More than 60% of the U.S. population now lives in states that have legalized some form of marijuana use and sales, illustrating both the rising acceptance of cannabis nationwide and the industry’s immense potential for future growth. Several medical marijuana and recreational programs have yet to get off the ground, however. Here’s an update on […]Read More
U.S. cannabis companies are forecast to bring in as much as $10 billion in retail sales this year, according to the Marijuana Business Factbook 2018. But much of that money will go unbanked by financial institutions wary of possible sanctions for servicing businesses considered federally illegal. However, as more states legalize cannabis, regulators and lawmakers are […]Read More
In advance of the launch of West Virginia’s medical cannabis industry, the state treasurer has proposed potential solutions for MMJ companies in need of payment and banking solutions to avoid operating on an all-cash basis. According to the Charleston Gazette-Mail, Treasurer John Perdue has floated two different possibilities to Gov. Jim Justice: Create a third-party […]Read More
A bill that would have made several changes to West Virginia’s medical marijuana law failed when the state’s legislative session ended last weekend. West Virginia’s medical marijuana program was set to launch in 2019, but the bill’s failure Saturday night and an opinion from the state treasurer have put the rollout on shaky ground, WVNews.com reported. […]Read More
West Virginia’s medical marijuana board will recommend that state lawmakers allow patients who meet certain requirements to buy smokable forms of the medicine, a move that could boost MMJ sales. Such a move would also buck a trend in several other states that have also legalized MMJ but banned either the sale of marijuana flower […]Read More
If it was a big year for recreational marijuana in 2016, then it was a huge one for medical marijuana.
Voters or state legislatures in 11 states – Arkansas, California, Florida, Hawaii, Louisiana, Maryland, Montana, North Dakota, Ohio, Pennsylvania and West Virginia – approved or advanced medical cannabis measures.Read More
West Virginia regulators are anticipating the state will need about $2 million to launch its medical marijuana program. State health officer Dr. Rahul Gupta told both the state Senate and the House of Delegates the program could potentially be funded through an “internal loan,” the Charleston Gazette-Mail reported. The biggest portion of the program’s expected […]Read More
Farmers in West Virginia can now apply to cultivate industrial hemp for commercial purposes, making the Mountain State the latest to show an interest in growing the plant. The agriculture commissioner began accepting applications from would-be hemp farmers on Tuesday, the Charleston Gazette-Mail reported. Successful applicants would join members of the West Virginia Farmers Association who hold […]Read More
By Omar Sacirbey and Bart Schaneman
Massachusetts lawmakers table negotiations on the state’s recreational marijuana law, Denver finalizes rules for social cannabis use, and West Virginia creates an advisory board to help plan its MMJ industry.
Here’s a closer look at some notable developments in the marijuana industry over the past week.Read More
West Virginia regulators have announced the advisory board that will help develop the state’s medical marijuana program. The newly created West Virginia Medical Cannabis Advisory Board will be chaired by Rahul Gupta, commissioner of the Bureau for Public Health and state health officer. The board’s other 12 members include physicians, pharmacists, a social worker, a […]Read More
West Virginia officials say they’re in the “preliminary stage” of developing a plan to implement the state’s new medical marijuana law, including rules that will govern new business owners. The regulations “will begin with requirements for growers/processors so that those entities can come online and begin to produce products,” a spokeswoman for the Department of Health and Human Resources told […]Read More
It’s official: West Virginia has become the 30th state in the nation to legalize medical cannabis, and the first to do so in 2017. Gov. Jim Justice on Wednesday signed Senate Bill 386, the Medical Cannabis Act, and said it was “a monumental day,” MetroNews reported. The legislature approved the bill the first week of […]Read More
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