Marijuana Business News

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Mon
30
May

Bank supervisors urge Congress to pass SAFE Banking bill for cannabis businesses

bank

 

The Conference of State Bank Supervisors (CSBS) is urging Congress to keep the Secure and Fair Enforcement (SAFE) Banking Act in the final version of the America COMPETES Act to provide legal marijuana businesses with access to financial services.

“By granting a safe harbor for financial institutions, Congress can bring regulatory clarity to the financial services industry, address public safety concerns, and ensure access to financial services for state-compliant marijuana and marijuana-related businesses,” James Cooper, acting president and CEO of the CSBS, wrote to House and Senate leaders.

Fri
27
May

Marijuana regulators look to end TikTok ban on ads

TikTok

New York State marijuana regulators are asking the social media app TikTok to stop banning advertising that involves the word “cannabis” as they work to promote public education on the state’s move to legalize. The Office of Cannabis Management (OCM) sent a letter to TikTok executives on Monday, urging them to revise their advertising policy for government entities so that they can freely talk about marijuana in a public health and safety context.

According to OCM Executive Director Chris Alexander, the office has launched a “Cannabis Conversations” campaign to inform New Yorkers about “who can purchase cannabis, where can you legally use cannabis, and how one can safely use cannabis, including protecting youth.”

Thu
26
May

Busted grow houses converted to Habitat for Humanity homes under Sacramento plan

construction workers

Habitat for Humanity considers it a win-win situation for both affordable housing and busted growers.

The City of Sacramento and Habitat for Humanity whipped up a plan to kill two birds with one stone—offering people busted with grow houses to donate their house to a worthy cause instead of paying high penalties.

Since busted growers already face six-digit amounts of money in administrative penalties, this program would simply allow them to put their properties to good use instead, perhaps reducing costs in the process. Under the program, property owners who get cited for illegally running cannabis grow operations can choose to donate their property directly to Habitat for Humanity. The program is called Justice for Neighbors (JFN).

Wed
25
May

Cannabis strain labels are misleading, research suggests: Authors call for labeling similar to FDA for food

cannabis

Do you know what kind of weed you're smoking? 

Have you ever wondered how useful labels on cannabis products are, or not? (Benzinga)

According to a new study that examined almost 90,000 samples across six states, they're not very useful. While most cannabis enthusiasts rely on labels like Indica, Sativa and Hybrid to help them distinguish one marijuana category from another, the new study suggests this is somewhat misleading, reported CU Boulder Today.  

Fri
20
May

Increase in cannabis pollen linked to illicit growth in Spain

cannabis plants

A study of the levels of atmospheric cannabis pollen in Murcia has detected a significant increase in recent years—indicating that illicit crop production has increased.

Researchers from the Polytechnic University of Cartagena in Spain have come to an interesting conclusion. Recently, the amount of cannabis pollen in the air has increased dramatically. It is not unreasonable to postulate, as the polytech scientists have now done, that the total amount of illicit cultivation in the region has increased significantly in the last four to five years.

Thu
19
May

How legal marijuana is outselling Starbucks

man holding Starbucks

It’s a safe bet that Americans as a whole will continue to spend even more on pot than PSLs. Here’s why.

When reports came back showing legal cannabis sales outpaced Starbucks sales in North America, it raised more than a few eyebrows. As we previously reported, in 2021, legal cannabis sales (medical and recreational combined) were between $24.5 billion and $27 billion, while Starbucks sold a reported $20.5 billion.

Thu
19
May

AAPI appreciation in the world of weed: Movers and shakers

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A look at the AAPI movers and shakers behind the cannabis industry, and the often underappreciated folks who are stepping into the light.

Race is a topic that comes up a lot in cannabis, as social equity and the War on Drugs is discussed, but APPI folks are often left out of the conversation completely. Due to the harmful and racist “model minority” myth that Asians have to be model citizens, it is often assumed that they won’t have anything to do with even the world of legal cannabis—a myth that also shows there is still a major stigma against weed. To dispel those antiquated notions, we spoke with some of the major movers and shakers in cannabis who come from an AAPI background and are proudly bringing their cultural heritage to the world of cannabis. 

Tue
17
May

Cannabis and franchising: Perfect together

sign

Franchising Helps Entrepreneurs Navigate the Complicated Cannabis Industry

As a franchise consultant and a New Jersey resident, I have kept a watchful eye over the cannabis industry and cannabis franchises in particular. In November 2020, New Jersey residents overwhelmingly voted to legalize cannabis in the Garden State. On February 21, 2021, New Jersey Governor, Phil Murphy, signed three laws regarding the legalization of marijuana.

Tue
17
May

The Michigan adult use market is one of the fastest growing cannabis markets in the United States

money

A bright spot of the United States (US) cannabis industry has been the performance of Midwestern states that allow for the sale of recreational cannabis. 

Tue
17
May

Woody Harrelson’s new cannabis lounge, The Woods, is open for business

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High Times went to The Woods!

There was a lucky vibe for Friday the 13th, at the grand opening for cannabis consumption lounge The Woods, co-owned by actor and cannabis entrepreneur Woody Harrelson. Located in West Hollywood, California, the newly remodeled storefront is one of the first of a slew of consumption facilities slated to open in the city over the next two years.

“It’s the most auspicious day, which is why we did it today,” Harrelson told High Times. He explained the years-long process, which has finally led to the sunlit space on Santa Monica Boulevard.

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