Following the opening of Canada’s recreational adult-use marijuana market last October, top marijuana stocks could capture billions of dollars in sales as consumers shift their spending from the black market to licensed marijuana retailers. The potential to profit from pot is sparking a green rush of investment that has some marijuana growers already benefiting more […]
marijuana sales
Medical marijuana bill legalizing cultivation and distribution clears Georgia Senate
A bill that would allow the distribution and sale of medical marijuana in Georgia passed the state Senate Friday, a key hurdle in the closing days of the legislative session. House Bill 324 would allow distribution of the drug through up to 28 dispensaries statewide. And it would allow four growing licenses for the state. The […]
After 4 months, medical marijuana sales in Michigan exceed $42 million
Michigan’s medical marijuana market is growing beyond expectations, generating more than $42 million in sales since the first dispensary opened on Nov. 1. In the first month of operation, when only a few licensed dispensaries were open, $7.1 million in pot sales were recorded with the state Department of Licensing and Regulation. That figure grew […]
Pennsylvania medical marijuana sales near $100 million in first year
Pennsylvanians bought almost $100 million worth of medical marijuana in the first year it was available, the Department of Health announced Friday. “The first year that the state’s medical marijuana program has been operational tells us that this program is working to help Pennsylvanians in need of this medication,” Governor Tom Wolf said. “Patients are […]
Colorado marijuana sales crack $6 billion since 2014 legalization, state says
Colorado marijuana businesses have sold more than $6 billion worth of weed and related products since a voter-approved measure allowing adults over the age of 21 to consume recreational pot took effect in the state on Jan. 1, 2014. The milestone figure was highlighted Tuesday in a news release from the Colorado Department of Revenue’s Marijuana Enforcement Division, […]
Massachusetts marijuana: Sales hit $23.8 million in first two months of open retail pot shops
In the first two months of recreational marijuana sales in Massachusetts, pot shops took in nearly $24 million in sales, according to data released by state regulators. The Cannabis Control Commission, the state’s marijuana regulatory agency, released the figures this week. Massachusetts opened the first retail pot shops east of the Mississippi in late November. […]
Cities, towns could opt-out under Andrew Cuomo’s New York marijuana plan
Cities and towns in New York would still be able to ban marijuana sales under Gov. Andrew Cuomo’s soon-to-be-released plan to legalize the drug statewide. Cuomo, a Democrat, is expected to unveil his full recreational marijuana proposal Tuesday as part of his budget plan and State of the State address, which is set for 2 p.m. But […]
California collecting far less than expected in marijuana taxes
Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana excise taxes by the end of June. That’s […]
Marijuana Prices Are Dropping, So Why Aren’t Edible Prices?
Anyone who shopped at dispensaries last year likely noted that marijuana prices were dropping, with flower going as low as $15 an eighth and concentrates like shatter and wax selling for $10 or $12 per gram. So why didn’t edibles get cheaper, too? With wholesale marijuana prices dropping almost 40 percent from the end of 2017 […]
Now for the Hard Part: Getting Californians to Buy Legal Weed
A billion dollars of tax revenue, the taming of the black market, the convenience of retail cannabis stores throughout the state — these were some of the promises made by proponents of marijuana legalization in California. One year after the start of recreational sales, they are still just promises. California’s experiment in legalization is mired […]
80 Michigan communities are blocking recreational marijuana businesses
At least 80 Michigan communities have banned or are moving to ban recreational marijuana retail stores and related businesses. It’s a swift response from local governments in the month and a half since voters chose to legalize marijuana in Michigan. The Michigan Regulation and Taxation of Marihuana Act took effect Dec. 6. Some of those […]
Will California’s Section 5032 Disrupt the Cannabis Market?
By Ian Stewart On December 7, 2018, California’s three cannabis licensing authorities submitted final versions of the state cannabis regulations scheduled to be approved by January 16, 2019. California’s Bureau of Cannabis Control (Bureau) submitted a final version of Section 5032 of the regulations that substantially limits commercial cannabis activity between licensed and unlicensed entities. […]
What is Massachusetts planning to do with all that marijuana tax revenue?
In a recent interview, Boston Mayor Marty Walsh said he hoped the the tax revenue from marijuana in Massachusetts would be worth the “human toll.” Walsh, who opposed the 2016 state ballot measure to legalize the drug for recreational use, later explained that he hoped the money would be devoted toward initiatives that promote public health and safe […]
Medical marijuana in Utah: You can use it, but you can’t buy it
Utah patients can use medical marijuana legally after a compromise agreement was signed into law, but they likely won’t be able to buy it legally until at least 2020, officials said Tuesday. The state will need time to first build up a database to start issuing patients medical-cannabis cards, and then begin granting licenses for […]
Michigan To Become First Midwest State To Allow Recreational Marijuana This Week
Michigan clears a threshold this week as the first state in the Midwest to allow marijuana for more than just medical purposes. In the Nov. 6 election, voters by a wide margin endorsed recreational use by adults who are at least 21. The move comes 10 years after voters approved marijuana to alleviate the effects of […]
Iowa Medical Marijuana Sales Begin Saturday
More Iowans will have an additional option to find relief for their seizures, unbearable pain and other chronic conditions this weekend, marking what some hope is a first step in broader medical marijuana access statewide. Saturday marks the first day products will be made available in Iowa’s expanded cannabidiol program, which is available to Iowans […]
Massachusetts marijuana retail shops’ rollout going ‘mostly according to plan,’ Gov. Charlie Baker says
Massachusetts Gov. Charlie Baker says he’s satisfied with the rollout of the state’s first recreational marijuana retail stores. “I think it’s gone what I would describe, I guess, as mostly according to plan, which is a good thing,” Baker told MassLive. Two stores, Cultivate in Leicester and New England Treatment Access (NETA) in Northampton, opened […]
While marijuana sales begin in Massachusetts, could New York next?
If New York chooses to follow Massachusetts’ lead on recreational marijuana, Tuesday provided a window in to what it might see. Hundreds of people swarmed the New England Treatment Access store on Tuesday morning as Massachusetts became the first state on the East Coast to legalize the sale of recreational marijuana. The store is one […]
