Marijuana Business News

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Wed
07
Jul

Illinois rakes in $369.7 million in cannabis taxes

The state of Illinois finished the previous fiscal year with more than $317 million in cannabis taxes. That far eclipsed the $52.7 million the state collected for the previous year with just six months worth of sales.

Illinois legalized adult-use cannabis with the first legal sales beginning in January 2020. The state has reported continued growth in total sales month after month since then, despite the COVID-19 pandemic and the governor’s orders closing most in-person business for more than two months in the spring of 2020.

The Illinois Department of Financial and Professional Regulation reports total sales for May 2021 were nearly $116.4 million. That’s nearly $1.5 million more than was sold in April.

Tue
06
Jul

Top US Marijuana Stocks To Buy In 2021? 2 Analysts Predict Will See Gains

Top Pot Stocks In Q3 2021

Currently, many investors are asking themselves, is there still an opportunity to invest in top marijuana stocks in 2021? As it stands the cannabis sector has seen months of declines until it began to turn around in June. Now as we start July the US cannabis market is currently the center of attention and it seems most of the world is waiting for federal cannabis reform in 2021.

Tue
06
Jul

Despite Hurdles the Michigan Cannabis Market Is On Fire

Now well into its second full year of adult-use sales, Michigan’s legal cannabis market is emerging from the pandemic ripe with opportunity. With a run rate behind only California and Colorado, Michigan’s early 2021 sales have put the state on pace to not only break the billion-dollar sales threshold but also blow right past it.

Michigan regulators allowed the state’s dispensaries to continue operating during the COVID-19 pandemic in 2020 – the first full calendar year of adult-use sales— resulting in sales over $984 million. Despite the essential business provision and solid initial sales, legal cannabis purchases declined during the autumn months.

Tue
06
Jul

Cannasouth to buy out cultivation and manufacturing joint venture partners

Leading medicinal cannabis company, Cannasouth Limited has today entered into two conditional agreements to acquire the balance of the stakes that it does not already own in its cultivation and manufacturing joint venture businesses.

Acquisition of outstanding interest in Cannasouth Cultivation Limited

Cannasouth has entered into a conditional agreement with Aaron Craig and his family interests (Craig Family Interests) to acquire the remaining 50% stake in Joint Venture business Cannasouth Cultivation Limited that Cannasouth does not already own.

Tue
06
Jul

Great Tips for Finding A Great Dispensary

There are hundreds of cannabis dispensaries nowadays. Some are running online stores while some operate brick and mortar stores. It is important to know what to look for when you want to choose a cannabis dispensary. It doesn’t matter whether it is for recreational or medical use, the factors to be considered are still the same. In Canada, online dispensaries are taking over the trade. Find the best weed delivery Toronto, after considering the tips below.

Location

Tue
06
Jul

As Montana prepares for recreational use, cannabis supply worries loom

A few times a day, someone from out of town will walk into one of Paulson Palmer’s three dispensaries in northwest Montana asking if they can buy marijuana. The answer is almost always no.

While Palmer’s Fruit Factory can sell cannabis to Montana residents with a medical marijuana card, it will not be legal to sell it for non-medical adult use until Jan. 1, 2022 — a message that might not be clear to out-of-state tourists who may have heard that weed has been legalized in Big Sky Country but haven’t closely followed the new law.

Tue
06
Jul

Thousands of Marijuana Greenhouses Threatened as Wildfires Rage in Northern California

The wildfires came early this year. Flames are already raging across California, threatening cannabis cultivation operations as well as homes, individuals and many livelihoods. The high-pressure dome that continues to trap heat over much of the U.S., likely caused the fires to start earlier than normal.

Worse each year

As bad as last year's wildfire season was, 2021's could be even worse as excruciating heatwaves become more frequent and more intense every year.

The California Department of Forestry and Fire Protection disclosed Tuesday that the Lava Fire burning brush and timber in the Shasta-Trinity National Forest had grown from 1,446 acres on Monday to 13,300.

Fri
02
Jul

How is The USDA Ruling Working Out For Hemp Producers?

It’s been just over three months since March 22, when the final updates to the 2019 interim final ruling (IFR) of the U.S. Domestic Hemp Production Program went into effect across the country. In light of a significant increase in hemp growers and farmers nationwide — largely set in motion by the Farm Bill of 2018 — it has been the aim of the USDA to develop “regulations that meet congressional intent while providing a fair, consistent, science-based process for states, tribes, and individual producers,” according to Undersecretary Mae Wu.

Fri
02
Jul

Seeing green? Economic impact of cannabis may be slow, modest

Though the arrival of legalized marijuana has been met with excitement and anticipation, economics and commercial real estate experts are tamping down expectations.

For one thing, they caution, it’s unrealistic to think marijuana shops will pop up on every street corner. The market, while potentially significant, just isn’t that big — and it won’t be a snap of the fingers to open a pot shop.

Though New Mexico has more than 117,000 residents registered in the state’s medical cannabis program with 12,628 living in Santa Fe County, recreational marijuana may be only a modest player in the state’s overall economic portfolio.

Fri
02
Jul

DEA argues allowing limited amounts of medical psilocybin could bolster illegal drug trade

The U.S. Drug Enforcement Administration (DEA) suggests that allowing limited medical access to psilocybin for therapeutic purposes could bolster both the use and supply of illegal drugs.

The argument was made in an agency brief responding to a petition filed in a federal appeals court that argues for allowing therapeutic use of psilocybin. A medical institute, two cancer patients and a doctor argue that they should have access to psilocybin for their conditions.

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