CCMA Political greenBrief
Friday, November 16, 2018
An Employee Inspects Cannabis Plants In The U.K, The Biggest Producer Of Cannabis For Medical And Scientific Purposes. A Dozen Or More Countries Have Started On The Path Towards Full Legalization Of Cannabis, But The United States Is Still Falling Behind
“I’ve been chronicling and analyzing this industry for the past seven-plus years, and for the first time I can potentially see a federal change coming within the next year. There will be a big crack in the marijuana legalization dam in the U.S. So much pressure is building up in significant areas that lawmakers must start to pay more attention.”Chris Walsh, Founding Editor & VP Of Marijuana Business Daily, On The Growth Of The U.S. Cannabis Market
“We’re cautiously optimistic about the progress being made on cannabis policy in the States. We’re hopeful that things will evolve for the better. That’s the sentiment industry round.”Shri Ganeshram, VP Of Growth At Eaze, On Expanding The U.S. Cannabis Market
California Department Of Tax And Fee Administration Reports Cannabis Tax Revenue Increases In Third Quarter Of 2018 (CA – Cannabis Revenue)
Mojave Desert News (November 14, 2018) The California Department of Tax and Fee Administration reported increased revenue numbers today for cannabis sales for the 3rd quarter of 2018. Tax revenue reported by the cannabis industry totaled $93.1 million for 3rd quarter returns received through October 31, 2018, which includes state cultivation, excise and sales taxes. It does not include tax revenue collected by each jurisdiction.
Cannabis Company Bloom Farms Commits To Getting 50 Percent Of Its Supply From Women-Operated Businesses (CA – Cannabusiness)
Civilized (November 14, 2018) California-based cannabis company, Bloom Farms, announced Tuesday that they are making a commitment to having 50 percent of its cannabis suppliers to be women-owned or operated by the end of 2020. Since the beginning, the company has touted their commitment as a mission-based company. One of their early initiatives, which they continue today, is to supply a meal to a food bank in California or Nevada for each product sold in that state.
Cannabis Business Predictions Take Center Stage At MJBizCon 2018 (USA – Cannabusiness)
Marijuana Business Daily (November 14, 2018) Three more states could prove likely candidates to legalize recreational cannabis in 2019. Uncle Sam may be poised to reform the nation’s marijuana laws. And annual medical marijuana sales in the United States are projected to drop for the first time in 2018 – but the decline is expected to prove short-lived. Those were just three of the predictions that came to light Wednesday on the first day of the annual MJBizCon in Las Vegas – with some marijuana reform at the federal level representing a potentially groundbreaking development for the cannabis industry.
Marijuana Startup Backed By John Boehner Goes Public In Canada (USA – Cannabis Investments)
Bloomberg (November 14, 2018) The cannabis startup backed by former Speaker of the House John Boehner is set to become one of the most valuable companies in the U.S. weed industry. Acreage Holdings is the latest U.S. cannabis firm to tap the public markets in Canada, where marijuana is legal, through a reverse takeover. The company raised $314 million in a private placement that values it at about $2.8 billion. Acreage shares are set to start public trading on Thursday.
Cannabis Goes Global While The U.S. Falls Behind (USA – Cannabis Market)
Forbes (November 16, 2018) This week, Mexico’s Congress is expected to begin deliberating a bill to legalize medical and recreational cannabis use across the country. President-elect Andrés Manuel López Obrador signaled his willingness to consider legalization during the campaign. Spain and the Netherlands allow recreational use at designated cafes. Jamaica and the Czech Republic have burgeoning cannabis tourism industries. As more and more countries legalize cannabis, the United States is falling further and further behind.
Recreational Marijuana: Why Should Cannabis Be Legalized? (USA – Legalization)
Pot Stock News (November 14, 2018) Colorado and Washington State first got the ball rolling on recreational marijuana back in 2012. Since then, California, Oregon, Nevada, Alaska, Vermont, Maine, Massachusetts, Washington D.C., and, most recently, Michigan have followed suit—although only certain states allow the sale of cannabis in retail locations. Those in favor of recreational marijuana point to the studies conducted indicating that the plant is safer than alcohol and tobacco, both of which are currently legal in the United States.
Tilray Ready To Move Into U.S. Cannabis If Farm Bill Passes (USA – Cannabusiness)
Bloomberg (November 13, 2018) Tilray Inc. is prepared to quickly move into the U.S. cannabis market if a pro-hemp farm bill is passed. Tilray’s $500 million in cash, its Nasdaq-listing and its global reach “gives us advantages to very quickly deploy capital in the U.S.” if Congress passes the farm bill, which would legalize non-intoxicating cannabidiol derived from hemp, Brendan Kennedy said Tuesday on the company’s third-quarter earnings call. He is also closely watching the STATES Act, which would give states the power to legalize marijuana without the threat of federal interference.
Marijuana Legalization In The U.S. And Canada: When, How, and Why? (USA & Canada – Legalization)
Pot Stock News (November 14, 2018) As of the time of this writing, 33 US states have legalized marijuana for medical reasons. Ten states, as well as Washington, DC, have implemented full marijuana legalization programs. On October 17th, 2018, Canada legalized recreational adult-use of cannabis, prompting many US legalization advocates to call for their federal government to follow suit, because cannabis is still illegal under US federal law. Provided the legalization program goes smoothly in Canada, this model could serve as evidence that Canada’s neighbors to the south should implement a similar program.
This Cannabis Delivery Company Wants To Educate The Public On CBD (USA – CBD Market)
AdWeek (November 15, 2018) Cannabidiol—more popularly known as CBD—is becoming even more mainstream. The popularity of CBD—and the amount of misinformation out there—has created an opportunity for Eaze, a cannabis delivery company in California, to flood the market with the one-two punch of CBD products and educational material. Its website teaches consumers about everything from proper usage to figuring out the amount of CBD in each product.
Leafly Insights: What CBD Strains & Products Are Consumers Looking For? (USA – CBD Market)
Leafly (November 15, 2018) Everyone seems to be talking about CBD these days. Both on Google and Leafly, search interest for CBD has been skyrocketing. According to Google Trends, interest in CBD as a search term is now four times higher than it is for THC. What kind of CBD products are common in the marketplace and what kinds of CBD products and strains are consumers looking for?