Activists in North Dakota took a big step this week toward getting a cannabis legalization measure before the state’s voters in November. The group known as New Approach North Dakota said that it submitted boxes’ worth of signatures on Monday to the secretary of state’s office in the capital... Read more
Major Michigan marijuana retailer shutters four stores
Michigan marijuana retail giant Lume Cannabis Co., which operates nearly 30 stores with 1,000 employees across the state, abruptly closed four retail locations Monday, July 11. Lume, in a statement released through its East Lansing-based public relations firm, Byrum & Fisk, said the closures will allow the company to... Read more
Recreational marijuana sales remain steady as medical sales plummet in Arizona
Cannabis sales in Arizona continue to be robust overall, thanks to the continued explosion of recreational sales. But as adult-use recreational sales are increasing, medical marijuana totals are in a free-fall that began last year. The Arizona Department of Revenue reports that recreational cannabis sales were almost $75.5 million... Read more
With legal sales of recreational cannabis in New York still months away, state regulators are cracking down on unlicensed businesses that have jumped the gun and are already selling weed. Last week, officials with the New York Office of Cannabis Management (OCM) publicly identified 52 businesses that have been... Read more
Midterm Election Voters Will Likely Determine Cannabis Legalization Amid Several States
By Sadaf Naushad, NCIA Intern With midterm elections just four months away, cannabis activists are paving the path for major reformations to take place nationwide. In order for voters to see cannabis legalization on their state’s midterm ballot, cannabis advocates are scrambling to collect the number of signatures necessary.... Read more
Marijuana, hemp laws have changed in Louisiana. Here’s what that means for patients, consumers
Medical marijuana has been legal in Louisiana since 2019, but the laws have been tweaked and expanded since then, including this summer following the Legislative Session, while hemp laws were also adjusted. Louisiana’s medical marijuana law has allowed doctors to recommend — the equivalent of prescribing — the medicine for patients with any... Read more
Colorado Gov. Jared Polis last week announced the first businesses to receive funding through the state’s Cannabis Business Pilot Grant. A total of 16 aspiring cannabis retailers received the grants through a program that seeks “to save small businesses money, foster equity and diversity in the cannabis industry, and... Read more
You’re reading a copy of this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve as well as links to the week’s most important news. Friends, Investing in... Read more
Tax cuts leave California pot businesses wanting much more
Frustrations have been building steadily since voters legalized recreational cannabis in 2016, with Newsom’s backing. Rather than watching businesses rush to enter the market, the nascent legal industry has languished behind an expansive network of off-the-books pot shops and tucked-away farms that fuel a multi-billion-dollar enterprise. For licensed operations... Read more
New York is finally kicking off their recreational cannabis sales, after years of back-and-forth and push back against antiquated and racist drug laws. Now, the industry is up and running with some of the first 203 hemp growers given recreational licenses starting up their grows. And plot twist: the... Read more
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