Marijuana Politics

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Mon
03
May

The Mexican Adult Use Market Will Be A Major Growth Engine For Several Global Cannabis Companies

Earlier this month, Mexico’s push to legalize recreational cannabis was halted after Senate Majority Leader Ricardo Monreal said that is attempting to extend the Supreme Court’s deadline to change the current law.

This development was not well received by the market as Mexico was on the verge of becoming the third country to legalize recreational cannabis. So far this year, we have seen a spike in the number of viewers that are closely following the Mexican cannabis market, and this is an opportunity that we have been bullish on.

Large-scale Canadian Licensed Producers (LPs) such as Canopy Growth Corporation (WEED.TO) (CGC) and Aurora Cannabis Inc. (ACB.TO) (ACB) claim to be levered the Mexican cannabis market and we will monitor how the industry advances from here.

Mon
03
May

This company is the first to legally ship hemp across state lines by rail in 84 years

The first shipment of legal hemp to cross state lines in the U.S. by railroad in 84 years departed from California, fittingly, on 4/20.

Approximately 17,000 pounds (7,700 kilograms) of hemp, grown at the 550-acre Golden State Hemp farm in Fresno, Calif., was shipped by Union Pacific rail to the company’s research lab in Denver, Colo.

“Today’s first shipment by rail is another goal in our company mission of ‘Changing the world one acre at a time,’” Jeff Friedland, co-founder and CEO of Golden State Hemp, said in a release.

Mon
03
May

Arkansas: Medical marijuana sales tax receipts surpass $30 million, overall sales will soon hit $300 million

Collections from Arkansas state taxes on medical marijuana purchases recently surpassed $30 million.

According to the latest report from the Arkansas Department of Finance and Administration, the 6.5% state sales tax and 4% privilege tax established by the legislature have netted about $31,663,022 as of March 31, 2021.

Medical marijuana sales began in June 2019. While the 6.5% tax does not apply when a cultivator sells to a dispensary, the 4% does apply to those sales. Department of Finance and Administration spokesman Scott Hardin said the sales tax numbers have "exceeded expectations." Overall sales will soon surpass $300 million, he added.

Mon
03
May

The American Entrepreneur Is Alive And Well—In Cannabis

If you read a lot of mainstream media, you probably believe that the American entrepreneur is dead, undone by big-box retail and online behemoths like Amazon, that entrepreneurial energy and innovation have disappeared into a maze of international trade agreements and a haze of opioid addiction and despair. You might think a nation that once prided itself on small business is now nothing but a playground for hedge funds and billionaires to squeeze every last penny out of the working men and women of this country. And while much of that may be true, it’s not the whole story. Not by a long shot. 

Mon
03
May

How Long Before The Senate Approves The SAFE Banking Act?

The longer it takes for the Senate to approve the SAFE Banking Act, the longer it takes for traditional financial institutions to render their services to businesses in the cannabis industry.

Marijuana businesses have been operating on an all-cash basis for years now. No thanks to the federal government’s ancient policies that make accessing the services of banks and lenders impossible for hemp-based companies. This circumstance makes the cannabis industry a target of crime.

In 2017, a beacon of hope appeared in the form of a bill called the SAFE Banking Act, though the edict has not been authorized, despite passing the house several times. This begs the question, “How long before the Senate approves the SAFE Banking Act?”.

Mon
03
May

Lawmakers Reintroduce Marijuana Data Collection Act To Congress

A bipartisan group of lawmakers from both houses of Congress reintroduced on Thursday the Marijuana Data Collection Act, a bill that would require the federal government to study the effects of legal cannabis. The measure, which was previously introduced by a bipartisan group of lawmakers in 2018 and again in 2019, is sponsored by Democratic Sen. Bob Menendez of New Jersey, Republican Sen. Rand Paul of Kentucky, Democratic Rep. Sylvia Garcia of Texas, and Rep. Don Young, a Republican from Alaska.

Fri
30
Apr

The cannabis industry's next war: How strong should its weed be?

The nation’s booming weed industry has a potency problem.

As more and more states legalize marijuana, companies are facing new pressure from lawmakers across the country — and Capitol Hill — to limit the strength of their products. It’s a level of scrutiny that comes with being allowed to operate in the open after decades in the shadows.

The steadily rising levels of THC — the component of marijuana that gets users high — is causing widespread concerns about the public health consequences. Even in pioneering states like Colorado and Washington, where recreational marijuana sales started in 2014, lawmakers are debating whether to put caps on THC potency.

Fri
30
Apr

Swedish hemp imports signal potential for domestic production

With 135 tons of food seed and a growing amount of hemp fiber imported every year, Sweden has the basis for a strong national hemp industry, stakeholders suggest. But the market can thrive and benefit Swedish companies only if hemp gains wider recognition and rules become clear.

Fri
30
Apr

The State of Cannabis in Colorado

It is fair to say the legal cannabis industry has exploded over the past two decades, ever since the state of California got the ball rolling in 1996 by legalizing medical cannabis, followed quickly by Colorado.

Since then, we’ve seen a total of 36 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands all approve comprehensive, fully legal medical cannabis programs.

Colorado was one of the first states to decriminalize cannabis in 1975, then establish legal medical and recreational cannabis programs in 2000 and 2012.

Fri
30
Apr

Illinois Makes More Money from Cannabis Taxes than It Does from Liquor Taxes

When Illinois lawmakers approved recreational cannabis in 2019, they did so hoping that it would prove popular enough to generate taxes to help offset state debt and fund a variety of programs. So far, Illinois residents have come through for them in a big way.

Recreational cannabis has proven extremely popular in Illinois. Even with the pandemic resulting in lockdowns for many months in 2020, marijuana taxes raked in $174.8 million for the state.

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