Florida medical cannabis bills make for hazy business climate

/in , , , , , , /by

Medical marijuana isn’t shaping up to be the big business opportunity in Florida many cannabis executives were hoping for.

Although medical marijuana was approved overwhelmingly by Florida voters in November, the shape of the MMJ industry is still very much in question. And state lawmakers don’t appear to be moving toward any kind of solution.


Spring 2017 MJBizConA whopping six bills are competing in the Florida Legislature, the Sun Sentinel reported, and each would set up a regulatory framework for…

CONTINUE READING: Click Here to Continue Reading Article …

Washington state vows to fight any cannabis crackdown by feds

/in , , , , , , /by

Washington state is ready to fight if necessary to keep its legal marijuana, Attorney General Bob Ferguson said after White House spokesman Sean Spicer hinted at a federal crackdown.

“We will resist any efforts to thwart the will of the voters in Washington,” Ferguson said, according to the Associated Press.

Spicer offered no details about what any renewed federal efforts in legal-cannabis states might entail but said he expected “greater enforcement” and drew a distinction between marijuana use for medical and recreational purposes.


Spring 2017 MJBizConCONTINUE READING: Click Here to Continue Reading Article …

White House press secretary’s full comments on cannabis

/in , , , , , , , /by

Asked twice by reporters on Thursday about the Trump administration’s approach to the legal marijuana industry, White House Press Secretary Sean Spicer had the following response.

When initially asked about the disconnect between federal law and state medical marijuana laws, Spicer replied:

“There’s two distinct issues here: medical marijuana and recreational marijuana. I think, medical marijuana, I’ve said before, that the president understands the pain and suffering that many people go through who are facing, especially terminal…

CONTINUE READING: Click Here to Continue Reading Article …

Wall Street takes notice of marijuana: Q&A with cannabis analyst Vivien Azer

/in , , , , , , /by

By Omar Sacirbey

Vivien Azer, apparently the first cannabis analyst at a mainstream investment bank, is bullish on the marijuana industry.

And her confidence in the market is a significant reflection of how Wall Street views cannabis. Azer is an analyst at Cowen and Co., a New York investment bank founded in 1918.

Her belief in the marijuana industry was reinforced last month when 150-plus investors – including representatives from such prestigious financial institutions as Blackstone Group, Fidelity Investments and Janus Capital Group –…

CONTINUE READING: Click Here to Continue Reading Article …

U.S. Senate confirms cannabis critic Jeff Sessions as AG

/in , , , , , /by

The Senate on Wednesday evening confirmed President Trump’s nominee for attorney general, the outspoken marijuana opponent Jeff Sessions, formerly a U.S. senator from Alabama.

Sessions was confirmed in a 52-47 vote, with only one Democrat in the chamber backing the Republican.

When Trump named Sessions as his pick for attorney general last November, plenty of cannabis industry insiders were alarmed and feared that Sessions could spearhead a new federal crackdown on marijuana businesses.

But on Wednesday two of the more prominent national…

CONTINUE READING: Click Here to Continue Reading Article …

North Dakota governor inks bill delaying medical cannabis rollout

/in , , , , , , /by

North Dakota Gov. Doug Burgum signed legislation on Thursday that will delay the rollout of the state’s medical marijuana program by several months, to give lawmakers and regulators more time to iron out the details.


Trump ReportThe law took effect Dec. 8, 2016. But lawmakers pushed back that date, which is when state health regulators must begin implementing the program by drafting regulations governing areas such as licensing and enrolling patients.

Under Senate Bill 2154, that process is postponed until either July 31 or the start date stipulated…

CONTINUE READING: Click Here to Continue Reading Article …

Week in Review: Connecticut MMJ research bodes well, OH docs hesitant & Maine rec is a go

/in , , , , , , , , , /by
weeklywrapupimage

By Omar Sacirbey and Bart Schaneman

Connecticut research could benefit the entire medical cannabis industry, a survey shows most Ohio physicians won’t write MMJ recommendations, and Maine’s adult-use program is a go after recount is halted.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Marijuana beats opiates

Research announcements this week from two respected Connecticut medical institutions provided a fitting year-end reminder that one of the biggest gains cannabis reform has made over…

CONTINUE READING: Click Here to Continue Reading Article …

New Market: Florida’s big MMJ program could be limited by lack of licenses

/in , , , , , /by
florida-state-flag

This is the fourth article in a series looking at the potential cannabis market in each of the eight states that approved recreational or medical marijuana initiatives in the 2016 election. Check back each week through mid-January for new entries. Click here for previous installments.

