Jeff Smith

Missouri gets 400-plus applications for medical cannabis business permits

Business interest in Missouri’s medical marijuana program remains strong, with the state receiving more than 400 applications for retail, cultivation and processor licenses. The state reported that 418 business application forms have been filed, generating more than $3 million in “pre-license” fees for the state. The state started taking the forms last month. The breakdown in […]

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Congress urged to allow legal marijuana businesses access to bank services

Bank officials and others urged Congress on Wednesday to fully open the doors of the U.S. banking system to the state-legal marijuana industry, a change supporters say would reduce the risk of crime and resolve a litany of challenges for cannabis companies, from paying taxes to getting a loan. California Treasurer Fiona Ma, whose state […]

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Effort in Arkansas to add nearly 40 medical marijuana conditions falls short

An Arkansas legislative committee shelved an effort to more than triple the conditions that would qualify patients to use medical cannabis, a move that likely would have resulted in a more robust market. The proposal to expand the conditions list from 18 to 57 did not receive a motion to advance out of the House Rules Committee […]

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Oklahoma medical cannabis sales surge to $4 million in January

The nascent Oklahoma medical marijuana program continues to post strong initial numbers, with retail sales topping $4.3 million in January, a fourfold increase from the previous month, according to state Tax Commission figures. That jump is for a program that was approved by voters only last June. The Oklahoma Medical Marijuana Authority said it has […]

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Congressional hearing on marijuana banking boosts industry hopes for reform, but passage far from assured

Major issues facing the cannabis industry, such as limited access to banking services, have stalled in Congress without even getting a hearing, much less a floor vote.

That will change Wednesday, when a subcommittee of the now-Democratic-controlled House Financial Services Committee hears testimony on the difficulty legal cannabis businesses have opening and maintaining bank accounts.

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Connecticut billboard pointing to legal marijuana sales across border sparks squabble

A highway billboard in Connecticut that reads “Weed is legal in 60 miles,” meaning cannabis is legally for sale via businesses that sit just across the border in Massachusetts, has prompted a community stir, Rocky Hill TV station WFSB reported. The billboard – which includes the logo for the tech company Weedmaps – also reflects why […]

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Former House Speaker Boehner gets behind marijuana lobbying group

Former U.S. House Speaker John Boehner announced a new, industry-funded group to lobby for marijuana reform in banking, taxes and research, a move that will put a political heavyweight behind the MJ industry’s efforts to overhaul federal cannabis policy. The National Cannabis Roundtable will consist of members representing all aspects of the industry, including growers, […]

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Marijuana business sues Louisiana after state nixes its testing lab application

A New Orleans-based company is suing the state of Louisiana, claiming that its application to be an independent medical cannabis testing laboratory was improperly rejected. The lack of an independent testing lab is the latest development to delay Louisiana’s medical marijuana program, which was initially expected to become operational in late 2018. Product now isn’t […]

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AR licenses 32 dispensaries; medical cannabis sales possible around April

The 32 businesses that an Arkansas panel approved to sell medical marijuana in the state have been formally awarded their licenses, with sales expected to start as soon as April. The businesses received their licenses after paying a $15,000 licensing fee and posting a $100,000 performance bond. Four dispensaries are being allowed to operate in each […]

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Arbiters award 4Front Advisors $8.7M in dispute with Nevada cannabis firms

4Front Advisors, part of the Arizona-based multistate marijuana firm 4Front Holdings, won an $8.7 million arbitration award against Nevada-based CWNevada and NuVeda for breach of contract in failing to pay fees for services provided. Kris Krane, 4Front Holdings’ co-founder and president, told Marijuana Business Daily the award validates 4Front Advisors’ work in helping the two […]

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Multistate cannabis firm expands into Massachusetts with $30 million-plus deal

Chicago-based, multistate marijuana operator Verano Holdings announced it is moving into another state through the acquisition of a Massachusetts marijuana business. Verano said in a news release it has acquired 100% of Four Daughters Compassionate Care of Sharon, subject to review by Massachusetts regulators. Verano would not disclose the exact purchase price but said the […]

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Gov says it’s still possible for New York to legalize adult-use marijuana by April

New York Gov. Andrew Cuomo said he remains confident the Legislature can vote to legalize recreational cannabis as part of the state budget, which is due April 1. The optimistic comments came after Assembly Speaker Carl Heastie, a Democrat, questioned whether lawmakers would have enough time to resolve thorny questions surrounding legalization while also working […]

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