Voters have some big decisions to make when they cast their ballots by Nov. 3. A Joe Biden presidential victory could lead to the decriminalization of marijuana at the federal level, which would certainly be a big step forward for the industry though it would stop short of full federal legalization. In addition, Arizona, New Jersey, South Dakota, and Montana could be among the next states to legalize marijuana for recreational use as their voters decide whether to allow adult-use pot.
WeedLife News Network
Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife Social Network.
A new bill has been introduced to Congress by a team of Democratic senators who think it’s unfair that cannabis businesses in legal states are excluded from federal aid while other businesses in the state are able to get a leg up with government-funded help.
Six months after medical marijuana became legal for purchase inside Utah for the first time, the program has already surpassed enrollment projections.
But high demand has also led to shortages in both product and providers interested in recommending medical marijuana to patients.
“It’s been going. It’s been going well, as with all new programs and people starting and really pushing to get up and going like they did early on — and now (producers) are starting to find their traction to be able to keep moving forward,” said Cody James, manager of the Utah Department of Agriculture’s Industrial Hemp and Medical Cannabis Program.
Utah medical cannabis patients have gotten used to a cash-only system, as many banks and credit card companies still refuse to work with cannabis businesses. Now, in light of the hassle and potential theft risk that causes, as well as sanitation risks due to COVID, a new app that allows for cashless transactions is being rolled out.
While most of Washington, D.C. is distracted by the Supreme Court drama, a buzz is building around one particularly green issue — namely whether the U.S. House of Representatives could be set to pass a bill to legalize cannabis as early as this month.
The Hawai‘i State Department of Health issued a formal notice to proceed to Hawaiian Ethos LLC on the island of Hawai‘i and Manoa Botanicals LLC, dba Noa Botanicals on O‘ahu, after both passed their final onsite inspections for their third retail facilities.
Hawaiian Ethos’ new retail location in Hilo at 578 Kanoelehua Avenue expects to begin sales on Saturday, Sept. 26, 2020. Noa Botanicals’ new retail location in ʻAiea at 98-302 Kamehameha Highway expects to open today.
With cannabis prohibition on the decline and medical marijuana now legal in 33 states, it’s a great time for innovators to create new and exciting technology to improve how people cultivate and consume cannabis.
However, it hasn’t always been this way.
Despite the pandemic, cannabis sales in Illinois continue to increase. But it’s not just in-state sales. Sales to out-of-state consumers in Illinois has nearly doubled since January.
Of the nearly $64 million in total adult-use cannabis sales in Illinois for August, $17.2 million was in “out-of-state resident sales.” That’s nearly double the $8.6 million in out-of-state sales back in January.
Pam Althoff, executive director of cannabis business group CannaBiz, said people are more anxious because of COVID-19.
“The knowledge is now common that Illinois did pass recreational cannabis use, is now out there and people are coming in and trying,” Althoff said.
Illinois has been making major headlines in the cannabis sector, as some groups cry out that the plans for granting new business licenses are not inclusive enough of minorities, and that the lottery system for choosing new businesses license holders is unfair.
The West Coast wildfires may finally be slackening a bit thanks to kinder winds, merciful rain, and the heroic efforts of firefighters from Canada to Mexico, but the fight is far from over for cannabis growers whose crops went up in smoke and cannabis companies who will be struggling to stay afloat due to the diminished supply. The one-two punch of Covid-19 and the historic fires that ravaged (and in some cases are still ravaging) huge swaths of the western states may prove to be more than some businesses can withstand despite some industry leaders stepping up to lend a hand.
Nature’s Medicines, which has two medical marijuana dispensaries in the Valley, has announced that they’ve launched a medical marijuana delivery service in the Phoenix metro area.
“Our medical marijuana patients will now be able to order their favorite cannabis products at our low dispensary prices without the markup charged by other delivery services and get them delivered right to their front door,” said CEO Jigar Patel.
European Industrial Hemp Association Managing Director Lorenza Romanese tells MCN about Novel Foods legislation and industrial hemp in the EU.
The European Industrial Hemp Association (EIHA), founded in 2005, is the only pan-European membership body serving the industrial hemp sector, boasting members from 25 EU Member States and 12 third countries.
A cadre of lawyers, accountants, insurers and real estate agents expect big returns from the start of adult-use marijuana sales in Maine on Oct. 9 as companies seek professional help to navigate the complicated new market.
While they had previously shied away from touting their “green business” clientele in Maine, those professionals now are openly advertising specialties in the highly regulated recreational marijuana business as it comes with increasing oversight at the state and federal levels.
There's no question that this is going to be a big decade for the technology sector. We're liable to see a demand explosion for cloud computing, cybersecurity, and Internet of Things devices. But don't sleep on the marijuana industry.
Although Wall Street estimates vary wildly, as we'd expect from an industry with no modern-day precedent, global sales could hit anywhere from $50 billion to $200 billion a year by 2030. For some context here, worldwide legal weed sales didn't even hit $11 billion in 2018.
But every fast-growing industry encounters growing pains. In Canada, regulatory issues have constrained supply. Meanwhile, in the U.S., high tax rates on legal weed have made it difficult for licensed producers to compete with the black market.
As federal marijuana legalization in the United States remains off the table, a non-profit coalition of reform advocates and businesses in the pot industry is pursuing a plan to legalize interstate cannabis commerce next year.
As reported by Marijuana Moment this week, the Alliance for Sensible Markets has released a plan under which the group will urge governors across the country to enter interstate compacts in order to facilitate the movement of cannabis between states where pot has been legalized.
An interstate compact represents an agreement allowed under the U.S. Constitution between two or more states, which depending on the subject matter needs congressional approval.
Cannabis sales in Colorado and Illinois reached record highs in July and August, data from both states reveals.
According to the Colorado Department of Revenue, adult-use cannabis sales eclipsed $183 million in July and $954 million year-to-date.
Cannabis legalization advocates often tout the plant's potential to boost state coffers.
