In Illinois there was $165.5 million worth of marijuana sold legally in September. Recreational marijuana consumers purchased $139.5 million worth of marijuana in September, a slight increase over the $139.2 sold in August. In terms of medical marijuana, there was $26 million purchased in September, a slight decrease from the $26.5 million sold in August. …
Category: News
Ouster of US House Speaker Could Delay Passage of Marijuana Banking Act
The removal of Kevin McCarthy as Speaker of the House, and the potential for weeks or months without a replacement, is at least temporarily a bad sign for those hoping the SAFER Banking Act will be passed into law this year. Last week the Senate Committee on Banking, Housing and Urban Affairs passed the SAFER Banking …
Report: Global CBD Market Worth $9.4 Billion
The global market for cannabidiol (CBD) grew from $6.82 billion in 2022 to $9.4 billion in 2023 at a compound annual growth rate (CAGR) of 37.8%. According to a report by Research and Markets, the cannabidiol market is expected to grow from $9.4 billion in 2023 to $31.85 billion by 2027 at a CAGR of …
New York Governor Announces Plan to “Aggressively Expand New York’s Legal Cannabis Market”
Governor Kathy Hochul today announced the largest expansion of New York State’s legal cannabis market to date, with hundreds of licenses being made available to individuals and businesses interested in legally growing, processing, distributing, and selling cannabis. According to a press release sent by the governor’s office, the application period is open as of today, …
Michigan House Advances Bill to Allow Marijuana Agreements With Indian Tribes and Exempt Them From Taxes
A Michigan House committee has given approval to legislation that would allow the state to enter into agreements with Indian tribes while exempting them from the state’s marijuana excise tax. The House Committee On Regulatory Reform passed Senate Bill 180 today without amendment, moving it towards a vote by the full House of Representatives. The …
Marijuana Company Officially Acquires Eight Beer and Beverage Brands From Anheuser-Busch
Tilray Brands, Inc., a global marijuana company, has closed a deal to acquire eight beer and beverage brands from Anheuser-Busch, roughly two months after entering into a definitive agreement. Tilray has acquired Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall …
Portland, Maine City Council Passes Ordinance to Decriminalize Psychedelics
By a vote of 6 to 3 the Portland, Maine City Council has voted to decriminalize the personal possessions of psychedelic plants and fungi. The council of Maine’s most populated city voted 6–3 in favor of the resolution, which would apply to the possession of DMT, mescaline, psilocybin/psilocyn (magic mushrooms) and ibogaine. “[The] use of …
Maryland: Over $90 Million Worth of Legal Marijuana Purchased in September
In the third month of legal recreational marijuana sales (September), Maryland marijuana stores sold just over $90 million worth of marijuana and marijuana products. In total there was $90,775,416 in marijuana purchased in September, a slight decrease from the $91.7 million sold in August but an increase over the $87.4 million sold in July. $36,516,313 …
Federal Marijuana Banking Act Now Sponsored by Over 25% of the Entire US Senate
A bill to allow banks and other financial institutes to work with marijuana businesses now has 26 sponsors, over a quarter of the entire US Senate. Last week the Senate Committee on Banking, Housing and Urban Affairs passed the SAFER Banking Act (S.2860), with Senate Majority Leader Chuck Schumer vowing soon after to put it …
Florida Supreme Court Schedules Hearing on Marijuana Legalization Initiative
The Florida Supreme Court has scheduled a hearing to decide whether or not an initiative to legalize marijuana will be put to a vote next year. In June the Florida Division of Elections confirmed that the Smart & Safe Florida campaign submitted 967,528 validated signatures on their marijuana legalization initiative, well more than the 891,523 …
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