Cannabis Business

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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Vermont Lawmakers Reject Direct Cannabis Sales Plan, Advance Industry Reforms

Vermont Lawmakers Reject Direct Cannabis Sales Plan, Advance Industry Reforms

Montpelier, VT — Vermont lawmakers have opted not to approve a pilot program that would have allowed licensed cannabis cultivators to sell their products directly to consumers, according to a report from Vermont Public Radio (VPR). The proposal, backed by Lt. Gov. John Rodgers, was met with significant opposition from legislators who expressed concern that

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Federal Judge Strikes Down Oregon Cannabis Labor Agreement Mandate

Federal Judge Strikes Down Oregon Cannabis Labor Agreement Mandate

Portland, OR – A federal judge has struck down Oregon’s voter-approved Measure 119, which required cannabis businesses to remain neutral on unionization efforts as a condition of their licensing. The ruling, issued by U.S. District Judge Michael Simon, declared the measure unconstitutional, citing violations of the First Amendment and federal labor law. The measure, approved

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Massachusetts Launches Cannabis Career Hub for Equity Program Participants

Massachusetts Launches Cannabis Career Hub for Equity Program Participants

Massachusetts has unveiled the EquityWorks Career Hub, an online platform designed to support job seekers, provide workforce training, and foster networking within the state’s regulated industry. Initially available only to individuals enrolled in the Cannabis Control Commission’s (CCC) equity program, the platform will open to the general public starting June 19. “The EquityWorks platform is

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U.S. Retail Sales Hit $30.1 Billion in 2024 as Industry Shifts Toward Efficiency

U.S. Retail Sales Hit $30.1 Billion in 2024 as Industry Shifts Toward Efficiency

Retail sales of regulated products in the U.S. reached $30.1 billion in 2024 — a 4.5% increase over the previous year — according to the third annual Vangst Jobs Report, produced in partnership with Whitney Economics. Despite this sales growth, overall employment within the industry dipped by 3.4%, reflecting a loss of more than 15,000

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Ohio Senate Approves Bill to Restrict Intoxicating Hemp Sales to Licensed Dispensaries

Ohio Senate Approves Bill to Restrict Intoxicating Hemp Sales to Licensed Dispensaries

The Ohio Senate unanimously passed a bill that would significantly restrict where intoxicating hemp products can be sold, requiring that such products be available only through state-licensed adult-use cannabis dispensaries. Currently, these hemp-derived products — which often contain compounds like Delta-8 THC — are sold at CBD shops, convenience stores, smoke shops, and gas stations

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Minnesota to Hold First Adult-Use Cannabis License Lotteries on June 5

Minnesota to Hold First Adult-Use Cannabis License Lotteries on June 5

The Minnesota Office of Cannabis Management (OCM) announced that the state will hold its first adult-use cannabis licensing lotteries on June 5, marking a major step forward in launching the legal market. The upcoming lotteries will include both social equity and general applicants for three core license types: cultivators, manufacturers, and mezzobusinesses. A separate licensing

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Pennsylvania House Gives Initial OK to Cannabis Legalization Bill with State-Run Dispensaries

Pennsylvania House Gives Initial OK to Cannabis Legalization Bill with State-Run Dispensaries

The Pennsylvania House of Representatives took a historic step this week by giving initial approval to an adult-use cannabis legalization bill that proposes a state-run retail model. The bill advanced quickly through the House Health Committee and passed a floor vote a narrow 102-101 decision along party lines. All Democratic lawmakers voted in favor, while

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