Category Archives: United States

Maryland’s medical cannabis sales hit $96 million in first year

Maryland’s medical marijuana industry brought in $96.3 million during its first year of operation. MMJ sales began in December 2017, and there are currently nearly 52,000 patients, according to The Baltimore Sun. The newspaper also reported between 250 and 350 people a day are applying to become certified by the state to buy medical cannabis. […]

Michigan approves 24 more medical marijuana licenses

Michigan regulators approved 24 more medical cannabis operating licenses under a new regulatory framework, according to an email sent by state regulators to the media. That now brings the statewide total of licenses issued to 91. In late November, regulators said they wouldn’t force existing, unlicensed medical marijuana businesses to close before Dec. 31. Here’s the […]

Hemp legalization clears House, off to president for final approval

Hemp legalization awaits the pen of President Donald Trump after the U.S. House on Wednesday followed the Senate and approved a 2018 Farm Bill that removes hemp from the U.S. Controlled Substances Act. The House voted 369-47 to agree to a Farm Bill compromise that includes redefining cannabis plants with no more than 0.3% THC. […]

Marijuana firm Cresco Labs posts $3.9 million net income in third quarter

Chicago-based Cresco Labs posted $3.9 million in net income in its fiscal third quarter, reversing its year-ago loss of $200,000. The multistate cannabis operator saw revenues spike 335% in the quarter to $12.2 million compared to the same period in 2017. Year-to-date revenue was up nearly 250% to $25.1 million. Since the beginning of the year, […]

California regulators OK statewide marijuana delivery in draft of final rules

In the final drafts of California’s cannabis business regulations, regulators approved statewide cannabis deliveries, even in areas that ban cannabis. The rules will not be completely finalized until approved by the Office of Administrative Law (OAL), which may not be until sometime in January. Many believe statewide delivery – one of the most debated issues involving […]

Nevada high court dismisses liquor firms’ adult-use marijuana distribution suit

The Nevada Supreme Court dismissed a lawsuit that would have required the state to license only alcohol wholesalers as distributors of recreational marijuana. The decision doesn’t have an immediate effect, but “when we decide to open up more (distributor) applications, it will allow us to select from a broader range of applicants,” said Stephanie Klapstein, […]

Pennsylvania may expand medical cannabis qualifying conditions list

It may soon become easier for more patients to purchase medical cannabis in Pennsylvania, a development that could boost dispensary sales. The state’s Medical Marijuana Advisory Board approved a new process for adding medical ailments to the list of treatable conditions, the Tribune-Review reported. In coming weeks regulators will start accepting petitions for new conditions […]

Adult-use cannabis legal in MI as of today; commercial market not likely until 2020

Michigan on Thursday became the latest state to officially legalize the recreational use of marijuana, but it’s initially only for adult possession and use – not commercial sales. The start of what is expected to be billion-dollar-plus commercial industry is still more than a year away, but businesses are positioning themselves in anticipation. Matt Miner, […]

280E still applies to marijuana companies, US Tax Court rules

The U.S. Tax Court ruled on a 2½-year-old case in which California-based Harborside had hoped to end 280E’s hold over the marijuana industry’s profit margins. But the Oakland company’s hopes were dashed Friday when the court upheld the tax code. “280E continues to negatively impact the growth of the legal cannabis industry, the jobs that […]

Massachusetts recreational marijuana stores bring in $2.6M in second week of sales

The newly launched adult-use cannabis market in Massachusetts hit $2.6 million in sales during the second week of sales, according to figures released by the state’s Cannabis Control Commission. Data also shows that since Massachusetts’ recreational marijuana market launched Nov. 20, there have been just over $4.8 million in sales at the two stores that […]