Marijuana Legalization and Regulatory News for Cannabis Businesses

Pennsylvania lawmakers pitch adult-use marijuana bill with state-run stores

A Pennsylvania state lawmaker introduced a recreational cannabis legalization bill that calls for retail stores to be operated by the state Liquor Control Board, a move that would limit private business opportunities. The proposed law, introduced by Democratic Rep. David Delloso, comes just days after Gov. Tom Wolf said he supports legalizing recreational marijuana. The governor’s […]

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Poll suggests Californians want more adult-use marijuana stores

Recreational cannabis retailers could open far more stores in California if municipalities respond favorably to a poll that shows the majority of state residents welcome the legalization of adult-use MJ sales. The UC Berkeley Institute of Government Studies’ poll conducted for the Los Angeles Times found that 68% of Californians say the legalized sale of […]

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Nevada governor names head of new cannabis regulatory panel

(This story has been updated to provide additional detail on the status of Nevada’s former cannabis licensing chief.) Nevada Gov. Steve Sisolak appointed an executive director to the new Cannabis Compliance Board (CCB), which is aimed at providing stronger oversight of the state’s $640 million legal cannabis industry. The panel, created by Assembly Bill 533, is […]

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Illinois releases social-equity map for adult-use marijuana licensing

Illinois officials identified areas where applicants who want to legally grow and sell recreational cannabis would get preference under the law’s social equity provision, one that some believe could become a national blueprint for other MJ programs. The map was released on the eve of the state making applications available for up to 75 rec […]

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Connecticut closer to adding chronic pain for medical marijuana use

A Connecticut physicians panel recommended adding chronic pain that has lasted at least six months as a qualifying condition to use medical cannabis, which, if adopted, could provide a significant shot in the arm to the fast-growing market. The board of physicians also voted to recommend adding Ehlers-Danlos syndrome, a group of disorders that affects connective […]

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Pennsylvania’s top prosecutor supports legalizing recreational marijuana

The legalization of adult-use marijuana in Pennsylvania – which likely could create a market worth more than a billion dollars a year according to Marijuana Business Daily estimates – received another boost as the state’s top law enforcement officer tweeted that he is joining several other state Democratic officials in backing the effort. ??ANNOUNCEMENT After […]

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Oklahoma credit union stops serving medical cannabis companies

A credit union serving Oklahoma’s medical marijuana industry decided to stop doing so, a move that affects nine accounts and deals a setback for the state’s MMJ companies. Tulsa-based Encentus Federal Credit Union told the Tulsa World that serving the MMJ industry was too costly and the regulatory burden too great. The credit union informed […]

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US Senate panel chair: Cannabis banking reform prospects looking up

The chair of a key U.S. Senate panel is optimistic about the prospects for a cannabis banking bill following bipartisan approval of legislation in the House. Such a bill, if it passes the Senate and is signed into law, would open up the banking floodgates for state-lawful marijuana businesses, which now deal mostly in cash. […]

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Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be […]

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After the SAFE vote in US House, here’s what you need to know about the current state of banking in the marijuana industry

The U.S. House of Representatives’ vote approving legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of reprisal is a milestone for the cannabis industry. Nevertheless, the 321-103 House vote is but another step on a long and often bumpy legal road toward changing how […]

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Week in Review: Momentous marijuana banking vote in US House, vape crisis fallout, MA approves MJ cafes/delivery & more

The U.S. House passes a cannabis banking bill with strong bipartisan support, Massachusetts is the first state to nix the sale of all tobacco and marijuana vaping products, a Washington state man sues half a dozen MJ vape companies for allegedly causing his lung illness – and more of the week’s top cannabis business news. […]

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