For the third consecutive month marijuana sales in Vermont topped $12 million.

July was the first month in Vermont where marijuana sales reached $12 million. In the months since, the market has maintained sales levels above $12 million.

According to the Vermont Department of Taxes, there was $12.08 million in marijuana and marijuana products sold in September, a decrease from the $13 million sold in August, but a substantial increase from the $10.4 million sold last September. September sales resulted in $1.7 million in tax revenue.
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 Custom Cones USA, the company behind the smoking accessories brands DaySavers, Smoke Temple, and Fill-a Blunts, today published a white paper in partnership with Headset that provides the deepest analysis of the cannabis industry pre-roll consumer, looking at everything from demographics, purchasing behaviors, consumer preferences, and price points.

The report found that Millennials account for the largest share of pre-roll purchases by nearly 100%, cornering 45% of market demand at $104 million. In a first-of-its-kind study, they combined survey data from over 900 cannabis users from around the country with Headset analytics to create a comprehensive look at the pre-roll consumer and their buying habits.

What the report found is that pre-roll use continues to rise, with 82% of consumers buying them, and sales revenue is up over 450% over the past 5 years at $3 billion. It also found that consumers have a wide variety of preferences including size and package type, and that more and more are buying premium options like infused pre-rolls (70% of respondents), or pre-rolls with premium filter tips (nearly 60% of respondents). Other notable findings include:

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In Michigan, licensed marijuana stores sold nearly $270 million worth of product in October.

In October, marijuana and marijuana products generated $269,527,217.05 in sales, according to data from the Michigan Cannabis Regulatory Agency (CRA). Nearly all sales were for recreational marijuana, with approximately $1 million coming from medical marijuana. These figures represent a slight increase from the $265 million recorded in September and the $262 million in October 2023.

The year-to-date total for marijuana sales in Michigan is now $2.5 billion. All-time sales are now $9,676,325,456.65, putting the state on track to cross $10 billion in mid-December. All-time sales have resulted in over $1.5 billion in tax revenue.
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Maryland has continued its strong marijuana sales trend with over $95 million sold in October.

According to data released by the Maryland Cannabis Administration, there was $96,122,126 worth of marijuana and marijuana products sold legally in October, a slight increase from the $93 million sold in September. Sales data includes dried marijuana flower and prerolls, as well as a variety of marijuana products including marijuana concentrates, edibles and topicals. Of the $96 million sold, $71 million was purchased for recreational use, with medical marijuana patients purchasing $25 million in product.

The year-to-date total for marijuana sales in Maryland is now $944 million, putting the state on track to pass the $1 billion mark in November. The top month for the year reminds August, with $100.6 million in marijuana sales.
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Illinois is investing $7 million in a new Cannabis Research Institute (CRI) to examine marijuana’s effects on individuals and communities.

The funding, from the state’s Department of Human Services, will support the institute’s mission to provide comprehensive research on the scientific and socio-economic impacts of cannabis use and production.

The CRI, set to be led by Reginald “Reggie” Guadino, will operate from the University of Illinois’ Discovery Partners Institute in Chicago. It is temporarily located at the Illinois Medical Center, previously used as a COVID-19 testing site on the city’s West Side.
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Cannabis Bioscience International Holdings (OTCMKTS: CBIH) announce recently that it was selected from a competitive field of numerous companies as one of the few U.S. bioscience cannabis companies invited to participate in the DEA hearings on the rescheduling of marijuana.

Represented by CEO, Mr. Dante Picazo, CBIH will present clinical trial data showcasing the therapeutic benefits and potential of Cannabis sativa L., emphasizing the company’s commitment to pioneering innovative treatments. In its presentation, CBIH will provide robust evidence on the safety and efficacy of cannabis compounds in medical science, while highlighting the economic opportunities a rescheduling could unlock for the entire industry, according to a press release.

“This opportunity reaffirms the importance of advancing cannabinoid research and development. The event provides a vital forum where regulatory authorities can engage directly with entrepreneurs, executives, physicians, scientists, patients, and other key industry stakeholders. Such interaction paves the way for a more informed and equitable regulatory framework for the sector,” says Mr. John Jones, Treasurer and Director of CBIH.
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Over 830 financial institutions nationwide have filed with the U.S. Treasury Department to disclose their relationships with licensed cannabis businesses, according to quarterly data from the department.

This marks a modest increase from last year’s figures and is nearly double the number of banks and credit unions that reported partnerships with the cannabis industry in 2018.

Despite this growth, less than 10% of all U.S. financial institutions currently provide services to state-licensed cannabis businesses. Federal regulations discourage most banks from engaging with the cannabis industry due to marijuana’s status as a Schedule I controlled substance under federal law. As a result, many cannabis businesses are forced to operate largely in cash, creating significant challenges in security and operational efficiency.
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Legislation that would make recreational marijuana legal for those 21 and older throughout Texas was prefiled yesterday in the Texas Senate, in preparation for the upcoming session.

Senate Bill 335 was filed by Senator Sarah Eckhardt (D) yesterday, one day after State Representative Jessica Gonzalez filed companion bill House Bill 1208.

Both measure would allow those 21 and older to possess up to 2.5 ounces of dried marijuana and up to 15 grams of marijuana concentrates. A licensed and regulated system of marijuana businesses would be established, including retail outlets that would be accessible to anyone 21 and older regardless of whether or not they live in Texas or have a medical condition.
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