Illinois Medical Cannabis Business & Marijuana Legal News

Week in Review: Sweet Leaf owners make a deal, NJ/IL medical cannabis reform & Alaska tax revamp

Sweet Leaf’s owners strike a deal with Colorado marijuana regulators, New Jersey and Illinois take steps to bolster their medical cannabis markets, and Alaska overhauls its MJ business taxes. Here’s a closer look at some notable developments in the cannabis industry this week. Sweet Leaf hit hard The owners of the once high-flying Colorado marijuana […]

Read More

MedMen inks blockbuster $682 million stock deal to acquire medical cannabis firm PharmaCann

MedMen Enterprises has agreed to acquire multistate medical marijuana company PharmaCann in an all-stock deal valued at $682 million, inking what is believed to be the largest acquisition to date in the U.S. cannabis industry. The deal will double the number of states where Los Angeles-based MedMen has licenses to operate – expanding the firm’s […]

Read More

Illinois medical cannabis market rises as regulations loosen

The medical marijuana market in Illinois is growing, especially after the addition of MMJ as an opioid alternative – a development that, if sustained, could significantly boost sales for businesses in the state. State officials reported that MMJ card applications had reached 44,000 recently, news site Patch.com noted. That’s roughly 2,000 more than when Gov. Bruce […]

Read More

MedMen inks dispensary deal to enter Illinois medical cannabis market

Los Angeles-based MedMen announced its second acquisition of the week to expand its national footprint – this time into the Illinois medical marijuana market. The multistate marijuana business agreed to acquire Seven Point, a licensed medical cannabis dispensary in the Chicago suburb of Oak Park. Terms of the deal weren’t disclosed, but it comes on the heels […]

Read More

BioTrackTHC system issues disrupt Illinois cannabis sales

Approximately one in five medical marijuana dispensaries in Illinois had to temporarily close Thursday because of a problem with the state’s seed-to-sale tracking system, which is a software developed by BioTrackTHC.

BioTrackTHC, based in Fort Lauderdale, Florida, reported 16 of roughly 80 dispensaries in Illinois were affected.

Read More

Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

Read More

Illinois governor signs bill to allow medical marijuana as opioid alternative

Illinois Gov. Bruce Rauner signed legislation Tuesday allowing the use of medical cannabis as an alternative to opioids – a development that could eventually generate hundreds of millions of dollars in additional MMJ sales. Marijuana Business Daily estimates the move could add tens of thousands of new patients to a program that has roughly 42,000 currently registered. […]

Read More

Illinois medical marijuana cultivation companies expanding facilities

Cannabis growers across Illinois are expanding operations, despite years of lower-than-expected demand in the state’s medical marijuana pilot program. The facilities expect more people to gain access to MMJ through a bill awaiting a decision by Gov. Bruce Rauner, the Chicago Tribune reported. The opioid bill would allow medical cannabis to be used instead of […]

Read More

CEO of multistate medical marijuana operator Green Thumb steps down

Peter Kadens, one of the more notable names in the U.S. cannabis industry, has stepped down as CEO of multistate medical marijuana company Green Thumb Industries (GTI). The 40-year-old entrepreneur, who will stay with Chicago-based GTI as a board member, told MassLive.com he was stepping down for personal and family reasons. Ben Kovler, who founded […]

Read More

Chart: Medical cannabis as alternative to opioids could give Illinois’ MMJ program a massive boost

Pending legislation in Illinois that would allow medical marijuana as an alternative to opioid prescriptions could fundamentally alter the business landscape in the state. The move could potentially add tens of thousands of new patients to the MMJ program and eventually generate hundreds of millions in additional sales. The Illinois General Assembly on May 31 […]

Read More

New York plans to allow medical cannabis as opioid substitute

One of the more restrictive medical marijuana programs in the United States might soon allow the use of MMJ as an alternative to opioids, a move that could provide a much-needed boost to the state’s cannabis businesses. The New York health department plans to develop regulations giving people the choice of enrolling in the state’s […]

Read More

Illinois lawmakers OK use of medical cannabis as alternative to opioids

Legislation passed last week in Illinois would allow potentially thousands of patients to receive medical marijuana as an alternative to highly addictive opioids, a move that could provide a notable boost to MMJ sales. The state’s governor must still sign off on the legislation before it can become law. But the approval by the Illinois […]

Read More