United States Cannabis Industry & Marijuana Business News

Congressional measure offered to shield all state-legal cannabis programs

An amendment that would protect all state-legal cannabis programs from interference by the U.S. Justice Department was submitted for the fiscal year 2020 Commerce-Justice Science spending bill. The federal funding bill and amendments are scheduled for consideration Tuesday by the U.S. House Rules Committee. The spending bill already included a provision that would prohibit the […]

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NY lawmakers make last-ditch bid to legalize adult-use marijuana

New York marijuana proponents are hopeful about an eleventh-hour effort to legalize a billion-dollar-plus recreational market before the legislative session’s scheduled end on Wednesday. Lawmakers are making progress on a potential Senate-backed compromise that could be voted on before adjournment, the New York Post and other media reported. “We’re going to try,” Sen. Liz Krueger, […]

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Merged cannabis firms MJ Freeway, MTech to begin trading on Nasdaq

Akerna, the newly formed marijuana company involving the merger of cannabis technology company MJ Freeway and MTech, a special purpose acquisition company, is to begin trading on the Nasdaq on June 18. MJ Freeway CEO Jessica Billingsley will lead the company, which will trade under the ticker KERN. The completed deal was to have closed […]

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Marijuana Business This Week: Canopy, Acreage shareholders vote, Springfield selects, OK inspects & more

Here are some notable stories and events to watch for in the coming days: DAY OF DECISION: Shareholders of Canopy Growth and Acreage Holdings are scheduled to vote Wednesday on the much-heralded mega-merger of the two companies. If consummated, it would become the first major Canadian/U.S. cannabis transaction. Each company’s shareholders will vote separately. At least […]

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Texas gov signs bill expanding new conditions for medical marijuana use

Texas Gov. Greg Abbott on Friday signed into law House Bill 3703, a measure that increases the number of qualifying patient conditions for medical cannabis use, which likely could increase dispensary sales in the state’s limited MMJ program. The measure adds multiple sclerosis, Parkinson’s disease, ALS, terminal cancer, autism and many kinds of seizure disorders to […]

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Report: PA medical cannabis rollout marred by ‘errors and irregularities’

A new investigative report published Friday concluded that Pennsylvania’s medical marijuana industry rollout was beset with problems to the point that it could provide legal ammunition for license applicants who did not receive approval but still want to get into the industry. Pennlive.com reported there were “significant errors and irregularities” in the application scoring process, in […]

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Michigan accelerates medical marijuana business licensing

In the past month and a half, the state of Michigan has dramatically increased turnaround times for processing and approving medical cannabis business license applications. In May alone, the new state Marijuana Regulatory Agency (MRA) ruled on 213 medical cannabis business permit applications, the Detroit Free Press reported. That’s up from an average of 95 […]

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MedMen opens its first Florida medical cannabis dispensary

Multistate operator MedMen on Friday announced the opening of its first Florida medical marijuana dispensary, in West Palm Beach – the first of 12 such planned storefronts in the state. The California-based company said in a news release it’s also planning upcoming Florida dispensaries in Orlando and Key West. MedMen could eventually open as many […]

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Maine could ease state residency rules for adult-use marijuana licenses

A legislative committee in Maine approved rules that would relax state residency requirements for companies looking to qualify for recreational marijuana licenses. The move could open up new opportunities for Maine businesses that are interested in adult-use cannabis opportunities but are controlled by out-of-state firms. Here’s what you need to know: The committee’s amended rules […]

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Los Angeles seeking advisers for cannabis social equity program

The Los Angeles Department of Cannabis Regulation (DCR) issued a request for qualifications as it searches for consultants to help shape what is thought to be the largest municipal marijuana social equity program in the nation. The agency is looking for “consultants to develop and conduct business development curriculum, training, business, licensing and compliance assistance, and […]

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California doesn’t plan to raise marijuana excise tax in July

Although the California cannabis industry probably won’t see any state-level tax relief anytime soon, at least the excise tax won’t go up in July. The state Department of Tax and Fee Administration (CDTFA) confirmed in an email to Marijuana Business Daily that the 60% markup rate that provides the basis for California’s 15% excise tax will […]

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Week in Review: MJBizConNEXT in New Orleans, OR preps for future interstate MJ potentials, NV cannabis board & more

The cannabis industry descends on New Orleans to explore emerging trends at MJBizConNEXT, Oregon lawmakers pass a bill that would empower it to make agreements with other states for the transfer of marijuana, Nevada creates a cannabis control board and says no to social use licensing for now – plus other important news from around the industry. […]

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