Category: Business

  • More Sponsors Bolster Democrat Federal Marijuana Legalization Bill

    More Sponsors Bolster Democrat Federal Marijuana Legalization Bill

    Back in September of last year, Jerry Nadler reintroduced the MORE Act, which would legalize marijuana across the country and aid those effected by the War on Drugs. This was the third time it was introduced in the House after passing through twice before and getting nowhere in the Senate. Back in September, was introduced…

  • Ohio Lawmakers Believe Legalization Will Happen At The Ballot

    Ohio Lawmakers Believe Legalization Will Happen At The Ballot

    A recent survey of Ohio lawmakers indicates that 54 percent of them believe voters will approve a ballot initiative next month to legalize marijuana in the state. This expectation is shared by both Democratic (63 percent) and Republican (52 percent) lawmakers, despite the GOP-controlled Senate’s recent resolution urging voters to reject the reform. The survey,…

  • Canadian Cannabis Growers Are Switching To Growing Veggies And Other Produce

    Canadian Cannabis Growers Are Switching To Growing Veggies And Other Produce

    Canada’s cannabis industry, once hailed as a budding success, has faced persistent challenges due to oversupply and competitive pressures. As a result, some of the country’s largest cannabis cultivators are exploring alternative avenues to maintain profitability. These companies are now venturing into the realm of fruits, vegetables, and ornamental flowers as a strategy to diversify…

  • Senators Advance Cannabis Banking Reform Bill for First Time

    Senators Advance Cannabis Banking Reform Bill for First Time

    Members of the United States Senate Committee on Banking, Housing, and Urban Affairs voted today to advance legislation, the SAFER Banking Act, which allows financial institutions to more readily establish relationships with state-licensed cannabis businesses. Although members of the House have passed an earlier version of the legislation — the SAFE Banking Act — on…

  • Weed Stocks are a rollercoaster but here’s where they stand

    Weed Stocks are a rollercoaster but here’s where they stand

    Two and a half years ago, weed stocks had a bit of a moment. In February 2021 pretty much every stock shot upwards due to a democratic president being elected and a general optimism in the air for legalization. YOLO ETF reaching (almost) new heights in February 2021. Since then, it’s been a slow and…

  • Here’s what the deal is with Marijuana moving to Schedule III

    Here’s what the deal is with Marijuana moving to Schedule III

    Bloomberg News just got a huge scoop: a letter sent from the Department of Health and Human Services to the DEA recommending that marijuana be moved from Schedule I to Schedule III in the list of Controlled Substances. There has been a lot of reaction to this move – some very good and some very…

  • Illinois Cannabis Prices Rise To Highest In The Nation

    Illinois Cannabis Prices Rise To Highest In The Nation

    Illinois has emerged as one of the states with the highest retail cannabis prices in the country, according to a recent report released by Headset. The report, titled “A Deep Dive into the Illinois Cannabis Market,” delved into various factors that contribute to the high cost of cannabis in the state. In the first half…

  • New Surveys Show Over 2.7 Million New Yorkers Consume Cannabis Monthly

    New Surveys Show Over 2.7 Million New Yorkers Consume Cannabis Monthly

    State cannabis regulators in New York issued a statement saying that over 2.7 million New Yorkers consume cannabis at least once a month. Their research only backs their pleas to introduce a more robust legal marketplace for cannabis. John Kagia, director of the state Office of Cannabis Management said that “There is a large established…

  • State Policy Weekly Update 7/12/2023

    State Policy Weekly Update 7/12/2023

    Marijuana-related reform legislation continues to advance in several states. This week’s update highlights legislative developments in California, Maine, Massachusetts, New Jersey, New York, and Pennsylvania. LEGALIZATION Pennsylvania Senate Bill 846 legalizes the adult use of marijuana, permitting those ages 21 and older to possess and purchase up to 30 grams of cannabis. The bill would…

  • 280E is Harming Legal Cannabis Businesses; These States are Legislating Change

    280E is Harming Legal Cannabis Businesses; These States are Legislating Change

    Section 280E of the Internal Revenue Code (IRC) explicitly prohibits businesses engaged in the trade or distribution of either Schedule I or Schedule II controlled substances from deducting expenses on their federal taxes.  Because marijuana is still federally recognized as a Schedule I substance under the Controlled Substances Act, state-legal cannabis businesses that operate in…