Cannabis Business

Federal Border Patrol Seizing Legal Cannabis Shipments in New Mexico, Sparking Concerns

Federal Border Patrol Seizing Legal Cannabis Shipments in New Mexico, Sparking Concerns

Federal Customs and Border Patrol (CBP) agents are reportedly seizing legal cannabis products in New Mexico during shipments from the southern to northern parts of the state, according to KFOX14/CBS4. The seizures, occurring for months, are deemed legal under federal law by CBP, despite cannabis being legalized in some U.S. states and Canada. CBP stated, […]

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Ohio's Adult-Use Cannabis Market Poised for Mid-June Launch as Regulations Progress

Ohio’s Adult-Use Cannabis Market Poised for Mid-June Launch as Regulations Progress

Ohio’s journey towards launching its adult-use cannabis market received a significant boost this week as lawmakers advanced proposed regulations in the Joint Committee on Agency Rule Review, according to a report by the Associated Press. Following last year’s voter-approved cannabis legalization proposal, which came into effect in December, adults aged 21 and older were granted

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ABA Urges Passage of SAFER Banking Act Despite Potential Cannabis Rescheduling

ABA Urges Passage of SAFER Banking Act Despite Potential Cannabis Rescheduling

In response to reports of the federal government’s potential reclassification of cannabis as a Schedule III drug, the American Bankers Association (ABA) emphasizes the ongoing need for Congress to pass the SAFER Banking Act. This legislation would provide state-legal cannabis companies access to traditional financial services, addressing the legal complexities surrounding cannabis banking. The ABA

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New Polling Data Shows Strong Public Support for Cannabis Banking Reform

New Polling Data Shows Strong Public Support for Cannabis Banking Reform

Recent polling conducted by the Independent Community Bankers of America (ICBA) suggests a majority of Americans are in favor of granting cannabis companies access to traditional banking services, citing potential benefits to public safety and underserved communities. According to the data released ahead of the 2024 ICBA Capital Summit in Washington, D.C.: 64% of Americans

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Marijuana Companies Donate Nearly $15 Million to Florida Legalization Campaign

Marijuana Companies Donate Nearly $15 Million to Florida Legalization Campaign

Multiple marijuana companies have collectively donated close to $15 million to a campaign supporting a cannabis legalization initiative set to appear on Florida’s November ballot. The contributions were disclosed in the first quarter financial filings released by the Florida Division of Elections on Thursday. Trulieve, the primary financial supporter of the initiative, contributed $9.225 million

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Nebraska Hemp and CBD Tax Reduced to 25% Amid Legislative Negotiations

Nebraska Hemp and CBD Tax Reduced to 25% Amid Legislative Negotiations

An amendment to a Nebraska tax bill has led to a significant reduction in the proposed tax on hemp and CBD, which was initially set at a staggering 100 percent. The new rate now stands at 25 percent, marking a substantial decrease but still significantly higher than sales tax rates imposed by most states on

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Outdated Marijuana Policies Drive Truckers Away, Causing Supply Chain Shortages \

Outdated Marijuana Policies Drive Truckers Away, Causing Supply Chain Shortages

As the legal landscape around cannabis continues to evolve, outdated federal policies are causing significant disruptions in the commercial trucking industry. Tens of thousands of truckers are leaving their jobs due to antiquated marijuana testing regulations, leading to supply chain shortages and increased prices for essential goods. At issue are federal regulations adopted in 1988

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Attorneys General Call for Hemp Reform Amid Concerns Over Potent Products

Attorneys General Call for Hemp Reform Amid Concerns Over Potent Products

In a letter to members of Congress, 22 attorneys general called for “much-needed improvements” on provisions of the 2018 Farm Bill related to hemp, which they say “unleashed…a flood of products that are nothing less than a more potent form of cannabis.” The products, the AGs claim, are “often in candy form that is made

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CBP Seizes $300K Worth of Cannabis from New Mexico Operators

CBP Seizes $300K Worth of Cannabis from New Mexico Operators

In recent weeks, Federal Customs and Border Protection (CBP) agents have made significant seizures of cannabis products from state-licensed operators in New Mexico, totaling over $300,000 in value, as reported by KRQE. These seizures occurred during routine CBP checkpoints situated in the southern region of the state, near the U.S.-Mexico border. Nick Spoor, the Operations

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Pennsylvania's Potential Forecasting $1 Billion in Tax Revenue from Adult-Use Cannabis Sales

Pennsylvania’s Potential Forecasting $1 Billion in Tax Revenue from Adult-Use Cannabis Sales

Adult-use cannabis sales in Pennsylvania could bring in more than $1 billion in tax revenues to the state over the five years following the rollout of sales, according to a report released last month by the Independent Fiscal Office (IFO). The study suggests that were cannabis legalized for adult use this year, it could generate

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