Gaelan Bloomfield and Ram Venkay, partners in a new investment fund that will be managed from Australia and will focus on Calif.-based cannabis investment opportunities, are notably wary about the prospects at home, Down Under.
In 2016, Californians ordered marijuana on the Eaze platform once every 30 seconds, according to the “Eaze Insights: 2016 State of Cannabis Data Report.” That doubled 2015’s rate of an order once every minute. Eaze, an online platform for marijuana deliveries, drew its report from 250,000 platform users and a supplemental survey of 5,000 state residents.
On Feb. 6, 2017, the first clinical trial to study the effects of medical marijuana in the treatment of post-traumatic stress disorder in military veterans dispensed medical marijuana to its first veteran at the Scottsdale Research Institute in Phoenix.
On Feb. 7, 2017, Health Canada announced that it is going to start random testing of medical marijuana produced by all of the country’s licensed producers in an attempt to ensure patients aren’t being exposed to contaminated products.
With the spread of legalization across America, jurisdictions with legal marijuana are learning the importance of cultivating marijuana with safe agricultural practices.
Next week, the Louisiana State University Agricultural Center, one of the state’s two state-sanctioned medical cannabis cultivators, will start accepting applications from contractors interested in cultivating cannabis on behalf of the LSU AgCenter for the state’s medical cannabis program.
With its Humboldt Institute for Interdisciplinary Marijuana Research, Humboldt State University in California has been at the academic forefront of marijuana since 2012, but other institutions of higher education in the state are starting to follow suit.
On Feb. 1, 2017, the Hawaii State Department of Health announced that Aloha Green Holdings and Maui Grown Therapies have been approved to commence their cannabis cultivation operations, making them the first two dispensaries in the state to receive such approval.
While several municipalities in California have enacted temporary bans on recreational marijuana and others have yet to decide the fate of the state’s newly legalized industry, America’s Finest City has just become the first city in San Diego County to approve recreational marijuana sales.
On Jan. 27, 2017, the Ohio Board of Pharmacy and the Ohio Department of Commerce announced another round of proposed rules for the state’s medical marijuana program. In this round, regulators tackled rules for medical marijuana processors, patients and caregivers.
On Jan. 10, 2017, Health Canada authorized James E. Wagner Cultivation in Ontario to start cultivating medical cannabis, making it the 38th licensed producer in Canada and the first producer of 2017 licensed under the Access to Cannabis for Medical Purposes Regulations.
On Jan. 26, 2017, Queensland Health announced the release of initial medical cannabis guidelines for medical practitioners in Queensland, Australia.
More Arizonans are using medical marijuana than ever before. This is according to a year-end report on the state’s medical marijuana program, which was released on Jan. 24, 2017, by the Arizona Department of Health Services.
On Jan. 20, 2017, the Oregon Department of Revenue announced that as of Dec. 31, 2016, it had collected $60.2 million in marijuana tax revenue, surpassing the $43 million forecast by state economists earlier this year.
On Jan. 19, 2017, the German Bundestag, the national parliament of the Federal Republic of Germany, adopted a law to legalize medical cannabis, according to a statement from the Bundestag.
North Americans spent $53.3 billion on legal, illegal, and medical marijuana in 2016, according to a Jan. 17, 2017, release from Arcview Research Group. That’s more than people in the United States spent on McDonald’s and Starbucks combined.
While some cannabis businesses have borrowed plays from the winery playbook, the wine industry is starting to look for new opportunities in legal cannabis.
After hitting sales of $1.2 billion in 2016, Washington state’s recreational marijuana sales are projected to top $2 billion by 2020, according to a recent report from Arcview Market Research and New Frontier.
Nothing evokes passionate debate in the cannabis community like the threat of big business taking over. The arguments against big marijuana fill the internet. The heartfelt plea to preserve small farms is echoed throughout the US, Canada, and Jamaica. At the Marijuana Business Conference in Las Vegas last November there was even a debate dedicated to arguing which was better: Craft Cannabis vs Big Marijuana.
With 13 Medical Cannabis Cups to his name, Kyle Kushman is a prolific cultivator. Strains and genetics are his passion and the host of The Grow Show podcast and High Times columnist loves to share his knowledge.
On Jan. 11, 2017, Vireo Health of New York, one of five medical marijuana companies licensed by the state of New York, announced that the New York State Department of Health has approved its medical marijuana delivery program, making it the first company in the state to receive such approval.
On Jan. 10, 2017, a bipartisan group of South Carolina lawmakers, led by Sen. Tom Davis, introduced a bill to the state Senate to legalize the cultivation, sale and consumption of medical marijuana for patients suffering from certain debilitating medical conditions.
On Jan. 9, 2017, MedMen, a turnkey marijuana management company based in California, acquired Bloomfield Industries, one of New York’s five organizations licensed to grow and distribute medical marijuana
On Jan. 6, 2017, CB Insights released a report on annual funding activity for private marijuana companies in 2016, as well as activity for the fourth quarter of the year. According to the report, deals made and dollars invested leveled off in 2016.
On Jan. 6, 2017, the Oregon Liquor Control Commission announced that it had recently approved 762 recreational marijuana licenses and 9,041 Marijuana Worker Permits.
