MJBizDaily Newsletter

Get our daily email

More Exclusive Features

Marijuana businesses increasingly plan to sue if regulators fail to award them a business license

Cannabis companies, particularly multistate operators (MSOs), are increasingly incorporating lawsuits into their licensing application strategy in a bid to secure a permit in a highly sought-after market. That strategy of preparing to fight license rejections by state regulators, especially those lost by a narrow margin, is based on a number of factors: Many marijuana business […]

Read More

BNY Mellon’s cannabis-limiting move highlights inconsistencies in banking but could help in the long run, sources say

Just as potential marijuana banking progress appears on the horizon at the federal level due to the U.S. House of Representatives’ passage of the SAFE Banking Act, one major bank has stopped clearing a significant chunk of cannabis-related trades. The move by New York-based BNY Mellon’s Pershing unit immediately dashed some of the optimism from […]

Read More

Week in Review: Early freeze costs largest CO marijuana cultivator millions, Weedmaps lays off 100+, MJ licensing probes escalate & more

Colorado’s largest marijuana cultivator suffers an early freeze that is expected to trigger a supply disruption in the state, more than 100 Weedmaps employees receive pink slips, enforcement efforts intensify to root out corruption in local and state cannabis licensing – and more of the week’s top cannabis business news. Supply freeze Colorado’s largest cannabis […]

Read More

Northeast governors take big step toward regional cannabis coordination

Democratic governors from New York, New Jersey, Pennsylvania and Connecticut took a landmark step Thursday toward coordinating recreational marijuana legalization efforts, agreeing on basic principles involving market regulation, taxation and social equity. They also focused on the vaping crisis, agreeing that states should either ban flavored vaporizer products or regulate them to reduce their attractiveness […]

Read More

Buying cannabis licenses on secondary market more of a sure bet than applying for state business permits

As the marijuana industry matures and companies expand, many smaller, original growers and retailers are putting their licenses up for sale through the secondary market – much like selling a house. The growing trend is giving cannabis entrepreneurs a new avenue to secure a valuable business permit versus going through the state application process, which […]

Read More

Cannabis advertising firm Weedmaps cuts 100-plus jobs in response to slow adult-use market rollouts

California marijuana advertising giant Weedmaps announced Wednesday it laid off 25% of its workforce, blaming the slow rollout of recreational MJ markets in California and Massachusetts and a dwindling pool of outside funding. The job cuts – disclosed by Weedmaps CEO Chris Beals via Twitter – amount to more than 100 people. They affect the company’s […]

Read More

Colorado’s largest cannabis grower loses millions of dollars in early freeze; supply disruption expected

The largest marijuana grower in Colorado – Pueblo-based Los Sueños Farms – disclosed it lost millions of dollars during an early winter storm after half the company’s plants froze before harvest could be completed. The crop loss in Southern Colorado is expected to send ripples throughout the state’s cannabis supply chain, reducing the supply of […]

Read More

New California laws allow some marijuana firms to deduct expenses on state returns, help normalize MJ as ag commodity

Cannabis-related bills signed into law by California Gov. Gavin Newsom are significant steps in both providing marijuana businesses with the ability to write off business costs on state tax returns as well as normalizing cannabis as an agriculture commodity for cultivators. On Oct. 12, Newsom signed Assembly Bill 37, which will allow California’s cannabis businesses to […]

Read More

Chart: How medical cannabis programs fare in states with recreational markets

The legalization of recreational cannabis can put a big dent in a state’s pre-existing medical marijuana market. Patient counts in Colorado, Massachusetts, Nevada and Oregon – the only states with both an active recreational marijuana industry and a pre-existing MMJ patient database – have all suffered in the months and years since the launch of […]

Read More