WeedLife News Network

Industry insiders believe Democrat-held Congress would likely take up the SAFE Banking and MORE Acts, generating long-term market effects.

Despite ongoing attempts by the Trump Administration to delay the transition, President-elect Joe Biden and Vice President-elect Kamala Harris are expected to take power on January 20, 2021, creating an impact on the cannabis stock market that could be substantial. 

Will Rhode Island be the next state to legalize cannabis?

Many liberal, New England states have turned to recreational or medical cannabis to bring in some extra revenue, and now, in light of the budget deficit in the state, Rhode Island is talking about legalization as well.  

Currently, the state is projecting a possible $114.4 million deficit in the state’s economy, and analysts are getting worried. In response to that, a Senate Finance Committee in the state is considering Democrat Gina Raimondo’s proposal to allow the sale of cannabis legally within state borders. 

In over 16 years in the NBA, Al Harrington played in more than 1,000 total games, made an appearance in 55 playoff matches, and scored over 13,000 points.

However, just by speaking to him, you’d be convinced that he wants to be known more for his success as a cannabis entrepreneur than his time on the court.

In 2011, while the former first round pick was still playing for the Denver Nuggets, Harrington launched Viola Brands, a cannabis company with a focus on social equity, named after his grandmother.

The move showed tremendous foresight by the former player, especially considering the widespread cannabis boom the city would see just a few years later.

But, distributors could be faced with an even bigger issue.

There's no definite timeline for when medical dispensaries will be able to make the transition, but when they do, they may not be able to meet the high demand for cannabis.

Spencer Andrews is a public affair director for March and Ash, a dispensary in Imperial County. He addresses an important matter that happened when California made the switch.

"What we saw in California was a shortage in the supply chain. I mean, you're just working with many aspects of the supply chain: manufacturing, cultivation, testing, distribution," Andrews explained. "All of these ancillary services have to get up and running and be able to meet the demand."

All of these steps take time.

As consumers increasingly shift to online ordering, click-and-collect, curbside pickup, and delivery, dispensaries must begin leveraging digital advertising options to drive online orders, keep their brands top-of-mind, and increase total sales revenue.

The Alabama Department of Agriculture and Industries (ADAI) wants to remind eligible hemp growers and processors/handlers the deadline to apply for a hemp license for the 2021 crop is November 30, 2020 by 5:00 pm (CST). ADAI will accept hemp applications using their new online application system: agi.alabama.gov/hempapp.

Montana made recreational cannabis legal this past election, and now, they’ve begun the process of licensing, already looking ahead to the future of the recreational industry. 

If Virginia legalizes marijuana, sales could generate up to $300 million in annual state tax revenue and create 11,000 jobs, according to a Joint Legislative Audit & Review Commission (JLARC) report issued Monday. But legalizing the drug would not be without hurdles.

A small farm in upstate New York is working to revolutionize the organic farming industry, starting with supporting their local ecosystem while growing, among a variety of grains, hemp — the plant behind the multi-million dollar CBD industry.

Hemp, a species of cannabis that does not create a marijuana-like high, has an ancient history with usage dating back centuries.

Ben Banks-Dobson, who runs Stone House Farm's 2,600-acre operation, is hoping to help the Earth while promoting the unique plant and its variety of uses.

"Hudson Hemp was born out of a transition from conventional to organic farming," he told CBS News' Michelle Miller. "Our corn and soybeans only goes into chicken and hog feed for local farms selling their meat locally."

Denver hasn't adopted a new state law allowing marijuana industry billboards in Colorado, but that could change soon.

State laws implemented in January let marijuana companies advertise outdoors using billboards, but as with many new pot freedoms, local jurisdictions have to opt in first. And so far, Denver hasn't.

Colorado’s current marijuana advertising laws, created by the State Licensing Authority, follow voluntary advertising restrictions similar to those used by the alcohol industry to prevent the sale or diversion of marijuana to minors. However, the plant's federal status led to a more restrictive advertising landscape for pot than for alcohol.

In states across America where cannabis is legal, dispensaries and pot boutiques have been deemed essential during the COVID-19 pandemic.

It’s a decision that may have baffled those who don’t partake but it made perfect sense, from a public health perspective.

Starting a cannabis business in the US takes a lot of planning, effort, and patience.

However, it’s doable if you choose the best US state for such a business.

According to some of the most recent statistics, the cannabis industry is among the fastest-growing industries globally.

Therefore, it’s a perfect time to start this type of business.

It wasn't long Wednesday morning before Don Lantis had fielded three phone calls from people wanting to go into the marijuana dispensary business with him.

Lantis, the grand old man of fireworks in North Sioux City, is personally not fond of marijuana and has never used it. (He prefaced this several times by noting, "I'm 79 years old.") But it's impossible to deny the moneymaking potential of marijuana in North Sioux City, the same sort of opportunity that compelled his father to open Lantis Fireworks in the border town 75 years ago.

"There was money to be made there," Lantis said of his father's long-ago decision to sell fireworks directly across the border from Iowa where they were illegal.

Despite all the uncertainty surrounding the U.S. election, there’s a clear victor already: domestic cannabis companies.

Leaders across the industry cheered after marijuana measures passed in all five states that had them on the ballot Tuesday -- even in deeply red parts of the country. The results buoyed the biggest U.S.-based players in the market.

“Cannabis won, and won big,” said Boris Jordan, chairman of Curaleaf Holdings Inc., one of the largest cannabis companies. “It’s a green landslide.”

California's most iconic cannabis cultivation zones and its local outdoor growers recently received a boost to their business when Gov. Gavin Newsom signed SB 67 into law on Sept. 30.

The regulation amends Section 26063 of the Business and Professions Code while enacting a new terroir-based appellation for origin-specific products and its use of the environment during the plant's growth.

Any use of artificial lights, shelters or any other form of temperature or climate control is prohibited under the rules.

The passage of SB 67 is being heralded as a win for the state's iconic operators across California's fertile grounds, including the Emerald Triangle, by recognizing their claim to the fertile region.

San Francisco’s cannabis industry is expected to hang on to a bit more green next year due to a tax break that is likely to pass next week.

Supervisor Rafael Mandelman has proposed the one-year tax reprieve, delaying the implementation of the cannabis tax approved by voters in November 2018.

The estimated tax break and revenue loss to The City is $7.1 million, according to the budget analyst.

The Oregon secondary market for cannabis licenses and businesses remains lively. We have been helping industry buy and sell these businesses since 2016. This post is mostly about pricing for retail plays, which is still an evolving standard, but a standard nonetheless.

First, some context.