Marijuana Politics

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Mon
13
May

One thing Maine’s legal pot industry can’t bank on: Support of financial institutions

The inability of Maine’s cannabis-related businesses to access traditional banking services is a huge drag on the industry, but that may be about to change.

Supporters of a congressional push to protect banks and credit unions that do business with legal cannabis growers, sellers, processors and product makers say it would transform the industry in Maine, especially with recreational sales right around the corner.

Mon
13
May

Weaker than expected cannabis sales ding California budget

California is paying a price for the shaky rollout of its legal marijuana market.

State budget documents released Thursday show the Newsom administration is sharply scaling back what it expects to collect in cannabis tax revenue through June 2020 — in all, a $223 million cut from projections just four months ago.

The reduced income for the state treasury means that slower-than-expected pot sales are punching a hole in California’s budget.

The diminished optimism for retail pot sales comes as shops continue to be undercut by a thriving illicit market, where consumers can avoid taxes that can approach 50% in some communities.

Mon
13
May

The 11th State to legalize recreational pot will be...

In terms of momentum, the marijuana industry has been practically unstoppable in recent years. Once considered a taboo topic that lawmakers regularly swept under the rug, cannabis has now become a mainstream topic in the United States, as evidenced by the fact that 2 out of 3 Americans support broad-based legalization, according to Gallup.

Mon
13
May

Greece licenses six medical marijuana operations, more coming

It’s still unlawful in Greece – apart from medical use – but the marijuana industry is set to take off after the ruling Radical Left SYRIZA government authorized six licenses for companies to cultivate the product

Some 50 applications for licenses have been submitted, three of which are in the final stages of approval said the business newspaper Naftemporiki, adding that the 56 total potential operations could bring in 590 million euros ($663.10 million) in revenues.

The new industry could also create 3,500 jobs during a still-running more than nine-year-long economic and austerity crisis with the government, apart from hard-core elements who don’t want foreign businesses, seeking more outside investors.

Mon
13
May

Chuck Schumer, Hakeem Jeffries reintroduce Bill to Federally decriminalize marijuana

Another year, another federal marijuana decriminalization bill proposal? It’s starting to seem that way for Senate Minority Leader Chuck Schumer, who has joined forces with New York representative Hakeem Jeffries on Schumer’s second decriminalization bill in two years.

Mon
13
May

Anti-cannabis Minister threatens to bring down Italian Government

Italy’s firebrand Interior Minister Matteo Salvini has promised to shutter every legal cannabis shop in Italy “one by one” and collapse the government should his coalition partner, the Five Star Movement, not comply with the demand.

“From today, I’ll go to war on cannabis street by street, shop by shop, neighbourhood by neighbourhood, city by city,” Salvini said on Wednesday, May 8.

Salvini, who leads the ruling far-right Lega party, said the war on drugs was “a new national emergency”, and has demanded the government close “these places of mass miseducation”.

Mon
13
May

Recreational cannabis growers face challenges as they enter the first summer of legalization

Albertans looking for a homegrown high this summer are set to face a shortage of supplies and a set of regulations restricting how many plants can be grown and where they can grow them.

Growing cannabis was legalized alongside recreational cannabis use last October. Alberta Gaming, Liqour and Cannabis’ (AGLC) online store started selling and supplying seeds in January, however the agency has felt the hardships of a nationwide supply shortage, leaving the online store seedless as of last Friday.

Mon
13
May

Marijuana reform is gaining momentum in the American Midwest

Marijuana reform is gaining momentum in the American Midwest as Nebraska and North Dakota have recently taken steps toward changing their outdated cannabis policies, writes Calvin Hughes.

Earlier this week, North Dakota Governor Doug Burgum (R) quietly made a small but important change to the Roughrider State's marijuana policies. On Wednesday, he signed a bill that will see small amounts of cannabis decriminalized in the state come August 1.

Mon
13
May

New Canada licensing rules may worsen shortage

Canada’s changes to its cannabis licensing requirements may make the country’s persistent pot shortage worse, not better, according to some in the industry.

The Canadian government said last week that it will now require applicants for cannabis cultivation, processing or sales licenses to have a fully built site before they apply. The goal is to alleviate the huge backlog that’s built up since Canada legalized recreational pot in October. About 614 applications were waiting in the queue as of March 31, according to a Health Canada spokeswoman.

Mon
13
May

Hemp as change agent in former Colombian war zone

INTERVIEW: Avelino Martinez Sandoval, CEO at ApagroCOL S.A.S., works with the Colombian national government’s Territorial Renewal Agency (ART), which advances rural reform in the areas most affected by Colombia’s armed conflict. Sandoval works on economic development initiatives that uplift rural communities and indigenous peoples, within the framework of peace agreements between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC).

 

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