California

Mon
20
May

California's marijuana industry is a mess, new data shows

On the surface, the marijuana industry looks like the greatest thing since sliced bread to hit Wall Street. We're talking about an industry that's been collecting tens of billions of dollars under the table for decades and is now stepping into the light of legality. After generating $12.2 billion in worldwide revenue in 2018, some Wall Street investment firms foresee legal weed sales hitting up to $75 billion a year globally by 2030.

Mon
20
May

Get hungry for summer’s dankest cannabis dining events

Even in the marijuana Nirvana that is adult-use California, any bars and restaurants that openly allow cannabis consumption can put their liquor licenses in jeopardy, while anyone who publicly advertises a weed dinner risks fines (or worse) for throwing an unlicensed cannabis consumption event.

Still the final frontier of cannabis legalization, a weed-friendly restaurant experience has yet to be fully realized, even though the day is fast approaching when you’ll be able to toke and eat in the same establishment — at least in West Hollywood!

Wed
15
May

Report: Unlicensed LA dispensaries are selling dangerous knock-offs

Burdensome and irksome, arbitrary and protectionist, the many webbed network of laws governing commercial cannabis in California are there for at least one reason even hardcore libertarians should grudgingly appreciate: They are meant to prevent consumers from purchasing knock-off products that have the potential to do them harm. This is noble and good.

Tue
14
May

Cannabis smuggling arrests at LAX up 166% since legalization

Arrests for cannabis smuggling at Los Angeles International Airport are up 166 percent since the legalization of marijuana in California, according to a report from the Los Angeles Times. Officials at LAX reported that cannabis was discovered in checked luggage and carryon bags 503 times last year. In 2017 there were 400 reports for marijuana possession at the airport while in 2016, the year California voters legalized cannabis with the passage of Proposition 64, pot was found on 282 occasions. About 20 percent of those reports involved trafficking and the rest were related to passengers who had been found possessing weed or cannabis products in quantities consistent with personal use.

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.

Wed
08
May

California pot market not traced or tracked as promised

When California voters broadly legalized marijuana, they were promised that a vast computer platform would closely monitor products moving through the new market. But 16 months after sales kicked in, the system known as track-and-trace isn’t doing much of either.

As of last month, just nine retail outlets were entering data into the network established under an estimated $60 million state contract, even though 627 shops are licensed to sell pot in California.

The rate of participation is similarly slim for other sectors in the emerging industry.

Fri
03
May

CBD content in commercial products typically less than advertised according to report

Third-party lab testing of a variety of commercially available CBD products finds that many contain only trace quantities of cannabidiol, according to an analysis first reported by BusinessInsider.com.

Representatives from CannaSafe Laboratories, a California-based analytical testing company, assessed 20 CBD-infused products, including vape cartridges, beverages, edibles, and skin creams. Only three of the 20 products contained levels of CBD matching the percentages advertised on their label.

Mon
29
Apr

UCSD set to research cannabis for multiple conditions

Researchers from the University of California, San Diego are seeking more than 130 people to participate in cannabis-related clinical trials.

There will be a total of four clinical trials coming up, one of which is a study on children. The center for Medical Cannabis Research at UCSD will focus on the use of cannabinoids to treat autism, schizophrenia, anorexia, and tremors. All of the studies are planned for this year and they will all be conducted separately.

Tue
23
Apr

California considers plan to encourage marijuana banking

California legislators considered a plan Monday intended to encourage more banks to do business with marijuana companies that have been frozen out of thousands of financial institutions.

Most Americans live in states where marijuana is legally available in some form. But most financial institutions don't want anything to do with money from the cannabis industry for fear it could expose them to legal trouble since the federal government still considers marijuana illegal.

Fri
19
Apr

Los Angeles sues unlicensed cannabis dispensary

The city of Los Angeles has filed a lawsuit against an unlicensed cannabis dispensary for selling product tainted with dangerous chemicals, according to media reports. At a downtown news conference on Wednesday, City Attorney Mike Feuer indicated that the lawsuit against Kush Club 20 on Central Avenue in South Los Angeles would be followed by others.

“We are opening up a new front in our efforts to effectively enforce the city’s rules regarding marijuana,” Feuer said. “This compliments our criminal efforts in doing so, and we have filed a civil action against multiple business operators, property owners and real estate defendants.”

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