Marijuana Politics

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Fri
14
Aug

Canadian pot producers take fight to illicit market with cheap cannabis

It took some time, but Canadian cannabis producers appear​ to have finally embraced selling cheaper pot. 

The so-called value segment of the Canadian cannabis market - defined by one analyst as having a retail price below $6 per gram - has exploded in recent months: it accounted for slightly more than 40 per cent of all dried flower sales in July, up from 10 per cent of the market last September, according to industry data provider Headset. 

The popularity of these “value" products has helped companies like Aurora Cannabis Inc. and Canopy Growth Corp. report better-than-expected quarterly sales figures, while also providing consumers with a competitively priced product that could lure people away from the illicit market. 

Fri
14
Aug

Kamala Harris Has A Complicated Marijuana History

The VP pick has evolved her views on cannabis reform, but her history has left her open to attacks from opponents.

When Joe Biden chose Kamala Harris as his running mate Tuesday, he invited renewed interest in what cannabis reform would look like under his potential presidency. GOP figures, including President Donald Trump, immediately targeted Harris’s conflicting history with cannabis in his initial response to Biden’s historic decision.

In recent years, Harris embraced reform at the federal level by sponsoring a number of cannabis bills and has called to end the War on Drugs. So what makes her a target on cannabis reform? It has to do with her past.

Fri
14
Aug

Oklahoma: Cannabis sales through June nearly eclipses all of 2019

Oklahoma cannabis users are on pace to spend twice as much this year compared to 2019.

As of June, Oklahomans spent more than $385 million this year on medical marijuana. That's nearly the entire amount spent during 12 months last year, according to an analysis of data from the Oklahoma Tax Commission.

Much of that boost came during the early days of the coronavirus pandemic, when collections of the 7% tax on medical marijuana rose dramatically. Sales have leveled off, however, and dipped slightly in June to an estimated $74.8 million.

Fri
14
Aug

Illinois To Issue 75 Cannabis Dispensary Licenses In Coming Weeks

State regulators announced 75 new cannabis dispensaries will be permitted in the coming weeks following Tuesday's approval of rules for a tiebreaking process for granting licenses to recreational marijuana retailers.

The licenses are set to be the first issued by Illinois Department of Financial and Professional Regulation to anyone other than the owners of the few dozen companies that were already authorized to operate medical marijuana dispensaries before lawmakers voted to legalize the retail sale of adult-use cannabis.

Thu
13
Aug

AHA Wants Marijuana Removed From Schedule I

The American Heart Association says marijuana should be removed from the USA’s Schedule I controlled substance category – but not to encourage wider use.

Not all cannabis is equal in the eyes of the law in the USA. Hemp and marijuana are both cannabis, but are treated very differently.

Thu
13
Aug

Michigan marijuana companies targeted in class-action lawsuits claiming telemarketing violations

Florida attorney Andrew J. Shamis, who’s developed a cottage industry suing companies over use of unsolicited telemarketing, has set his sites on marijuana companies in Michigan.

Shamis with his Miami-based law firm, Shamis & Gentile, has sued at least three Michigan marijuana companies in federal court this year, including MichiCann Medical, which operates as 420 Dank in Detroit; AEY Capital, which does business as Gage Cannabis and Light ‘N Up Provisioning and Microbuddery in Flint.

Thu
13
Aug

Only 265 of estimated 500K possession charges cleared in 1st year of government program

One year after the Canadian government created a program to quickly and affordably clear cannabis possession charges from people’s criminal records, just 265 records have been cleared. 

Thu
13
Aug

COVID-19 has caused legal weed to ‘cannibalize’ the illicit market

By the end of 2020, the legal cannabis industry is expected to surpass US$15 billion. But the money that weed generates on the illicit market far exceeds that amount.

Tracking exact figures is tricky because anonymous dealers and criminal networks aren’t exactly sharing sales data with the media. But estimates approximate the illicit market is more than four times the size of its legal market.

More specifically, New Frontier Data values the U.S. illicit. Per Statistics Canada, less than 30 per cent of Canadian cannabis users acquire their goods exclusively from licensed retailers.

Thu
13
Aug

South Dakota submits industrial hemp plan to USDA for final approval

South Dakota has submitted its industrial hemp plan to the U.S. Department of Agriculture for approval. 

The plan lays out how the state will regulate industrial hemp, and South Dakota farmers will be able to begin growing industrial hemp once the USDA gives final approval. 

The South Dakota Department of Agriculture will continue to develop its program while it waits for that approval, and processors and growers will be able to find more information about applying for a hemp license in the near future, according to Derek Schiefelbein, industrial hemp program manager at the SDDA. 

"I am looking forward to working with industrial hemp producers and processors in South Dakota," Sheifelbein said.

Thu
13
Aug

Cannabis industry gearing up for wave of mergers and acquisitions amid prospect of U.S. legalization

After nearly a year of next-to-no deal-making, cannabis companies are gearing up for mergers and acquisitions as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say.

Profitable cannabis companies want to buy their way into niche segments and expand their brands, betting the November U.S. presidential election will lead to weed becoming legal across the United States. Distribution deals could also help companies reach consumers who have shown an increased appetite for pot products since the onset of the coronavirus pandemic.

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