The Colorado Marijuana Enforcement Division recently issued its 2016 mid-year report, documenting supply chain data from Jan. 1 to June 30, 2016.
On Jan. 5, 2017, Michigan State University Extension announced that it will be give workshops on Michigan’s new medical marijuana laws to local governments as a means of helping municipalities navigate the updated regulatory landscape.
California’s marijuana crop is its biggest agricultural commodity, outpacing the next five top commodities combined, according to a Dec. 29, 2016, article in the Orange County Register. Marijuana’s estimated value to California was $23.3 billion in 2015, the Register reported, basing its estimate on the number of seized plants.
On Jan. 20, 2017, attendees of Donald Trump’s inauguration in Washington, D.C., may get free joints, or at least a contact high, at the presidential ceremony.
Olympic snowboarder Ross Rebagliati wants to visit the United States to promote Ross’ Gold, his Canadian cannabis brand; however, with Rebagliati having admitted past marijuana use, U.S. Border Agents have used a border policy to prevent him from entering the country.
On Dec. 29, 2016, Terra Tech (OTCQX:TRTC), a marijuana-focused agriculture company, announced that it is opening a Blüm dispensary in Reno, Nevada, the company’s fourth medical marijuana dispensary in the state, on Jan. 2, 2017.
On Dec. 28, 2016, the Colorado Marijuana Enforcement Division issued an industry-wide bulletin, announcing the roll-out of its random testing program for licensed marijuana businesses.
Rhode Island Gov. Gina Raimondo recently estimated that if The Ocean State legalizes recreational marijuana, it could generate between $10 to $15 million in revenue during its first year.
The state of New York allows five companies to dispense medical marijuana to qualified patients, but most hospitals receive federal funds, so they cannot allow patients to use pot medicinally, according to an article in the Times Herald-Record of Middletown, N.Y. While several states have approved marijuana for medical or adult use, it remains illegal under federal law.
On Dec. 22, 2016, Oregon’s Portland City Council voted unanimously to amend its marijuana business regulations, creating a license for marijuana retail couriers.
The marijuana industry is proving to be profitable for landlords, with businesses willing to pay premium rents. Conversely, it is also complex and has many details from a risk management standpoint.
On Dec. 16, 2016, the Montreal police raided six newly opened Cannabis Culture dispensaries, arresting the “Prince of Pot,” Marc Emery, along with nine other individuals.
Can a taxpayer who sells medical marijuana which is subject to the IRC §280E disallowance rules also be engaged in another business not subject to IRC §280E?
On Dec. 15, 2016, the Ohio Board of Pharmacy and the Ohio State Medical Board released draft rules for the state’s medical marijuana system.
On Dec. 14, 2016, the United States Drug Enforcement Administration announced a new rule that makes hemp-based cannabidiol a federally illegal substance. Under the new rules, liquid extracts derived from plants of the cannabis genus that contain one or more cannabinoids are now considered a schedule I substance.
On Dec. 13, 2016, the Mexican Senate voted overwhelmingly to pass a bill that would legalize medical marijuana in the country. Approved by a margin of 98-7, the bill is part of a larger proposal submitted by President Enrique Peña Nieto to Congress.
On Dec. 13, 2016, the Sonoma County Board of Supervisors rejected a proposal to permit small-scale cannabis cultivation in rural residential zones.
On Dec. 13, 2016, the Colorado Department of Public Health and Environment announced $2.35 million in grants to researchers who can help the state better understand the impacts of marijuana. Most of the grant money—$1.68 million—will go to two studies on marijuana use and driving.
Colorado’s retail sales of marijuana have so far exceeded $1 billion this year. According to a new report from The Cannabist, the state sold approximately $1.1 billion worth of marijuana within the first 10 months of 2016, surpassing the yearly total of $996,184,788 in 2015.
Two U.S. congressmen have established a bipartisan Cannabis Caucus, set to meet next year, according to KIVI-TV’s website. U.S. Rep. Dana Rohrabacher, R-Calif., and U.S. Rep. Earl Blumenauer, D-Ore., founded the caucus in hopes of reforming federal marijuana laws. Rohrabacher said he wants to make states’ rights central to his efforts.
On Dec. 8, 2016, Assistant Professor Paul Seaborn of University of Denver’s Daniels College of Business released the Colorado Marijuana Market Report, an analysis of the Colorado Marijuana Enforcement Division’s raw license data that found Colorado had a record-high of 2,913 active marijuana business licenses as of Dec. 1.
On Dec. 8, 2016, Vermont Gov. Peter Shumlin announced that Vermonters convicted of marijuana possession of up to one ounce can apply to have their convictions pardoned.
On Dec. 5, 2016, the Toronto Board of Health passed a motion to recommend that Canada’s federal government approve pharmacies to dispense medical marijuana.
On Dec. 2, 2016, Canadian Prime Minister Justin Trudeau reminded Canadians that brick-and-mortar medical marijuana dispensaries are still illegal and should be prosecuted.
Medical marijuana patients in California are getting a tax break, and that could mean less money for the state’s coffers. The Board of Equalization recently notified users they do not have to pay sales tax on medical pot if they have both a recommendation from a doctor and the appropriate identification card.