By Bart Schaneman

Florida’s new medical marijuana market is poised to become one of the largest in the nation, yet a limited number of available MMJ business licenses could hinder the program’s growth.

Seventy-one percent of Florida voters last month…

CONTINUE READING: Click Here to Continue Reading Article …

Maine cannabis legalization a go after foes drop recount effort

/in , , , , , , , /by

Maine officially became the latest state, and the second in New England, to legalize adult-use cannabis after opponents formally abandoned their demand for a recount.

The No on 1 campaign, as the anti-legalization effort was called, notified Maine’s secretary of state of the decision on Saturday, the Portland Press Herald reported.


Marijuana Business License DirectoryMaine voters approved legalization 381,692 to 377,619 on Nov. 8, a margin of 4,073, according to unofficial election-day results.

Gov. Paul LePage, a legalization opponent, must now certify the results, and…

CONTINUE READING: Click Here to Continue Reading Article …

Chart: The Trump effect – Some marijuana companies shifting 2017 growth plans, but most staying the course

/in , , , , , , /by
Chart: The Trump effect – Some marijuana companies shifting 2017 growth plans, but most staying the course – Marijuana Business DailyChart: The Trump effect – Some marijuana companies shifting 2017 growth plans, but most staying the course – Marijuana Business Daily

CONTINUE READING: Click Here to Continue Reading Article …

Maine suspends marijuana ballot recount until new year

/in , , , , , /by

The ballot recount of Maine’s initiative to legalize recreational marijuana is on hold until 2017 to give legalization opponents time to mull whether they want to continue the tally.

With about 30% of the ballots counted, there was no significant change in the outcome of the Nov. 8 vote in favor of legalization, according to the Portland Press Herald.


Marijuana Business License DirectoryLegalization would have gone into effect in the first week of January. But it will be delayed until either the opponents who demanded the recount throw in the towel or some 700,000 ballots…

CONTINUE READING: Click Here to Continue Reading Article …

Week in Review: Canada’s cannabis guidelines, Ohio’s dispensary rules & MJ’s big week in DC

/in , , , , , , , , , /by
weeklywrapupimage

By Bart Schaneman and Omar Sacirbey

A task force makes recommendations on how the Canadian government should approach legalizing recreational marijuana, Ohio writes draft rules for MMJ dispensaries, and cannabis has a big week in Washington DC.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Small or big? 

Will Canada’s new adult-use marijuana market be open to small businesses – or dominated by big corporations?

Jodie Emery, a political activist and owner of Cannabis Culture, a magazine…

CONTINUE READING: Click Here to Continue Reading Article …

New Market: Smooth rollout expected for Arkansas MMJ industry

/in , , , , , /by
Arkansas state flag

This is the second article in a series looking at the potential cannabis market in each of the eight states that approved recreational or medical marijuana initiatives in the 2016 election. Check back each week through mid-January for new entries. Click here for previous installments. 

By Bart Schaneman

The Arkansas medical marijuana industry is expected to experience a smooth launch and will likely serve a small, but not tiny, market.

After a previous legalization measure failed narrowly in 2012, voters in the Bible Belt state passed an…

CONTINUE READING: Click Here to Continue Reading Article …

CA treasurer forms group to address federal banking rules

/in , , , , , /by

California’s state treasurer has assembled a group to address the problems caused by banks’ refusal to deal with marijuana businesses, following up on his state’s legalization of recreational cannabis in the Nov. 8 election.

State Treasurer John Chiang also sent a letter to President-elect Donald Trump and included members of California’s congressional delegation asking for help to fix the problem, according to the Los Angeles Times.


Marijuana Business License DirectoryIn the letter, Chiang pointed out that the divide between federal and state rules causes issues for…

CONTINUE READING: Click Here to Continue Reading Article …

Week in Review: Lift for New York market, anti-MJ Trump choice & Canada rec development

/in , , , , , , /by
weeklywrapupimage

By Omar Sacirbey, John Schroyer and Bart Schaneman

New York’s lagging medical cannabis trade receives some good news, Donald Trump picks another marijuana critic for his cabinet, and Canada considers giving MMJ companies a leg up in the recreational market.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Conditional love

Medical marijuana businesses in New York, one of the most restrictive MMJ markets in the country, likely will receive a much-needed boost now that regulators have added…

CONTINUE READING: Click Here to Continue Reading Article …

Trump makes second anti-cannabis cabinet pick

/in , , , , /by

President-elect Donald Trump has made a second anti-marijuana appointment to his cabinet, selecting Rep. Tom Price from Georgia to serve as Health and Human Services secretary.

