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Cannabis banking bill advances in committee; full US House vote expected within weeks

Published March 28, 2019 | By Jeff Smith

A key U.S. House committee voted resoundingly Thursday to provide federal protection for financial institutions that serve state-authorized marijuana and ancillary businesses, a landmark development for cannabis banking legislation. The House Financial Services Committee voted 45-15 to advance the bill, the Secure And Fair Enforcement (SAFE) Banking Act, after amending it to include provisions to […]

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Decision day for New Jersey? $1.5 billion recreational cannabis market at stake

Published March 24, 2019 | By Jeff Smith and Eli McVey

New Jersey lawmakers could vote as soon as Monday on whether to legalize adult-use marijuana, with hundreds of millions of dollars of new cannabis business opportunities at stake in the decision. Marijuana Business Daily projects a legal recreational industry in New Jersey could potentially generate $1.2 billion-$1.5 billion in annual retail sales by 2023. But the outcome […]

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California state marijuana excise tax could go up July 1

Published March 23, 2019 | By John Schroyer

Although the California marijuana industry has hoped for tax relief as it struggles to compete with a thriving illicit market, a tax increase could be on the way. A tax hike would hit cannabis companies’ bottom lines and could drive more consumers into the illicit market in search of cheaper marijuana products. But an increase […]

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California cannabis firms struggle to make sense of new track-and-trace system, fanning fears over its expanded rollout

Published March 21, 2019 | By Celene Adams

Many California marijuana business executives welcome the state’s newly mandated track-and-trace system as an opportunity to ensure industry transparency – but they worry the technology’s rollout could prove rocky. Industry officials report widespread confusion about how to operate Metrc, the software the state relies on to power the track-and-trace system. Confusion also swirls around how […]

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