Cannabis Business

Missouri Governor Mike Parson has signed a bill aimed at increasing access to banking services for cannabis companies and implementing fingerprinting and background checks for industry employees and contractors. The law allows for sharing information between the Department of Health and Senior Services and banks, while mandating comprehensive background checks for all individuals working in […]

Maryland recently made significant progress in its cannabis market as it witnessed robust sales during the first week of retail rollout. According to CBS News, combined medical and adult-use cannabis sales in the state amounted to an impressive $20.9 million. The split between adult-use and medical sales was nearly equal, although medical cannabis sales slightly

Jersey Hemp, the sole licensed hemp farm in the British Isles, has been compelled to cease operations after the United Kingdom Home Office declared its products illegal. The closure has resulted in significant job losses and suspended sales and cultivation activities. The UK government’s decision came after the discovery of THC, a controlled cannabinoid, in

California cannabis distributor Herbl has announced the closure of its operations and entry into receivership, dealing a significant blow to the state’s cannabis industry. As one of the largest licensed distributors in California, Herbl played a crucial role in the mandatory distributor model, through which all cannabis brands were required to sell their products. Herbl’s

The New York Cannabis Control Board (CCB) has taken a significant step forward by voting to settle a lawsuit that has caused a delay in the issuance of cannabis licenses for several regions. The lawsuit, brought by Variscite NY One, has impacted the awarding of licenses to social equity applicants in five regions for the

The recent budget bill passed in Illinois carries significant implications for the state’s cannabis industry. According to a report from Tenth Amendment Center, the bill includes provisions that eliminate the state’s conformity with IRS Code 280E, allowing licensed cannabis businesses to claim normal business deductions. This move is expected to provide much-needed relief to canna-businesses

The U.S. Drug Enforcement Administration (DEA) has recently shown indications of classifying synthetically-derived cannabinoids, including delta-8 THC, as controlled substances under federal law. This development, as outlined in a DEA conference presentation dated May 4, has significant implications for the cannabis industry and consumers alike. According to the DEA’s response to a control status inquiry,

California’s cannabis industry has been a significant contributor to the state’s economy, but recent data from the California Department of Tax and Fee Administration has revealed a decline in cannabis tax revenues during the first quarter of 2023. According to the data, the state collected over $216 million in cannabis taxes during this period, down

California’s cannabis industry is facing severe credit issues that threaten its stability, with unpaid invoices and outstanding debts posing significant challenges to operators of all types across the state. In response, a coalition of cannabis industry players has formed the Financial Stability for California Cannabis (FSCC) to raise awareness and offer solutions to the crisis.

In a recent development, the Florida House has successfully passed a comprehensive hemp bill that introduces an age limit of 21 for hemp products containing THC. However, notably, the approved version of the bill does not include the previously proposed THC caps that were part of the initial draft. The bill, which had already gained