At the federal level, the HHS doesn’t regulate marijuana. That’s left to the Justice Department, but the HHS secretary can control the availability of cannabis in states that have legalized adult-use or medical marijuana, according to the Washington Post.

The newspaper noted the department could penalize physicians or sue sellers who work with MMJ in states where…

CONTINUE READING: Click Here to Continue Reading Article …

New Market: Humble beginnings expected for North Dakota’s medical marijuana industry

/in , , , , , /by
North Dakota state flag

This is the first in a series looking at the potential cannabis market in each of the eight states that approved recreational or medical marijuana initiatives in the 2016 election. Check back each week through mid-January for new entries. 

By Bart Schaneman

North Dakota’s new medical marijuana market – made possible by the Nov. 8 election – is expected to be one of the smallest in the nation, with annual dispensary sales eventually reaching $10 million-$20 million, according to Marijuana Business Daily estimates.

Chalk up the sales…

CONTINUE READING: Click Here to Continue Reading Article …

Week in Review: 5 business takeaways from the landmark election

/in , , , , , , , , , , , /by
weeklywrapupimage

By Omar Sacirbey and Bart Schaneman

Now that voters in seven additional states have legalized recreational or medical marijuana, business leaders and political observers are bullish about the potential for industry growth.

They point to greater opportunities through interstate expansion, increased investor interest in cannabis and greater innovation in technology and business strategies.

“People should feel good about these victories and the opportunities that legalization brings,” said Kris Krane, managing partner of 4Front Advisors, a…

CONTINUE READING: Click Here to Continue Reading Article …

Denver’s public-use MJ initiative poised to pass by narrow margin

/in , , , , , /by

Denver’s vote to allow cannabis consumption in public businesses, including bars and restaurants, appears poised for passage, overcoming initial predictions that the initiative faced an uphill battle.

As of 4 p.m. Eastern Time Thursday, Initiative 300 had received 51% of the approximately 223,000 votes that had been counted. A representative of the Denver County Clerk’s office said the the vote tally was still being finalized, and the election results won’t be certified until later this month, on Nov. 22.


Conference Deadline ApproachingThe yes vote would make the…

CONTINUE READING: Click Here to Continue Reading Article …

Colorado county’s vote to maintain recreational marijuana industry stalls anti-MJ efforts

/in , , , , , , , /by
16743675 - close-up map of pueblo, colorado

By Bart Schaneman

This week’s defeat by voters of a proposed ban on recreational marijuana businesses in Pueblo County, Colorado, forestalled a possible domino effect that could have unleashed major fallout for the state’s cannabis industry.

The lopsided vote also represents a strong show of support for recreational cannabis businesses four years after Colorado legalized adult-use marijauna, indicating that many residents feel the benefits of the industry outweigh any negatives.

Pueblo’s cannabis industry, located in southern Colorado,…

CONTINUE READING: Click Here to Continue Reading Article …

Arkansas health department to oversee new MMJ industry

/in , , , , , /by

The day after Arkansas voters approved legalized medical marijuana, the state’s Department of Health unveiled plans for how it will set up the necessary infrastructure to launch the new MMJ industry and regulate it once businesses are up and running.


Conference Deadline ApproachingThe Department of Health said it will take several months to establish a regulatory system that ultimately will oversee labeling and testing, develop a conditions list, and monitor a library for dispensaries to verify how much cannabis is doled out to cardholders, television station KFSM…

CONTINUE READING: Click Here to Continue Reading Article …

15 Oregon towns vote to reverse rec cannabis bans; new taxes set

/in , , , , , /by

Fifteen Oregon localities have voted to opt back in to allowing recreational marijuana, overturning bans on cannabis sales or MJ businesses, election results show.

According to the Oregonian, voters in 60 communities considered ballot initiatives that basically asked residents to determine whether recreational or medical cannabis should be permitted.

The newspaper said most cities and counties approved bans although some rejected them. In 2014, when Oregon voters legalized recreational cannabis, about 100 towns and counties declined to…

CONTINUE READING: Click Here to Continue Reading Article …

President Trump: Election surprise creates huge uncertainties for cannabis industry

/in , , , , /by
Donald Trump

By Marijuana Business Daily staff

Donald Trump’s upset election victory is causing consternation in the marijuana industry even though seven states legalized medical or recreational cannabis and another paved the way for MMJ businesses.

Executives are uncertain of what a Trump presidency means in terms of federal regulations and enforcement, with some fearing an eventual crackdown.

