What to do when your marijuana business goes up in smoke
(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.) Owning a marijuana business can be as volatile as the industry itself. So, what do you do if your company goes up in smoke? For plant-touching...
Illinois races to $1 billion in cannabis sales faster this year than in 2023
Total cannabis sales in Illinois surpassed $1 billion for the second consecutive year. But it happened faster this year. ADVERTISEMENT Illinois’ marijuana industry reached the $1 billion sales mark on July 10 last year but hit that threshold this year on July 1,...
New York touts legal marijuana sales spike as new licenses issued
New York state’s ongoing quest to squash the illicit market and rescue its failed adult-use cannabis launch continued this week as regulators issued 109 more marijuana business licenses. Newly licensed businesses combined with padlocking the doors of 164 illegal...
Cannabis tech provider Lucid Green raises $1.4 million for expansion
(This story has been updated to include the investors and the fact it’s a Series C funding round.) Lucid Green, a cannabis supply-chain service provider based in New York, said it has raised $1.4 million to fund expansion into new markets. The company told...
Canadian hemp license numbers decline for third straight year
Active Canadian hemp licenses declined for the third year in a row with all provinces or territories showing double-digit permit declines from 2022. The number of hemp licenses has been declining in Canada since 2020, when it peaked at 1,269, according to new data...
Congress asks FDA for hemp-derived cannabinoid powers in spending bill
An influential Republican-controlled House of Representatives committee passed a spending bill on Wednesday that addresses the proliferation of hemp-derived cannabinoid products. In the Agriculture, Rural Development, and Food and Drug Administration bill approved in...
Arkansas medical cannabis sales down $5.5 million in first half of 2024
Medical cannabis dispensaries in Arkansas recorded $135.5 million in sales from Jan. 1 to June 30 this year, down from $141 million during the same six-month period in 2023. ADVERTISEMENT That’s a decrease of $5.5 million, or 4%, over the same period, Springdale TV...
House Republicans pass budget bill that would block marijuana rescheduling
A committee in the Republican-controlled U.S. House of Representatives passed a budget bill on Tuesday that would disrupt the Biden administration’s move to reschedule marijuana. Language in the $78.2 million funding bill stipulates the Department of Justice can’t use...
Florida’s Libertarian Party backs ballot measure legalizing adult-use cannabis
The Libertarian Party of Florida is throwing its weight behind a November ballot measure that would legalize adult-use cannabis, and recent polling suggests passage. “This amendment reflects the growing recognition that individuals should have the freedom to make...
Can Germany avoid overproduction as new marijuana markets ramp up?
Germany dramatically liberalized its medical marijuana program this year by removing cannabis from its narcotics list, a change that makes it much easier to obtain a physician’s prescription for the drug. As a result of this change, Germany’s medical cannabis...
When will Ohio launch adult-use cannabis sales? Here’s what we know
The calendar has flipped well into July, and Ohio regulators have yet to grant any final approvals for retailers to launch adult-use cannabis sales. The delays are an unwelcomed reality for local operators who hoped to cash in the perennial boost of the Fourth of July...Featured
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