Nov 04 2024

Florida, North Dakota, and Nebraska Could Generate $3 Billion in First-Year Marijuana Sales if Voters Legalize Marijuana Tomorrow

If voters approve marijuana-related ballot measures on Tuesday, Florida, North Dakota, and Nebraska could generate a collective $3 billion in the first year of regulated sales, according to projections from the MJBiz Factbook.

By their fourth year, these markets may reach an estimated $4.3 billion in total sales, finds the report.

Florida’s adult-use cannabis market holds the highest potential, driven by its population of 22 million residents and an estimated 140 million annual tourists. Should voters pass Amendment 3, Florida is expected to compete with California and Michigan, with recreational marijuana sales likely to reach $2.9 billion in the first year and surpass $4.1 billion by year four. Although polls indicate strong support for Amendment 3, some industry insiders warn that legislative delays could push back the market’s launch.
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Nov 04 2024

Tomorrow, Three States Could Join the 24 That Have Legalized Recreational Marijuana

There are marijuana-related initiatives on the ballots in numerous cities and states, but just three would take the step of fully legalizing recreational marijuana.

At the start of 2012, not a single state had legalized recreational marijuana. In the 12 years since, 24 states have passed laws allowing those 21 and older to legally possess marijuana. That number could jump to 27 tomorrow, depending on the results of elections in Florida, North Dakota and South Dakota.

Below is a brief look at these three measures.
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Nov 03 2024

Kamala Harris Says “I Will Legalize Recreational Marijuana” and “Create Opportunities for All Americans to Succeed in This New Industry”

In a social media post made this evening, Vice President Kamala Harris said “I will legalize recreational marijuana”.

In the post, made on the social media platform X.com, Harris said she will “break down unjust legal barriers, and create opportunities for all Americans to succeed in this new industry.”

Last month Harris released a policy agenda that includes a pledge to “legalize marijuana at the federal level.” In it, Harris promised to “work with Congress to ensure that the safe cultivation, distribution, and possession of recreational marijuana is the law of the land” if elected next month. This pledge came nearly two weeks after Harris said in an interview, “I just think we have come to a point where we have to understand that we need to legalize [marijuana] and stop criminalizing this behavior.”
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Nov 03 2024

South Dakota: $458,000 Raised in Support of Marijuana Legalization Initiative, $457,000 Raised in Opposition

The amount of money raised in support of legalizing marijuana in South Dakota is nearly identical to the amount raised by opponents.

South Dakota voters are set to consider recreational marijuana legalization on Tuesday with Measure 29, which would allow those 21 and older to possess up to two ounces of marijuana and grow up to 12 plants for personal use while outlining a regulatory framework for marijuana businesses. According to state data, the amount of money raised by both opponents and proponents of the initiative is almost identical, $458,000 to $457,000.

In the lead-up to the November vote, the Yes on 29 Ballot Committee reported raising $436,000, with $300,000 originating from within the marijuana industry. Contributions included $100,000 from GL Partners Inc., a medical marijuana dispensary in Rapid City. The Moyle family, owners of Moyle Petroleum Company, contributed $100,100, while HomeSlice Media donated $55,000 in services and cash. Additionally, the Marijuana Policy Project and a California-based cannabis mapping firm contributed $37,000 and $30,000, respectively.
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Nov 03 2024

Over $210 Million in Legal Marijuana Sold in Ohio Since August 7

Since launching recreational marijuana sales on August 7, Ohio’s marijuana market has recorded a combined $210,831,599 in total sales.

Recreational sales make up the largest portion, totaling $131,813,130 across 1,720,152 transactions, while the medical marijuana sector added $79,018,469 through 832,709 purchases, as of October 26. The steady sales growth illustrates strong demand in both markets as consumers adjust to the newly legalized recreational sector.

Marijuana prices in Ohio have fallen significantly since recreational sales began, reports the Ohio’s Division of Cannabis Control (DCC). The average price per gram is now $7.67, down from an average of nearly $10 per gram on August 7. This decline may reflect increased market stability as supply chains and pricing adapt to the influx of consumers.
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Nov 03 2024

These Ten Marijuana Strains Are the Most Popular in Legal Marijuana States Right Now

With marijuana legal in 24 states, certain strains have risen to prominence, captivating users with their unique effects, flavors, and potency.

GG4.

There are hundreds of different marijuana strains available throughout the legal marijuana market, but some are far more popular than others.

Drawing insights from state regulatory data and popular cannabis platforms like Leafly, here are the top 10 strains most sought-after in legal marijuana states as of November 2024.
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Nov 02 2024

Here Are the States With the Cheapest Legal Marijuana Prices

Recreational marijuana is legal in 24 states, which could jump to 27 after the November 5 election. In these states, average marijuana prices vary greatly.

Due to a variety of reasons —state and local regulations and tax rates, for example— prices vary substantially among the legal marijuana states. With that in mind, in this article we breakdown the states with the cheapest average marijuana prices, using data supplied by state regulatory agencies.

Below are are the legal marijuana states with the cheapest average price per gram of dried flower:
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Nov 02 2024

Rhode Island Legal Marijuana Sales Almost $10 Million in October, $100 Million in 2024

According to the Rhode Island Department of Business Regulations, legal marijuana stores and dispensaries sold a combined $9.79 million in product for the month of October.

Recreational marijuana made up the majority, with $7.97 million in sales, while medical marijuana patients accounted for $1.82 million. These figures represent consistent demand, bringing the year-to-date total for marijuana sales to $98,217,904.

Since the state’s first licensed recreational marijuana store opened in late 2022, Rhode Island has seen an all-time total of $135,447,702 in sales.
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Nov 02 2024

Study Finds 89% of Americans Support Legalizing Supervised Psilocybin Use

A new study published in AJOB Neuroscience reveals that most Americans support psilocybin use under supervision, with broad bipartisan backing for both mental health treatment and general well-being enhancement.

Dried psilocybin mushrooms (photo credit: Shutterstock).

Psilocybin, the psychedelic compound found in “magic mushrooms”, remains classified as a Schedule I substance in the U.S., making it illegal for all uses, despite numerous studies indicating its medical value.

This new study, titled “Strong Bipartisan Support for Controlled Psilocybin Use as Treatment or Enhancement in a Representative Sample of US Americans: Need for Caution in Public Policy Persists,” surveyed 795 Americans aged 18 to 92. The researchers aimed to gauge public opinion amid recent policy changes, such as Oregon’s move to legalize licensed psilocybin use.
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Nov 02 2024

Oregon: $79.5 Million in Marijuana Sold in October, Over $7 Billion Since 2015, Price Hits All-Time Low

There was nearly $80 million in marijuana sold legally in October throughout Oregon, bringing the all-time total to above $7 billion.

There was exactly $79,544,768 worth of marijuana and marijuana products sold in Oregon in October, according to data released by the state’s Liquor and Cannabis Commission. This marks a slight increase from the $78,565,729 worth of marijuana sold legally in August and the $78.7 million sold in October 2023.

Oregon legalized recreational marijuana in 2014, with licensed retail outlets opening the following year. Since then, the state has sold $7.02 billion in marijuana legally, resulting in around $1.2 billion in tax revenue.
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