Growth equals green in more ways than one. The cannabis industry wants a seat at the table with lawmakers. The burgeoning industry is working to ensure continued growth, and it’s putting money where it counts, with a forecast for spending $3.2 million on lobbyists in Washington. This slightly eclipses the $2.7 million it spent lobbying […]
Florida has watched from the sidelines for years as other states such as Colorado, Oregon, and California legalized recreational marijuana. Numerous groups are clamoring for legalization recreationally, and simultaneously, the Florida laws that created a vertically integrated business model for distributing medical marijuana were rejected by Florida’s 1st District Court of Appeal. With Florida in […]
The marijuana industry is on fire in the US, and it’s showing no signs of slowing down. With the fourth quarter of 2019 still ahead of us, the industry is positioned to bring in more than the $52 million in sales posted already. But that’s not the end of it. Recreational marijuana use is legal […]
It appears that the old-school pioneers of Michigan’s cannabis industry could be left out of the wagon train as the industry prepares to open its first adult-use recreational marijuana stores by the end of 2019. Michigan’s Marijuana Regulatory Agency (MRA), which oversees both the medical and upcoming adult-use retail industries, released new rules in July. […]
Companies from every industry, from farms to food to cosmetic manufacturers, are joining the CBD rush. The result is that everyone, from regulators to customers, is trying to wrap their arms around this popular product, where, beyond a few cannabis-legal states (where the CBD market is strictly regulated and tested), the regulatory rules are minimal to […]
The cannabis industry faces sustainability issues, with most topics circling back to those that relate to the industry’s energy use, water use, pesticide application and plastics. As additional states legalize cannabis, it would appear that the focus is toward a more comprehensive and thoughtful approach in the planning stages to areas frequently critiqued. The industry […]
Cannabis sales in the US are expected to increase by 35% in 2019, and are forecast to surpass the $12 billion mark by the end of the year. These exclusive market projections and more are detailed in the 7th edition of Marijuana Business Factbook, courtesy of the Editors of MJBizDaily. According to the data, the […]
As a whole, the cannabis industry is already huge. However, as states continue to legalize cannabis for both medicinal and recreational use, analysts expect the market to continue to grow. According to Forbes, in 2018 alone, the cannabis industry brought in nearly $10 billion in sales while also generating millions more in tax revenue for […]
In 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 […]
Canadian cannabis producers Tilray Inc and Aurora Cannabis Inc reported an increase in quarterly revenue last month, attributing the boost to increased demand. Canada was the first industrialized nation to legalize recreational cannabis in an effort to eliminate the black market, but continued growth in this industry is currently limited by lack of supply. When […]
