Marijuana Legalization and Regulatory News for Cannabis Businesses

Illinois releases social equity map for adult-use marijuana licensing

Illinois officials identified areas where applicants who want to legally grow and sell recreational cannabis would get preference under the law’s social equity provision, one that some believe could become a national blueprint for other MJ programs. The map was released on the eve of the state making applications available for up to 75 rec […]

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Connecticut closer to adding chronic pain for medical marijuana use

A Connecticut physicians panel recommended adding chronic pain that has lasted at least six months as a qualifying condition to use medical cannabis, which, if adopted, could provide a significant shot in the arm to the fast-growing market. The board of physicians also voted to recommend adding Ehlers-Danlos syndrome, a group of disorders that affects connective […]

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Pennsylvania’s top prosecutor supports legalizing recreational marijuana

The legalization of adult-use marijuana in Pennsylvania – which likely could create a market worth more than a billion dollars a year according to Marijuana Business Daily estimates – received another boost as the state’s top law enforcement officer tweeted that he is joining several other state Democratic officials in backing the effort. ??ANNOUNCEMENT After […]

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Oklahoma credit union stops serving medical cannabis companies

A credit union serving Oklahoma’s medical marijuana industry decided to stop doing so, a move that affects nine accounts and deals a setback for the state’s MMJ companies. Tulsa-based Encentus Federal Credit Union told the Tulsa World that serving the MMJ industry was too costly and the regulatory burden too great. The credit union informed […]

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US Senate panel chair: Cannabis banking reform prospects looking up

The chair of a key U.S. Senate panel is optimistic about the prospects for a cannabis banking bill following bipartisan approval of legislation in the House. Such a bill, if it passes the Senate and is signed into law, would open up the banking floodgates for state-lawful marijuana businesses, which now deal mostly in cash. […]

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Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be […]

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After the SAFE vote in US House, here’s what you need to know about the current state of banking in the marijuana industry

The U.S. House of Representatives’ vote approving legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of reprisal is a milestone for the cannabis industry. Nevertheless, the 321-103 House vote is but another step on a long and often bumpy legal road toward changing how […]

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Week in Review: Momentous marijuana banking vote in US House, vape crisis fallout, MA approves MJ cafes/delivery & more

The U.S. House passes a cannabis banking bill with strong bipartisan support, Massachusetts is the first state to nix the sale of all tobacco and marijuana vaping products, a Washington state man sues half a dozen MJ vape companies for allegedly causing his lung illness – and more of the week’s top cannabis business news. […]

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Additional medical marijuana licenses put on hold in Maryland

Maryland medical marijuana regulators put plans to award an additional four cultivation and 10 processing licenses on hold, in wake of a judge’s temporary restraining order barring the state from issuing licenses until Oct. 7. The Maryland Medical Cannabis Commission was scheduled to announce the winners on Thursday. Instead, Commission Chairman Brian Lopez said the […]

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Utah medical marijuana dispensaries could face hefty fees

Utah would charge medical marijuana dispensaries between $50,000 and $69,500 each year in operating fees under a proposal state officials are considering – placing an unexpectedly high financial burden on future MMJ businesses. An executive with a Washington state-based company interested in opening a dispensary in Utah called the proposed fees a “big pill to […]

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Pennsylvania governor says he’s ready to legalize recreational cannabis

Pennsylvania Gov. Tom Wolf is now in favor of legalizing marijuana for recreational use, which, if his efforts are successful, could potentially create a $1 billion-plus adult-use market in the state of 12 million people. Wolf says that that most of the state’s residents support it. He added that the state has a wealth of […]

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