Medical Cannabis Industry & Recreational Marijuana Business News

Marijuana Business This Week: German medical cannabis contracts, CBD self-regulation, MMJ group’s bank account closed & more

Here are some notable stories and events to watch for in the coming days: MAKING IT OFFICIAL: Contracts between Germany’s Federal Institute for Drugs and Medical Devices and the three companies it tentatively selected to cultivate and distribute its medical cannabis could be formalized as early as Wednesday after a mandatory 10-day appeals process expires. […]

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Illegal marijuana sales brisk in Massachusetts, police chiefs say

Some Massachusetts police chiefs report a flourishing illicit cannabis market, just months after the launch of legal adult-use sales. Illegal sellers can offer marijuana at lower prices than their legal counterparts, which are fighting to build a strong legal market. Supplies are short in the legal market, according to the Boston Herald. For more details […]

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Judge: NM State Fair infringed on medical cannabis firm’s free-speech rights

A federal judge ruled that the New Mexico State Fair violated the First Amendment rights of medical marijuana company Ultra Health in restricting its proposed educational booth for the 2017 event. Marissa Novel, Ultra Health’s communications manager, said the company was “elated” with the decision and has found that educating the public about medical marijuana is […]

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On first day of OH medical marijuana sales, some dispensaries cap purchases

Wednesday marked the first day of medical marijuana sales in Ohio, with retailers reporting brisk transactions. Only four dispensaries were reported open in the state, a market that is projected to generate as much as $400 million in annual sales over time, according to Marijuana Business Daily estimates. Early on opening day, about 20 people waited […]

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Chart: Multistate cannabis operators rapidly expanding into new markets

The fragmented, state-by-state nature of the marijuana industry historically has been dominated by small, local players, but larger, publicly traded companies with multistate operations are becoming an increasingly prevalent force. Rapid consolidation and expansion among cannabis companies dominated 2018 with more than 300 mergers and acquisitions and a rash of reverse takeovers that allowed U.S. […]

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AR approves medical cannabis dispensary scores, advancing licensing process

Arkansas regulators are notifying 32 medical marijuana dispensary license winners statewide, after the Medical Marijuana Commission unanimously approved the final scores produced by an independent evaluator. The top four scores in each of eight regions will receive the letters, but before the winning companies are awarded an actual dispensary license, they must pay a $15,000 […]

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Health department attorneys in Florida oppose medical marijuana ruling

Florida Department of Health lawyers asked an appeals court to overturn a circuit judge’s ruling they say “injected confusion and uncertainty” into licensing of medical marijuana businesses in the state. That judgment could lead to more MMJ licenses for the Sunshine State’s plant-touching companies. The case centers on a 2017 law, passed during a special […]

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More medical cannabis dispensary permits approved by Pennsylvania

Pennsylvania is giving out another 23 permits to sell medical marijuana through dispensaries for an MMJ program that opened for business last February. The state Department of Health said the 23 remaining permits will bring the number of dispensaries to 79 in Pennsylvania, once each location meets the state’s standards to open. More information on […]

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Hemp legalization clears House, off to president for final approval

Hemp legalization awaits the pen of President Donald Trump after the U.S. House on Wednesday followed the Senate and approved a 2018 Farm Bill that removes hemp from the U.S. Controlled Substances Act. The House voted 369-47 to agree to a Farm Bill compromise that includes redefining cannabis plants with no more than 0.3% THC. […]

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Regulator warns Canadian marijuana firms against ‘problematic practices’

Canada’s stock market regulator warned publicly traded companies in emerging industries such as cannabis and fintech against “problematic promotional activities” that could artificially increase share prices and put investors at risk. The warning from the Canadian Securities Administrators (CSA) – an umbrella organization for provincial securities regulators – came amid already highly volatile cannabis stock […]

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Ohio judge: Medical marijuana ownership ‘racial quota’ is unconstitutional

An Ohio judge struck down a provision in the state’s medical cannabis program stipulating that 15% of licenses go to minority-owned groups, saying it’s unconstitutional. Franklin County Judge Charles Schneider said the provision denied Greenleaf Gardens, one of the cultivation license applicants, of its rights because two lower-rated, minority-owned firms were picked ahead of it. […]

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Michigan medical cannabis shortage might result in dispensary shutdowns

A lack of medical marijuana in Michigan could potentially result in the state’s approximately 40 licensed dispensaries shuttering their businesses until spring. Cannabis cultivators in the state didn’t start getting permits to grow until August, and that means a larger supply of licensed MMJ won’t be available in the state until next year when more […]

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