US House leader 'hopeful' cannabis legalization coming

The chair of a key U.S. House panel that is poised to approve a sweeping marijuana legalization measure Wednesday said he is “hopeful” that the full House will pass the bill in this congressional session, which ends Jan. 3, 2021. House Judiciary Committee Chair Jerrold Nadler indicated at a news conference that it is unlikely the Marijuana Opportunity Reinvestment and Expungement (MORE) Act would go to the House floor before year-end because “we’re rather busy” and more bipartisan support is needed. The bill would remove marijuana from the Controlled Substances Act and earmark tax revenues to help small companies and the economically disadvantaged secure cannabis business licenses.

– Jeff Smith

Nevada marijuana testing lab suspended by authorities

Regulators in Nevada suspended the license of a marijuana testing lab after investigators discovered what they described as “inaccurate and misleading” potency in cannabis products. In the first license suspension of a marijuana testing facility in Nevada, Sparks-based Certified Ag Lab was ensnared in the state’s investigation of cannabis laboratories, according to the Las Vegas Review-Journal.

 

 

Florida-based Trulieve Cannabis reports record revenue

Trulieve Cannabis Corp., a Florida-based multistate operator, posted record revenue of $70.7 million in its third quarter ended Sept. 30, a 150% increase over revenue of $28.3 million during the same period in 2018. Net income rose from $17.5 million in the third quarter of 2018 to $60.3 million in the same period in 2019. The company, a dominant player in Florida’s medical marijuana industry, has benefited from the surge of business since smokable flower was allowed in the state in March.
A chart displaying the quarterly earnings for major cannabis companies is available here.

Washington state bans vitamin E acetate in marijuana vape products

Washington state regulators banned the sale and distribution of any products containing vitamin E acetate, an additive in some cannabis vaping products identified as a likely culprit in the vaping health crisis. The ban by the Washington State Board of Health goes into effect Wednesday. The Washington State Liquor and Cannabis Board along with the health department recently asked cannabis companies to voluntarily stop making products containing vitamin E acetate. The ban on production and distribution will now be mandatory.

For more of Marijuana Business Daily’s ongoing coverage of the vaping crisis, click here.

– Bart Schaneman

California marijuana market expected to struggle for years

California’s struggling marijuana market likely will need at least a couple of years to overcome hurdles such as a still-vibrant black market, industry layoffs and the fallout from the national vaping crisis, some of the state’s top cannabis regulators said at an industry conference.

– Associated Press

3 comments on “Washington state vape products ban
  1. William Fowler on

    The California “black market” will continue to thrive, while the “legal” market will soon be exposed to
    federal taxation rates from 70% to even higher. The black market has no state or federal taxation; therefore, what has the black market have to lose? Maybe the answer lies in the corrupt California enforcement that probably sees extreme amounts of cash going towards payouts so the black market continues its immunity. One must ask the question of “why” so many illegal cannabis dispensaries and cultivators still operate? Is it because enforcement looks the other way because of the cash cow that is evident to all? Federal Agencies such as FBI and other law enforcement agencies are starting to dig into why California still has a huge illegal market. Possibly, the answer lies in large corporations making payoffs to obtain state licenses and of course, greasing the palms of politicians and local law enforcement..

    Reply
  2. Arthur Kessler on

    So the State raises cannabis taxes that should be lowered. The State administration while outwardly pro licensed cannabis businesses in effect is helping rogue businesses with additional taxes on licensed businesses. Typical government stupidity. Or is it an intentional move to destroy legal cannabis?

    Reply
  3. david on

    I think we need a renewed war on plants in California. The BCC should spend all of it’s resources on law enforcement and education .
    The black market is not allowed to advertise or educate, but the BCC can. Full page adds showing the public that paying twice the market rate for their flowers is vital for the state run cartel to thrive and make billions. Any promotional help will be appreciated by the consumer.
    I’m sure that they will make the obvious choice.

    Reply

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