California lawmakers approved $100 million in grant funding to help legal cannabis businesses transition from provisional licenses to annual ones, in a move aimed at stemming the state’s thriving illicit marijuana market. More than 80 percent of California’s legal marijuana businesses currently operate with provisional licenses under a process described as “expensive, time-consuming and difficult” […]
read moreIf you haven’t heard of Weedmaps, it’s kind of a big deal in the cannabis industry. Weedmaps provides software infrastructure and is one of the big players in cannabis tech and software. Based in California, the company has branched out, producing a docuseries, Uprooted, that takes a close look at the state’s cannabis industry struggles, […]
read moreCalifornia generated $635 million in cannabis tax revenue in 2019, thanks to Proposition 64. Passed in 2016, Prop 64, also known as the Control, Regulate and Tax Adult Use of Marijuana Act, legalized the use of marijuana for those over the age of 21, created laws, and assessed taxes to regulate the cultivation, distribution, sale, […]
read moreYou might think that with legalization, in California, the “world’s largest marijuana marketplace” would be booming. Nope. Since California legalized weed, the anticipated constant flocking of customers, willing to abide by the law, hasn’t materialized as planned. Sales in the legal marketplace have flat-lined, while black market weed has been filling in the gaps, providing […]
read moreHow is it possible that California’s burgeoning cannabis industry is suddenly foundering, resulting in massive layoffs? Voters in the state legalized recreational marijuana in 2016, although it was just in 2018 that rec sales finally started. While the intention might have been to institute a profitable, licensed and legal marketplace, the reality is that lawmakers […]
read moreIn a focused effort to eradicate unlicensed and non-compliant entities operating in the recreational marijuana industry, California regulators made a bold statement, suspending 394 cannabis business permits for retailers, distributors, delivery services, and microbusinesses. According to a report from the Associated Press, that’s about five percent of the state’s legal cannabis supply chain, gone — […]
read moreIt’s official — California Governor Gavin Newsom signed a bill that makes medical marijuana donations tax-exempt to terminally ill individuals in the state. Thanks to the Brownie Mary and Dennis Peron Act, aka Senate Bill 34, which emerged during the beginning of California’s legal adult-use market, starting March 1, 2020, state analysts estimate that up […]
read moreThe first half of 2019 was a busy one for California’s illegal cannabis industry. In a state that has struggled with the enforcement of the illicit side of cannabis, the state Bureau of Cannabis Control served 19 search warrants on unlicensed sellers of marijuana. Through their efforts, the bureau confiscated over $200,000 in cash from […]
read moreIn an effort to overcome the banking hurdle faced by the legal cannabis industry, Senate Bill 51 passed legislation to allow state-chartered cannabis banking. The bill still requires the approval of the Assembly and California State Governor Gavin Newsom before it becomes law. Through the provisions of SB 51, private banks and credit unions would […]
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