An Illinois bank stops serving Illinois medical marijuana businesses, Massachusetts begins its recreational cannabis licensing process, and a Florida MMJ company takes the state to court. Here’s a closer look at some notable developments in the marijuana industry over the past week. Illinois banking issue The Bank of Springfield’s decision to quit working with Illinois […]
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California testing labs expect marijuana ‘bottleneck’ in July
Marijuana testing labs are going to be the gatekeepers for California’s legal cannabis industry come July 1, when only lab-tested products may be sold by licensed retailers. And that means this summer could become a pain for any licensed cannabis company in the Golden State since most labs are predicting a shortage of testing services, […]
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Canadian analysts eye ‘catalysts’ to reverse cannabis stock freefall
Canadian cannabis stocks are down over 40% since peaking in early January, leading analysts to speculate about what might ultimately trigger a rebound. The Canadian Marijuana Index, a basket of the leading cannabis stocks operating in Canada, is 40% off its peak, or a loss of nearly 15 billion Canadian dollars ($12 billion) in market […]
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Marijuana businesses experimenting with blockchain technology, but skeptics persist
A small yet growing number of marijuana businesses are adopting or experimenting with a nascent technology born out of the cryptocurrency phenomenon. Advocates say the technology, known as blockchain, could potentially: Solve the payment and banking hurdles facing cannabis businesses. Help companies obtain loans. Be used for seed-to-sale tracking – a common requirement in legal […]
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Investing in cannabis: Q&A with Kevin O’Leary of ‘Shark Tank’
Billions of dollars in investment capital are waiting on the sidelines, watching the global marijuana industry boom. And that money will continue sitting the game out until Congress takes action to resolve the fact that marijuana is illegal at the federal level. That’s the core message from deep-pocketed investor Kevin O’Leary, a star on the […]
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Chart: Medical marijuana patient counts, sales tumble in Maine
With adult-use sales still at least a year out in Maine, the gray market for cannabis is burgeoning – largely at the expense of the state’s regulated medical marijuana industry. Sales of MMJ through Maine’s eight licensed dispensaries fell by over $2 million in 2017 – a 9% decline – on the back of an […]
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Week in Review: California-Canada union, New Jersey’s MMJ expansion & a GOP thumbs-up for hemp
A Canadian cannabis business buys three California MJ companies, New Jersey expands its medical marijuana program, and a key Republican goes to bat for industrial hemp. Here’s a closer look at some notable developments in the marijuana industry over the past week. Northern invasion The announcement that yet another Canadian company – Ontario-based CannaRoyalty Corp. […]
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Could IRS policy change strip marijuana trade associations of tax exemption?
The Internal Revenue Service issued a 280-page policy update in January, and buried deep inside is what appears to be a ban on future nonprofit organizations that lobby on behalf of the marijuana industry. That could make life a lot harder for advocacy groups trying to change cannabis laws across the nation – depending on how […]
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Wine-related firms look to uncork opportunities in marijuana
A growing number of companies that service the wine industry are now pursuing opportunities in the cannabis sector, hoping to generate new revenue streams. For marijuana businesses, that means a host of potential new ancillary companies to choose from, as well as added legitimacy from an industry that once appeared to be a potential enemy. […]
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Dried medical cannabis exports from Canada rise tenfold in 2017
Canadian licensed producers are exporting a record amount of medical cannabis in their drive to establish toeholds in burgeoning overseas markets.
Shipments of dried medical marijuana have soared since 2015, according to data shared with Marijuana Business Daily by Health Canada.
Just over 522 kilograms of dried cannabis was exported to four countries last year, more than 10 times the 44.8 kilograms shipped abroad in 2016.
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Alaska recreational cannabis supply on the upswing, wholesale marijuana still fetching high prices
Alaska’s recreational cannabis market is slowly maturing. Supply is catching up to demand, but wholesale and retail prices remain some of the highest in the nation among adult-use marijuana markets. According to several business owners in the state, prices for a wholesale pound of cannabis flower in the Last Frontier range from $2,800 to $5,000 […]
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April Issue
Amid growing criticism, NCIA chief Aaron Smith admits missteps and hopes to move the trade group in a new direction.Read the Issue