New York Medical Cannabis Business & Marijuana Legal News

Acreage reports improved cannabis revenue, net loss for quarter

Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year. Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth […]

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Chart: Medical marijuana markets expanding at varying rates, with Oklahoma, Florida setting the pace

While medical marijuana is legally available in 36 states and Washington DC, the fragmented nature of the industry – each state creates its own set of rules – means each market grows at a different rate. The new quarterly release of the Marijuana Business Factbook presents updated profiles of each state market, highlighting the growth […]

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Cresco receives regulatory approval for New York marijuana license deal

Chicago-based Cresco Labs, one of the country’s largest multistate cannabis operators, received regulatory approval to acquire one of only 10 vertically integrated licenses in New York. The license, which will allow for one cultivation and four dispensary facilities in the state, is linked to Cresco’s purchase of Valley Agriceuticals. The acquisition is expected to close […]

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Columbia Care reports higher marijuana revenue, bigger losses

Columbia Care, a New York-based multistate cannabis operator, reported revenue of $19.3 million for the second quarter ended June 30, up from $9.6 million in the same period last year. Net loss for the period was $33.7 million, compared with a loss of $4.2 million in the second quarter of 2018. The company said the […]

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American public pension funds invest in cannabis through California-based REIT

More than a dozen public pension funds are investing in marijuana through a California real estate investment trust (REIT), a sign that institutional investors wielding billions of dollars in state funds are comfortable pumping money into the cannabis industry. The public pension funds for government employees represent a broad range of states – from California, […]

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What’s next in New York and New Jersey? Marijuana business experts weigh in

Illinois became the 11th state in the nation Tuesday to legalize adult-use marijuana after Gov. J.B. Pritzker signed a recreational bill into law. The governor’s historic bill signing comes not long after New York and New Jersey both failed to legalize potential billion-dollar commercial recreational programs. What lessons were learned by the cannabis industry, and how […]

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Week in Review: House votes to protect legal MJ, Acreage/Canopy shareholders decide, NY adult-use cannabis roadblock & more

The U.S. House of Representatives approves a bipartisan amendment that would shield state-legal cannabis programs from interference by the U.S. Department of Justice, Acreage and Canopy shareholders OK the planned acquisition, New York’s adult-use cannabis legislation hits a wall – plus other important news from around the industry. US House OKs provision protecting state-legal cannabis industries […]

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Key New York lawmaker says adult-use cannabis bill dead for now

The New York legislator who introduced a measure to legalize recreational marijuana in the state said Wednesday it’s “clear” it won’t get done in this legislative session. “This is not the end of the road, it is just a delay,” Democratic state Sen. Liz Krueger said in a statement. Key lawmakers and Gov. Andrew Cuomo’s […]

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Week in Review: Illinois makes history, New Jersey expands medical cannabis, FDA mulls CBD in food & more

Illinois legalizes adult-use cannabis, New Jersey maps a major expansion of its medical marijuana program, the U.S. Food and Drug Administration holds a landmark hearing – plus other important news from around the industry. Illinois marks a first Illinois became the first state in the country to legalize a commercial recreational market through its Legislature. […]

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New York governor says legalization of adult-use cannabis unlikely this year

New York Gov. Andrew Cuomo said he doesn’t believe it’s feasible for lawmakers to legalize recreational marijuana in 2019. The Democrat told reporters he doesn’t see sufficient support to pass the measure in the state Senate. Cuomo said he backs the legalization of marijuana but the issue remains controversial for many legislators. And he noted […]

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