Marijuana Business News

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stocks
business
Mon
19
Jul

U.S. Pot Legalization Bill Gets a Frosty Reception

marijuana leaf

The U.S. cannabis industry had eagerly awaited a federal legalization bill that executives, investors and interest groups had hoped would be a panacea for the partisan divide over a hotly contested issue.

What they saw last week from Senate Majority Leader Chuck Schumer left many underwhelmed.

Fri
16
Jul

Will Industrial Hemp Find a Good Fit in Florida Agriculture?

The University of Florida has brought its two-year Industrial Hemp Pilot Project for a landing with guidance that the crop might be a viable commodity for Florida growers in the future, with caution for economic and environmental challenges.

The UF/IFAS-led pilot project began in spring 2019 after federal and state legislation established an industrial hemp pilot program with research and education priorities that support hemp cultivation.

Fri
16
Jul

Why Are Some CBD Products So Expensive and Others So Cheap?

The demand for CBD has gone up exponentially for myriad reasons, including pain, depression, sleep disorders, and anxiety. And it’s not surprising it’s gone up even more since the pandemic started. 

Fri
16
Jul

The St. Regis Mohawk Tribe Opening New York's First Legal Adult-use Cannabis Shop

The St. Regis Mohawk Tribe is poised to open the first adult-use cannabis shop in New York State, beating out the non-tribal retailers by up to a year…or more.

The tribe, located in northern New York along the U.S.-Canada border, adopted its own ordinance regarding legal marijuana last month, following New York state’s April 1 legalization.

How and why

Their ordinance went further than the state’s law, created under the Marijuana Regulation and Taxation Act (MRTA), by setting up rules for growing and processing cannabis, licensing retail shops and declaring that everything, from seed to sale, must take place on tribal territory.

Fri
16
Jul

Top Cannabis Researcher Ups 2022 U.S. Forecast To $30 Billion Due To More Markets Legalizing

The recent Green Rush wave of recreational cannabis legalizations in multiple states, which include Connecticut and New York, has caused one prominent industry market researcher to revise its U.S. forecast for 2022 to $30 billion. This is a jump from the previous $28 billion estimate.

Fri
16
Jul

Why Are Cannabis Stocks Down?

There are several reasons that could explain the drop, including Sen. Schumer’s acknowledgment that the current draft of the Cannabis Administration and Opportunity Act may not garner enough votes to pass in the Senate.

Wednesday was a historic day for the marijuana industry with the unveiling of the highly-anticipated Senate bill that would federally legalize cannabis.

Fri
16
Jul

Six key takeaways from the U.S. pot legalization draft bill

A group of U.S. senators has unveiled The Cannabis Administration and Opportunity Act, the long-awaited cannabis reform bill that would effectively end decades of prohibition and federally legalize the drug. Below are six of the draft legislation's key parts that will be put forward for public comment by Sept. 1, after which a final bill will be filed and set for a vote in U.S. Congress. If successful, the bill will head to the White House for President Joe Biden's signature to formally become law. 

Fri
16
Jul

California Governor Signs Contentious Cannabis Overhaul Bill

California just signed a new law into effect that will consolidate the state’s cannabis programs into one department. 

This was done to help simplify regulatory oversight and make access to licenses more clear and straightforward for those seeking to find them. 

It would consolidate the three agencies that already exist to regulate legal cannabis in the state, which are the Bureau of Cannabis Control, CalCannabis within the Department of Food and Agriculture as well as the Cannabis Manufacturing branch within the Department of Public Health into just one, single agency, the new Department of Cannabis Control.

Thu
15
Jul

Michigan Recalls 10,000 Cannabis Edibles

Although states with legal recreational marijuana programs have been notably careful to ensure product safety, as with any industry, mistakes happen. 

This time, the state of Michigan recently recalled 10,000 cannabis-infused chocolate edibles dubbed Covert Cups, having discovered the products had not undergone adequate inspection after being manufactured in Bay City, reported MLive. 

Thu
15
Jul

New Mexico Eyes Higher Plant Limit For Marijuana Producers

A New Mexico regulatory agency hopes to avoid a possible shortage by raising the number of marijuana plants that licensed producers could produce.

The Cannabis Control Division of the state Regulation and Licensing Department last week raised the previously planned per-grower limit of 4,500 plants to 8,000, and producers also would be able to apply for incremental increases of 500 with a total cap of 10,000, the Santa Fe New Mexican reported.

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