Jul 08 2024

North Dakota: Marijuana Initiative Signatures Submitted, Nearly 50% More Than Required for November Ballot

New Economic Frontier, a political committee promoting an initiative to legalize recreational marijuana, has submitted nearly 50% more signatures than required to place the proposal on the November 5 presidential election ballot.

Today, New Economic Frontier submitted over 22,000 signatures for their initiative, far more than the 15,582 required to put the measure to a vote of the people. The initiative will officially be placed on the ballot and given a ballot title once the signatures are verified, a process expected to take a couple of weeks. The state will discard any duplicate signatures or those from unregistered voters in North Dakota.

The proposed initiative would legalize possession for adults 21 and older, allowing up to one ounce of marijuana, four grams of marijuana concentrates, and 1500 milligrams of adult-use cannabinoid products, including 300 milligrams in edible form. It would also permit the personal cultivation of up to three marijuana plants and the purchase of marijuana and marijuana products via licensed retail outlets. Retail outlets would be supplied by licensed growers and processors, and products would be tested by licensed testing labs.
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Jul 08 2024

Ohio Issues 188 Recreational Marijuana Licenses, Sales to Start Any Day Now

The Ohio Division of Cannabis Control (DCC) has issued 188 provisional dual-use licenses for medical marijuana companies seeking to serve the recreational marijuana market.

On June 7, the DCC opened the application process for existing medical marijuana companies that wish to service the newly legal recreational marijuana market. As of today, the DCC has issued 188 provisional licenses, including 110 to dispensaries, 39 to processors, 22 to level 1 cultivators, 11 to level II cultivators, and six to testing labs. Finalized licenses are expected to be issued any day now, allowing dispensaries to begin selling to anyone 21 and older, regardless of whether they are a medical marijuana patient.

Recreational marijuana possession and cultivation became legal in December after voters approved Issue 2 in November. Under this new law, individuals 21 and older can legally possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates, such as wax, oil, and hash. They are also allowed to cultivate up to six marijuana plants at a private residence for personal use.
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Jul 08 2024

The 10 Largest Marijuana Companies by Market Cap

Despite marijuana remaining illegal in most countries and in a majority of U.S. states, many marijuana companies have continued to thrive.

Currently, only a few nations, such as Canada and Uruguay, have legalized recreational marijuana. In the U.S., 24 states have legalized recreational marijuana. Regarding medical marijuana, around 40 countries have legalized it, alongside 38 U.S. states.

With that in mind, below is a list of the 10 most valuable marijuana companies by total market cap.
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Jul 08 2024

Report: Legalizing Marijuana in Pennsylvania Would Generate Over $2 Billion in Annual Sales, Over 30,000 New Jobs

According to a newly released analysis, if marijuana is legalized in Pennsylvania it will create over 30,000 new jobs, with the total market generating over $2 billion in annual sales.

Titled Estimating the Economic Impacts of an Adult Use Cannabis Market in Pennsylvania, the report was conducted by FTI Consulting.

For the report, FTI “projected adult use sales under three scenarios based on historical relationships between retail medical and adult use sales in other states.” The base case ($2.1 billion adult use market), low case ($1.7 billion), and high case ($2.8 billion). The analysis shows that the adult use cannabis market in Pennsylvania would support between 26,250 and 44,500 jobs within the first full year of a legal
adult use market, with the base case adult use market supporting an estimated 33,350 jobs in the state.
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Jul 08 2024

Over $10 Billion in Legal Marijuana Sold in the United States in First Half of 2024

Legal marijuana states combined for over $10 billion in sales in the first half of the year, according to an analysis by The Marijuana Herald.

Among the 24 legal marijuana states in the US, 20 have licensed marijuana stores currently operating and reporting sales data. Virginia is the only legal marijuana state that does not currently allow licensed sales, while Minnesota, Ohio, and Delaware have legalized too recently to have marijuana stores open.

Using data compiled by state regulatory agencies, below is a breakdown of each state’s marijuana sales data from January to June, followed by accumulative totals.
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Jul 07 2024

Florida: Three Recent Polls Shows Support for Amendment 3 to Legalize Marijuana Above 60%

Voters in Florida are less than four months away from deciding the fate of Amendment 3, which aims to legalize recreational marijuana. Multiple polls indicate that it is on track for passage.

Amendment 3 would allow individuals aged 21 and older to possess up to three ounces of dried marijuana flower and up to five grams of marijuana concentrates. These products would be available through licensed marijuana retailers, with medical marijuana dispensaries able to apply for a dual license to sell to both patients and recreational consumers. These outlets would be supplied by licensed growers and producers, with marijuana tested through licensed testing labs.

Since Amendment 3 would change Florida’s constitution, it requires at least 60% support to be enacted into law. Based on recent polling, support is well above this level.
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Jul 07 2024

Clinical Trial Finds Marijuana May Decrease Diabetes Risk

Those who consume marijuana have “healthier inflammatory cytokine profile, better insulin sensitivity, and higher levels of physical activity than nonusers,” all of which can be linked lower diabetes, according to an ongoing clinical trial presented at the 2024 annual American Diabetes Association 84th Scientific Sessions.

In the findings from the ongoing SONIC trial, first reported by Medscape, Angela Bryan, PhD, professor and codirector of CUChange at the University of Colorado, and her colleagues hypothesized that “those inflammatory profiles would improve over the course of 4 weeks, particularly for those using a CBD as opposed to a THC product.”

The SONIC study involved regular cannabis users with an average age of 30 and a healthy body mass index (BMI). The study group was predominantly White (86%) and male (59%). These participants were matched with a similar group who had not used cannabis for at least a year. At baseline, the overall NSDR Healthy Eating Index score for participants was 51.24, indicating a “need for improvement/poor diet.”
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Jul 07 2024

These Four States are Set to Legalize Marijuana in 2025

In 2025, at least four states are poised to join the ranks of those that have legalized recreational marijuana.

Three states — North Dakota, South Dakota, and Florida — have marijuana legalization initiatives on this November’s ballot, potentially increasing the number of legal states to 27. Additionally, several states came close to legalizing this year and have garnered enough momentum and support (or are close to it) to pass marijuana legalization bills in 2025.

With that said, here are the four states we believe will legalize marijuana next year.
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Jul 06 2024

Colorado: $101 Million Worth of Marijuana Sold in June, All-Time Sales Reach $16 Billion

In June, legal marijuana sales in Colorado topped $100 million, with all-time sales reaching an eye-opening $16 billion.

According to the Colorado Department of Revenue, there was approximately $101 million worth of marijuana and marijuana products sold through legal means in June. This is roughly on par with the $103 million sold in May, but it’s a noticeable drop from the $116 million sold in June 2023.

The year-to-date total for marijuana sales in Colorado is now $667 million, with the total since the start of legal sales over a decade ago now standing at around $16 billion.
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Jul 06 2024

Massachusetts: June Marijuana Sales Top $150 Million, Prices Drop to All-Time Lows, Active Strain Count Now 660

Massachusetts saw over $150 million in legal marijuana sales for the sixth straight months.

According to data released by the Massachusetts Cannabis Control Commission (CCC), marijuana sales in June totaled $152.4 million. Recreational consumers purchased $137 million worth, while licensed medical marijuana patients accounted for $15.4 million. This brings the total marijuana sales for the first half of 2024 to $799.7 million, with all-time sales reaching $6.34 billion.

Prices in June hit an all-time low, with the average cost per gram of dried marijuana at $5.06, over $0.20 cheaper than the previous low. The cost per ounce is now $143.53, notably lower than the previous record of $149.97.
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