Michigan is yet another state that legalized adult-use marijuana sales, and those transactions have brought in bank. Legal sales started December 1, and in that first month, the state tallied almost $6.5 million in sales. The industry is expected to continue to grow at a rapid pace in 2020 as more retail licenses are issued. […]
In an effort to squelch rumors, in a statement to the website Marijuana Moment, Coca-Cola vehemently denied any plans to join the CBD market. The denials came after a man, who goes by the name Gabor the Blind Guy on YouTube, claimed to have insider knowledge from his father that the soft drink giant was […]
In a better-safe-than-sorry move, the Washington State Liquor and Cannabis Board (LCB) removed an online map that showed the locations of cannabis producers and processors in the state after a string of burglaries. The LCB has not compiled data about burglarized cannabis companies since the inception of legal cannabis in 2014. Still, in November, at […]
The first day of legal recreational cannabis in Illinois proved to be a lucrative one. On the first day of legal sales, over 77,000 transactions resulted in almost $3.2 million in sales. Those eagerly anticipating a cannabis purchase waited in line outside dispensaries — some queuing up the day before legalization. The amount spent in […]
After the passage of the 2018 Farm Bill, CBD has increased in popularity (and profitability), making 2019 another strong year for cannabis. Investors remain plentiful and optimistic about the industry, continuing to infuse a new sector with cash. Investment totals for 2019 hit 2018 levels by the third quarter, and as legalization swept across the […]
You 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 […]
Recreational cannabis was approved by voters and legalized in Maine in November… 2016. The state started accepting license applications on December 5, 2019. Maine already boasts an established medical marijuana program, and analysts predict the state will generate $158 million from the first year of sales. So why the three-year delay from legalization to implementation? […]
The cannabis industry in the U.S. made serious progress in 2019, which isn’t too shabby considering the feds still consider it illegal. Hemp and CBD regulation was a huge topic this year. Along with additional states legalizing medical and recreational cannabis and the SAFE Banking Act, the U.S. Department of Agriculture (USDA) released interim hemp […]
The first state to go legal has made bank. Since Colorado legalized marijuana, the state has sold over $7.6 billion — yup, you read that right — in total cannabis sales since legalization started on January 1, 2014. The state has consistently topped prior year sales, making 2019 the fifth year in a row Colorado […]
Recreational marijuana sales have been booming in Massachusetts, and the numbers don’t lie. Folks spent a pretty penny on cannabis in 2019 — the first full year of legitimate recreational cannabis brought in close to $400 million in recreational adult-use sales. From that, the state collected $61 million in taxes. The Massachusetts Department of Revenue […]
