Exclusive: US marijuana sales may reach $10 billion this year, $22 billion by 2022
Eli McVey, John Schroyer and Jenel Stelton-Holtmeier
Retail sales of medical and recreational cannabis in the United States are expected to hit $8 billion-$10 billion this year a nearly 50 percent increase from 2017 and rise as high as $22 billion by 2022.
Thats according to exclusive projections from the 2018 edition of the Marijuana Business Factbook released Wednesday at the start of MJBizConNEXT in New Orleans.
The anticipated explosive industry growth is a backdrop for MJBizConNEXT, which is hosted by Marijuana Business Daily. The industry conference is expected to draw 3,000 marijuana professionals and 280-plus exhi....
Welcome to the latest edition of NORMLs Weekly Legislative Roundup
Lets talk about some new state-level developments. The Maine House of Representatives and Senate overrode Gov. Paul LePages R veto of marijuana legalization implementation legislation this week. The enactment of the legislation establishes a framework for the retail sale of marijuana to adults, but also amends numerous provisions of the 2016 voter-approved measure including those specific to home grow limits and taxation.
The New Approach Missouri medical cannabis campaign submitted 372,483 petition signa....
U.S. Senate Minority Leader Announces Measure to Decriminalize Marijuana
Senate Minority Leader Chuck Schumer D announced today that he will soon be introducing legislation that would decriminalize marijuana across the United States.
In an interview with VICE News Schumer called the legislation long overdue, and said that too many people have been effected by the plants prohibiton.
Ill be introducing legislation to decriminalize marijuana at the federal level from one end of the country to the other, said Schumer, who is the leading Democrat in the Senate. Schumers announcement comes just weeks after the Senate Majority Leader Mitch McConnell R announced legislation that would legalize hemp.
Ive seen too many peoples lives ruined because they had small amounts of marijuana and served time in jail, muc....
GOP Lawmaker: Trump Administration Pledges Non-Interference In Legal Marijuana States
Republican Senator Cory Gardner CO says that he has received a verbal commitment from President Donald Trump specifying that the administration will not take action to disrupt marijuana markets in states that legally regulate the substance.
Since the campaign, President Trump has consistently supported states rights to decide for themselves how best to approach marijuana, Gardner told the Associated Press. Late Wednesday, I received a commitment from the President that the Department of Justices rescission of the Cole memo will not impact Colorados legal marijuana industry....
Medical marijuana states experience wide spectrum of wholesale prices, supply
The wholesale price and supply situation for various state medical marijuana markets is a mixed bag, with different regulations, patient counts and product availability generating diverse situations.
In New Mexico, for example, medical marijuana business owners are experiencing increased demand and rising prices.
Elsewhere, however, MMJ business owners are suffering the same fate as their recreational counterparts, namely bloated supplies and sliding prices.
New Mexicos situation is unique. Regulators there have capped the number of plants an MMJ business can grow at 450....
Californias Chalice Festival to be First to Allow On-Site Recreational Marijuana Use and Sales
Taking place July 13 to July 15, the California Chalice Festival will be the first in the state to allow recreational marijuana to be sold and consumed on-site.
The festival is slated to take place at the San Bernadino County Fairgrounds in Victorville starting July 13 and going through July 15. Launched in 2014, this years Chalice Festival will feature performances by Bassnectar, Ludacris, Bone Thugs-N-Harmony, Sizzla Kalonji, Curren$y, Cut Chemist, Pharcyde, and Thriftworks. LiveforLiveMusic.com notes that while past events have catered to medical marijuana users and paraphernalia aficionados, this years event will, for the first time, allow on-site marijuana consumption and purchases for adults aged 21 and older.
Feds Now Accepting Public Comments on Potential Rescheduling of Marijuana
Starting today, the federal government is accepting public comments regarding the potential rescheduling of marijuana as a schedule 1 controlled substances which puts it alongside drugs such as heroin.
In response to the United Nations World Health Organization announcing that they will soon review the current international classification of marijuana, the U.S. Food and Drug Administration FDA is themselves starting a review, and are asking interested persons to submit comments regarding the potential rescheduling of marijuana. The public comment period will be open from today, to April 23.
The FDA is seeking input on the abuse potential, actual abuse, medical usefulness, trafficking and impact of scheduling changes on availability for medical use of marijuana and its c....
GOP Congressman: Only Wealthy States Can Afford To Smoke Weed
Steve Pearce, who is running for governor in New Mexico, argues poor states cant handle legal marijuana
Rep. Steve Pearce R-N.M. said this week that his state shouldnt legalize recreational marijuana because it would hinder the economic fortunes of poor people. Wealthier states can better afford to handle the substance, he added.
I do not see how in combating poverty you can put one more obstacle in front of people who are struggling to get out of poverty, Pearce said Thursday, so I dont see where I would support recreational marijuana.
A wealthier state, the congressman added, could more easily absorb the allegedly deleterious effects of legal marijuana.
People [point t....
Google and Facebook wont advertise marijuana, even where its legal
Rachel Siegel The Washington Post
As the cannabis industry grows, generating an estimated $10 billion in annual sales, states are increasingly approving medical marijuana programs and passing adult-use laws.
But for marketing agencies, marijuana dispensaries and cannabis brands, advertising the pot brings its own hurdles.
Online platforms with prime advertising space like Facebook and Google do not allow drug, or drug-related promotions on their sites, leaving a large share of marijuana advertising to blogs and podcasts, newsletters and print media. And while experts say Facebook and Google which control....
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