Cannabis Business

RAW Rolling Papers Founder Acquires High Times Brand in $3.5M Deal

RAW Rolling Papers Founder Acquires High Times Brand in $3.5M Deal

Josh Kesselman, the founder of RAW Rolling Papers, has co-purchased the iconic High Times brand in a $3.5 million all-cash transaction, marking a bold new chapter for one of the most recognizable names in counterculture media. The deal, completed alongside former High Times co-owner Matt Stang, includes the acquisition of the High Times magazine, the […]

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Oregon Senate Approves Bill Targeting Landowners Linked to Illegal Cannabis Grows

Oregon Senate Approves Bill Targeting Landowners Linked to Illegal Cannabis Grows

The Oregon Senate has passed a bill that would increase penalties for landowners who knowingly allow illegal cannabis cultivation on their property, KPIC reports. The legislation would also eliminate special tax assessments for properties involved in unlicensed cannabis activity. These assessments typically help fund infrastructure projects benefiting the assessed properties. Under the proposed law, landowners

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North Carolina Advances Bill to Ban Synthetic Hemp and Regulate THC Edibles

North Carolina Advances Bill to Ban Synthetic Hemp and Regulate THC Edibles

A new proposal in North Carolina aimed at banning synthetic hemp products and limiting the sale of THC-infused beverages and edibles to adults over 21 is rapidly advancing through the state Senate, WRAL reports. The legislation passed two Senate committees with bipartisan support and is now headed to the Senate Judiciary Committee for further review.

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Maine Credit Union to Cut Off Medical Cannabis Caregiver Accounts by End of July

Maine Credit Union to Cut Off Medical Cannabis Caregiver Accounts by End of July

Maine’s cPort Credit Union is terminating bank accounts held by medical cannabis caregiver storefronts, citing ongoing concerns over regulatory compliance, WMTW reports. The accounts are set to close by July 31. While caregiver storefronts are legal in Maine and permitted to sell cannabis products to patients, they operate under a different regulatory framework than larger

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Delaware Hemp Regulation Bill Pulled Following Pushback from CBD Industry and Advocates

Delaware Hemp Regulation Bill Pulled Following Pushback from CBD Industry and Advocates

A bill in Delaware that aimed to restrict the sale of intoxicating hemp products and limit cannabis-infused beverages to liquor stores has been pulled by its sponsor, State Rep. Debra Heffernan (D), WHYY News reports. The legislation would have required hemp-derived intoxicants to be sold only at state-licensed cannabis dispensaries and allowed cannabis beverages exclusively

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Maryland Hemp Industry Sues State Over Cannabis Licensing, Product Seizures

Maryland Hemp Industry Sues State Over Cannabis Licensing, Product Seizures

A coalition of Maryland hemp businesses, consumers, and industry advocates has filed a federal lawsuit challenging the state’s cannabis licensing system and enforcement of hemp product regulations, The Baltimore Sun reports. The suit, filed by the Maryland Hemp Coalition, 10 hemp business owners, and consumers, claims that Maryland is unlawfully regulating hemp-derived products that are

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Missouri Hemp Leaders Launch Ballot Initiative to Deregulate Cannabis

Missouri Hemp Leaders Launch Ballot Initiative to Deregulate Cannabis

Hemp business owners in Missouri are organizing a new ballot initiative aimed at significantly overhauling cannabis regulations in the state. Spearheaded by Kansas City-based American Shaman and industry lobbyist Eapen Thampy, the proposal seeks to remove cannabis regulation from the state constitution and align oversight more closely with existing alcohol and tobacco laws. “Part of

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Cannabis Substitution Continues to Pressure Alcohol Industry Profits

Cannabis Substitution Continues to Pressure Alcohol Industry Profits

The rising popularity of cannabis as a substitute for alcohol is putting increasing pressure on the spirits industry, according to Brown-Forman Corporation CEO Lawson Whiting, who cited the trend as one of the top three factors behind the company’s 5% decline in net sales. During an earnings call, Whiting noted that generational shifts, weight-loss drugs,

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Kentucky Bans On-Premise THC Beverage Sales as New Law Takes Effect

Kentucky Bans On-Premise THC Beverage Sales as New Law Takes Effect

THC-infused beverages can no longer be sold by the drink in Kentucky, as Senate Bill 202 officially takes effect. The new law now limits sales to liquor stores and online platforms only, creating a major shift in how cannabis-infused beverages reach consumers across the state. The bill, signed into law in March, is already drawing

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California Cannabis Sales See Historic Decline Amid Looming Tax Hike

California Cannabis Sales See Historic Decline Amid Looming Tax Hike

SACRAMENTO, CA — California’s legal cannabis market just took a major hit. Sales in the first quarter of 2024 fell by 11% compared to the same period last year—the steepest year-over-year drop since legalization, according to SFGate. The quarter ended with $1.088 billion in total legal sales, but the decline comes at a time when

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