Native American communities in New York are making plans to get into the recreational marijuana business, hard on the heels of the state’s enactment of an adult-use legalization law.
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These states could still legalize recreational or medical cannabis in 2021
Several more states could legalize adult-use or medical marijuana before their legislative sessions adjourn in 2021, possibly generating hundreds of millions of dollars in new business opportunities in the coming years.
Federal probe into Florida congressman said to include his marijuana ties
Federal investigators reportedly are looking into whether embattled Republican Congressman Matt Gaetz of Florida took gifts in exchange for politically influencing medical marijuana policy. CNN reported Friday that U.S. Justice Department...
US appeals court denies cannabis firm Harborside’s bid to end 280E
A U.S. appeals court has rejected California-based Harborside’s bid to stamp out Section 280E of the Internal Revenue Code, dealing a major blow to the marijuana industry’s hopes of eliminating a federal tax provision that has cost companies countless millions of dollars over the years.
New York’s marijuana social equity program eyed as possible game changer
New York recently enacted an adult-use marijuana law that many industry experts believe has the most robust provisions yet for including minorities, women, war veterans and struggling farmers in the state’s newest industry.
Florida’s highest court rejects adult-use marijuana ballot measure
Florida Supreme Court delivered a crushing blow to an effort to put adult-use marijuana legalization on the ballot in 2022, ruling that the initiative is “misleading.” The 5-2 decision means that the sponsor, Make it Legal, would have to start over with the process to...
Cannabis MSO Verano makes $175M expansion move in Pennsylvania
Acquisition activity in Pennsylvania continues at a brisk pace, with Illinois-based Verano Holdings making a big move to add marijuana cultivation and retail capacity in the state through two deals totaling more than $170 million. The multistate operator said Thursday...
Virginia governor signs recreational cannabis bill
Virginia Gov. Ralph Northam on Wednesday signed legislation legalizing a potential $1.4 billion adult-use marijuana market that could start as soon as Jan. 1, 2024.
Marijuana MSO TerrAscend buys Pennsylvania dispensaries for $63M
North American cannabis operator TerrAscend is doubling its Pennsylvania footprint with the acquisition of three additional retail outlets for $63 million.
Push in Florida to cap THC in marijuana appears over
A legislative effort in Florida to limit THC content in medical marijuana is dead for this year - probably. The contentious bill, HB 1455, would have capped THC at 10% for flower and 60% for concentrates. It was one of a number of measures being proposed around the...
Marijuana firms could face higher taxes via Biden spending plan and state rules
Marijuana businesses have paid higher taxes than mainstream companies for years thanks to Section 280E of the Internal Revenue Code, and now cannabis operators – especially retailers – might face an even bigger tax bill from Uncle Sam as well as some states.
US House gives final approval to marijuana banking reform bill
The U.S. House of Representatives passed cannabis banking reform by a strong bipartisan vote of 321-101 Monday, the first major piece of marijuana legislation approved by the new Democratic-controlled Congress.