Still, other industry officials and experts suggested the state-level victories could ultimately lead to some positive marijuana-related steps at the federal…

CONTINUE READING: Click Here to Continue Reading Article …

Colorado’s Pueblo County rejects measure to ban rec marijuana

/in , , , , , /by

Pueblo County, Colorado, voters rejected a ballot initiative that would have shut and banned all recreational marijuana operations in the county, a decision that allows the MJ industry to dodge a development that could have had statewide ramifications.

If Ballot Question 200 had passed, a major marijuana supply source would have dried up, dozens of businesses would have had to close and scores of workers would have lost their jobs.


Conference Deadline ApproachingInstead, the initiative was voted down by 56% of voters, according to results from the county.

Voters in the…

CONTINUE READING: Click Here to Continue Reading Article …

An $8 billion night: 7 states legalize medical, recreational cannabis in historic election

/in , , , , , , , , , , , /by
2016electioncoverage-square_c

By Marijuana Business Daily staff

The cannabis industry scored a landslide victory Tuesday as four states legalized recreational marijuana and another three approved medical use, cementing the 2016 election’s place in the history books.

The developments could lead to $7 billion-$8 billion in additional annual retail cannabis sales, according to Marijuana Business Daily’s preliminary estimates.

California, Maine, Massachusetts and Nevada voted to legalize recreational marijuana, while Arkansas, Florida and North Dakota approved medical…

CONTINUE READING: Click Here to Continue Reading Article …

Election Updates: Live coverage of marijuana measures across the country

/in , , , , , , , , , , , , , /by
2016 cannabis elections

Marijuana Business Daily is providing live updates on cannabis ballot measures and related news (all updates in Eastern time).

2:30 a.m. Wednesday (Arizona, Maine, Montana): Three states with marijuana initiatives still hang in the balance, with Arizona’s rec measure on the ropes, Montana’s initiative well ahead and Maine’s adult-use measure a coin flip.

Here are the latest results from those three states:

Arizona: 48% “Yes,” with 82% of the votes reported

Montana: 56% “Yes,” with 63% of the votes reported

Maine: 50.5% “Yes,”…

CONTINUE READING: Click Here to Continue Reading Article …

Handful of businesses and individuals donate $21M for, against marijuana measures

/in , , , , , /by
top-donations-to-ballot-committees-revised

By Eli McVey and John Schroyer

The nine cannabis-related measures on ballots across the nation have drawn immense attention, most notably in the form of tens of millions of dollars in political contributions.

Campaign finance data shows that 20 businesses and individuals account for a whopping $20.8 million in donations on both sides.

Of that total, $13.7 million has come from 10 individuals and more than $7 million from 10 businesses.

Financial support has come hot and heavy on both sides of the legalization debate.

All told, billionaire Sean…

CONTINUE READING: Click Here to Continue Reading Article …

Marijuana firms across nation fund pro-MMJ bid in Florida

/in , , , , , /by

Out-of-state-donors, including some prominent marijuana businesses, have pumped money into the campaign to legalize medical marijuana in Florida, underscoring the high-stakes fight in that state.

Of the three states – Florida, Arkansas and North Dakota – that could legalize medical marijuana on Tuesday, Florida is by far the largest market and offers out-of-state cannabis businesses potentially lucrative opportunities.

Denver-based social media company MassRoots, Denver edibles firm Allied Concessions Group and Washington State-based…

CONTINUE READING: Click Here to Continue Reading Article …

San Jose latest California city to temporarily ban rec cannabis

/in , , , , , , , /by

San Jose, the third-largest city in California, on Tuesday joined the list of municipalities statewide to slap a temporary ban on adult-use cannabis businesses before Election Day.

San Jose has joined other California cities in imposing temporary bans and controls on recreational marijuana in advance of Tuesday’s election, when California voters will decide whether to legalize rec cannabis.


Conference Deadline ApproachingSan Jose City Council members said they passed the temporary ban to give local officials time to draft marijuana business regulations and to head off…

CONTINUE READING: Click Here to Continue Reading Article …

CA cities pass temporary bans, controls on rec cannabis

/in , , , , , , /by

California cities across the Bay Area and the state are scrambling to impose temporary bans and controls on recreational cannabis ahead of Tuesday’s statewide vote on legalizing adult-use marijuana.

Polls show the state favors legalization. Cities, in response, are taking preemptive moves. San Jose is considering adopting an emergency ordinance to ban the use of non-medical marijuana, a move intended to give local officials time to decide whether and how to regulate adult-use cannabis, according to the Mercury News.


Conference Deadline ApproachingThe law would also…

CONTINUE READING: Click Here to Continue Reading Article …