Legislation to deschedule marijuana nationwide now has a combined 110 sponsors in the United States Congress, representing 25% of the entire body. In the US House of Representatives, the MORE Act (H.R. 5601), initially filed in April 2023 with only a few sponsors, now boasts 92 sponsors, all Democrat. This proposed legislation aims to deschedule …
Report: Legal Cannabis Market Worth $43 Billion, to Grow to $100 Billion by 2028
The legal cannabis market is valued at over $40 billion and is expected to grow substantially in the coming years, according to a new report. The Technavio report shows that the market is expected to grow at a compound annual growth rate (CAGR) of 28.85% between 2024 and 2028. “The market’s growth rate hinges on …
United States: Over $1.8 Billion in Legal Marijuana Sold in May Alone
Among the states that have legalized recreational marijuana, there was over $1.8 billion in marijuana and marijuana products sold in May. There are 24 states that have legalized recreational marijuana, with all but Virginia allowing licensed sales. Among these states, Minnesota, Ohio, and Delaware do not yet have marijuana stores open as they legalized too …
IRS Confirms Marijuana Rescheduling Will Allow Legal Marijuana Businesses to Take Tax Deductions
Once the Drug Enforcement Administration’s (DEA) proposal to move marijuana to Schedule III is finalized, marijuana businesses following state law will be allowed to take tax deductions like any other legal business, says the Internal Revenue Service (IRS). In a press release sent today, the IRS confirms that once marijuana is moved to Schedule III, …
The 5 States With the Most Expensive Legal Marijuana Prices
Recently, we examined the five states with the lowest average cost of legal marijuana. In this article, we’ll explore the most expensive states. There are 24 states that have legalized recreational marijuana, with all but one allowing licensed marijuana retail outlets. Average prices vary greatly from state to state, ranging from a little under $4 …
US Congress: Bipartisan Lawmakers File Cannabis Research Act
The Cannabis Research Act has been introduced by Congressmembers Scott Peters (D-Calif.) and Dave Joyce (R-Ohio). The legislation requires the National Institutes of Health (NIH) to collaborate with agencies such as the Centers for Disease Control and Prevention (CDC) to establish “a national cannabis research agenda that addresses key questions and gaps in evidence.” The …
US House Bill to Decriminalize and Deschedule Marijuana Gains 3 New Sponsors, Now Has 92
Legislation in the United States House of Representatives that would deschedule marijuana and facilitate expungements has gained three new sponsors. Yesterday, Congressmembers Lee Summer (D-PA), Frank Mrvan (D-IN) and Gregorio Casar (D-TX) joined as a cosponsor to the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. This brings the total number of sponsors to 92. The …
Delaware: Legislation to Allow Recreational Marijuana Sales to Begin This Year Sent to Governor Carney
Legislation to allow medical marijuana dispensaries to begin selling recreational marijuana this year, far ahead of schedule, has been passed by the Delaware Legislature and sent to Governor John Carney. By a 16 to 5 vote, House Bill 408 has been passed by the Delaware Senate. The measure has already passed the full House of …
US Transportation Secretary Pete Buttigieg Addresses Marijuana Rescheduling’s Impact on Drug Testing at Congressional Hearing
During a June 27 congressional hearing, U.S. Department of Transportation Secretary Pete Buttigieg stated that his agency believes a recent Drug Enforcement Agency (DEA) proposal to reschedule marijuana will not directly affect the trucking industry’s ability to drug test drivers. During a recent hearing of the House Committee on Transportation & Infrastructure, Congressmember Rick Crawford …
Illinois: Legal Marijuana Sales Reach $170 Million in May, Over $800 Million for the Year
In Illinois, there was approximately $170 million in legal marijuana and marijuana products sold in May. According to the Illinois Department of Financial and Professional Regulation, $146.2 million worth of recreational marijuana and $24.4 million worth of medical marijuana were sold in May. This totals $170.6 million, a slight increase from the $169.6 million sold …
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