Cannabis News Box

Massachusetts has raised over $150 million in tax revenue from cannabis sales

https://www.weednews.co/full-text-of-massachusetts-question-4-2016-marijuana-legalization-initiative/

August 24, 2020

Massachusetts has collected over $150 million in tax revenue from cannabis sales since the state began selling cannabis at the end of 2018. That’s from nearly $800 million in total cannabis sales. That tax revenue is really important right now, as states are struggling to maintain their budgets while...

These states will likely be voting on cannabis legalization in November

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Bethan Rose Jenkins, Cannabis News Writer/Editorial

August 20, 2020

In less than three months, election day will commence. The event is sure to be unpredictable, what with 435 seats up for grabs in the House of Representatives. Moreover, approximately a third of seats in the Senate will be at stake, in addition to the oval office. Above all, the outlook for legal cannabis remains pr...

New cannabis czar selected by governor of Illinois, where adult-use cannabis tax revenue could be added to social equity

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Bethan Rose Jenkins, Cannabis News Writer/Editorial

August 15, 2020

A new cannabis “czar” has been selected by Illinois Gov. J.B. Pritzker to provide oversight for the state’s industry — former Obama administration insider Danielle Perry. The state Senate must now confirm the new position before Perry can commence with regulatory oversight for the newly launche...

Michiganders have already snapped up $200 million worth of recreational bud in 2020

https://www.google.com/search?q=michigAN+Cannabis&safe=strict&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjFzubTstzjAhXc8HMBHV-vBbYQ_AUIEigC&biw=1280&bih=689#imgrc=Qa_VSveyK31JKM:

Bethan Rose Jenkins, Cannabis News Writer/Editorial

August 15, 2020

A recent report from Michigan Radio confirmed that $200 million worth of recreational cannabis products were purchased during the first seven months of 2020. The state launched its adult-use cannabis market on November 1, 2019. This past June, sales of recreational cannabis in Michigan exceeded medical...

Michigan’s plant count rules may affect long-term potential of cannabis microbusinesses

https://www.google.com/search?q=michigAN+Cannabis&safe=strict&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjFzubTstzjAhXc8HMBHV-vBbYQ_AUIEigC&biw=1280&bih=689#imgrc=Qa_VSveyK31JKM:

Bethan Rose Jenkins, Cannabis News Writer/Editorial

August 12, 2020

Concerns regarding the practicality of cannabis microbusiness licenses in Michigan are surfacing as of late, with state lawmakers now working to amend draft regulations that previously limited flowering plant production statewide. If the rules change, licensees participating in Michigan’s adult-use canna...

Arizona’s prospective recreational cannabis market is attracting investor interest

Arizona's prospective recreational cannabis market is attracting investor interest

Bethan Rose Jenkins, Cannabis News Writer/Editorial

August 12, 2020

When analysts pinned a $750 million valuation on Arizona's medical cannabis market, investors and "cannapreneurs" quickly started wondering how much a prospective recreational market could be worth in the conservative state. If all goes well this November, we will soon find out.  On Monday, Augu...

Nevada regulators slam cannabis company with $1.25 million fine, investigate three other businesses

Nevada regulators slam cannabis company with $1.25 million fine, investigate three other businesses

Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 31, 2020

The state of Nevada just got its very own Cannabis Compliance Board, which didn't waste in time in punishing wrong-doers. During the Board's inaugural meeting on Tuesday, July 21, vertically-integrated cannabis operator CWNevada was penalized for violating various regulations set out by the state. Based ...

Curaleaf closes its Grassroots deal to expand operations across 23 states

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Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 31, 2020

Curaleaf's long-awaited acquisition of cannabis multistate operator Grassroots Cannabis was announced on Thursday, July 23. Grassroots, a privately-held company based in Chicago, has received  an undisclosed amount for the deal, which will see Massachusetts-based Curaleaf expand operations across 135 dispen...

Michigan’s bulging adult-use cannabis market encounters supply issues and limited municipal opt-ins

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Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 30, 2020

Michigan is seven months into its legal recreational cannabis market, which appears to be growing at a colossal rate. The initial month of sales – last December – totaled $7 million. Comparatively, sales in May 2020 soared to $39 million. Estimates from the Marijuana Business Factbook pinned Michi...

November ballot looks set to feature adult-use cannabis legalization in Arizona

November ballot looks set to feature adult-use cannabis legalization in Arizona

Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 29, 2020

At the beginning of July, signatures backing an initiative to legalize recreational cannabis in Arizona were submitted to state officials. The proposed law, which is likely to be featured on the November ballot, would develop a regulated adult-use market. Pro-cannabis lobbyists at Smart and Safe Ari...

Illinois’ adult-use cannabis industry is successful, but strained by lack of supply

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Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 29, 2020

During the first six months of legal recreational cannabis sales in Illinois, the state managed to harvest $52 million in revenue. While it's clear that the market has thrived since the Cannabis Regulation and Tax Act was enacted in January, supply concerns are lingering for both the medical and adult-use markets. Something t...

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