Marijuana Business News

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Wed
25
Mar

We Implemented Cryptocurrency In Our Cannabis Business. Here's What We Found.

If you’re a cannabis entrepreneur, you already know that banking and payment processing are major issues in the cannabis industry.

There are limited payment options if you sell CBD. It is magnitudes more difficult if you are selling THC-centered products.

Last year, banking issues in the cannabis industry reached the national spotlight when NPR published the aptly-titled article “Bags Of Cash, Armed Guards And Wary Banks: The Edgy Life Of A Cannabis Company CFO”. 

Once (or if) you can find a bank to work with, your bank account runs the risk of being shut down at a moment’s notice.

Wed
25
Mar

What legal cannabis in California could mean for New Zealand

In September, we get to vote on whether to legalise personal possession of cannabis in New Zealand. For a glimpse into what that might look like, Harrison Christian reports from California, where the legal pot business is booming – bringing good times (and some bad) to the masses.

At a pot dispensary in San Francisco, customers wait in an area resembling a swanky hotel lobby until a cannabis consultant beckons them to a marble counter.

Here, there's an exchange about their needs and preferred method of consumption. The customer is shown a menu with a staggering range of options: there are transdermal patches, body balms and disposable vape pens; sparkling drinks, chocolate-covered goji berries and watermelon-flavoured gummies.

Wed
25
Mar

'It's Very Tough': Retailers Across Mass. Shut Down Under State Order Worry About Future

Retailers across Massachusetts are closing their doors Tuesday, after Gov. Charlie Baker ordered all non-essential businesses in the state to close for at least two weeks.

The move is an effort to stop the spread of the coronavirus. Grocery stores, pharmacies and other businesses considered essential by the state can remain open.

In Central Square in Cambridge, many of the businesses that line Mass. Ave. already closed before Baker's order. But some retailers tried to stay open.

Wed
25
Mar

Is weed pickup and delivery risky when it comes to COVID-19?

The U.S. Center for Disease Control and Prevention (CDC) has good news for even the most efficient hoarders.

As self-isolation measures stretch from days to weeks and the potential for personal food options and cannabis supplies begins to dwindle, the CDC is advising that takeout and delivery services are safe to use.

Transmission of COVID-19 primarily occurs through person-to-person contact, according to the Times Union, so as long as customers keep plenty of space between them and others during the transaction, there shouldn’t be too much to worry about.

Tue
24
Mar

U.S. cannabis industry petitions government to be included in federal aid related to coronavirus

While cannabis is legal for medical and/or adult use in most U.S. states, its categorization as a Schedule I drug by the Drug Enforcement Administration (DEA) and status as federally illegal has many of the hundreds of thousands of workers in the industry concerned they will not be able to access federal relief put in place because of COVID-19.

A coalition of cannabis industry associations are having to ask federal regulators not to overlook the industry that employs them as the financial impact of the pandemic begins to more aggressively unfold.

Tue
24
Mar

Oklahoma: Medical marijuana business owners feel strain of COVID-19 crisis

Small businesses in Oklahoma are feeling the strain of the COVID-19 crisis, and that includes those in the medical marijuana industry.

"Senior citizens, military, people with PTSD - high anxiety; you know, how are we going to get the medicine to them,” asked John Koumbis, the owner of JKJ Processing.

Koumbis’ company is dedicated to making medicinal marijuana edibles. As this crisis develops, he feels like his business and his patients quality of life are hanging in the balance.

"I’ve made 11 calls to the OMMA and the legislature, and I’m not getting any response,” Koumbis said.

Darrell Carnes owns Mary Jane dispensary in Moore and says he’s also received very little guidance from the powers that be.

Tue
24
Mar

Pot stocks gain as global markets sink on coronavirus fears

As the Dow Jones Industrial Average and the S&P 500 erased all of its gains since President Donald Trump took office in January of 2017, pot stocks were on the rise early in the session on Monday. 

Cannabis companies Tilray, Hexo, Canopy Growth and Aphria kicked off Monday’s session in the green despite the coronavirus outbreak, which has left markets reeling in recent weeks.

Tue
24
Mar

Harsh Marijuana Delivery Restrictions Being Eliminated Due To COVID-19

Marijuana deliveries and curbside pickup could become the new normal for marijuana businesses in response to coronavirus.

The ability to safely and reliably purchase cannabis has worried consumers and medical marijuana patients during the coronavirus outbreak. Now, local and state governments have joined in that concern, with numerous officials issuing emergency or temporary orders to expand marijuana delivery and curbside pickup.

In addition, multiple municipalities declared cannabis an “essential good” amidst shelter-in-place orders, meaning buying marijuana was among the approved reasons residents could leave their homes.

Tue
24
Mar

Oregon, Pennsylvania Relax Cannabis Rules As Nevada Closes Storefront Dispensaries

Cannabis regulators across the country continue to react to the spreading coronavirus pandemic, with Oregon and Pennsylvania relaxing rules while storefront dispensaries were ordered closed in Nevada. The changes come as more states issue stay-at-home orders in an effort to curtail the spread of the virus.

Tue
24
Mar

Hotels Profit From Marijuana Legalization

One of the most overlooked benefits of marijuana legalization is the boost it gives businesses that don’t have anything to do with weed. Long before so much as a gram of pot can be sold, realtors, contractors and construction crews are needed to get cultivation operations and dispensaries whipped into shape. Properties must be sold, structures built, gutted, redesigned and fitted with new electric and ventilation systems. It’s a whole process that most people don’t give a second thought, and it is one where presumably thousands of non-pot-related workers are reaping the rewards.

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