CCMA Political greenBrief
Monday, September 10, 2018
“We continue to have the most cultivation licenses of any county in the state and more entities are coming in. What we need are local distributors and local testing labs. Those are essential. With the quantity of locally grown cannabis, we don’t want them to go to some other county (for those services).”Dennis Bozanich, Deputy County Executive Officer For Santa Barbara County, On The Flow Of Cannabis Tax Revenues
“The Department of Cannabis Regulation commends the city attorney and the LAPD for their successful efforts and continued dedication to identifying and prosecuting unlawful cannabis activity within the city. We all encourage residents to help in this effort by reporting questionable cannabis activity in their communities through the city’s online complaint portal.”Cat Packer, Executive Director Of The LA Department of Cannabis Regulation, On Illicit Cannabis Activity
California’s Crucial Role In The Cannabis Retail Market (CA – Cannabis Market)
Nasdaq (September 10, 2018) When California made adult-use cannabis fully legal, effective January 1, 2018, the state immediately became the world’s largest legal cannabis market. On top of the state’s massive economy, the world’s fifth largest by GDP, California has a huge population with a deeply entrenched cannabis culture. There are currently about 1.25 million medical cannabis patients there, a market that has been developing since 1996 when the state became the first to legalize medical marijuana. Add in the fact that tourists love California, and it is clear that companies looking to establish a foothold in the booming United States cannabis market should probably be doing all they can to succeed in the state.
Weed Farmers Are Suing A California County After It Kicked Them Out (CA – Cannabis Cultivation)
VICE (September 6, 2018) Since early July, Jason Hauer has spent approximately seven hours commuting to and from San Francisco five days a week. The 40-year-old cannabis grower claims he was forced to find a job 124 miles away from his home in California’s rural Calaveras County after local politicians voted in January to ban commercial marijuana cultivation just two years after attempting to regulate it. The decision by the Calaveras County Board of Supervisors early this year to ban grow operations in the area—20 months after granting temporary licenses to medical marijuana grows—has upset local pot cultivators who feel like the rug was pulled out from under them.
LA Charges 105 Cannabis Locations With Illegal Activity (CA – Illicit Market)
NBC Los Angeles (September 8, 2018) City Attorney Mike Feuer announced Friday that his office, in coordination with the Los Angeles Police Department, has filed 120 criminal cases against 515 defendants associated with 105 illegal commercial cannabis locations across the city. Since January, all businesses conducting commercial cannabis activity in Los Angeles are required to be licensed by both the state of California and the city. The new regulations follow the passage in recent years of state laws allowing recreational cannabis use and cannabis sales in the State of California.
PODCAST: Cannabis Legalization And The Waterfall Effect: Southern California’s Urban Experience (CA – Cannabis Industry)
Law.com (September 7, 2018) Greenspoon Marder’s of-counsel Lance Rogers leads this episode of “Cannabis Legalization and the Waterfall Effect,” where he looks at Southern California’s urban cannabis economy, and the incoming regulatory changes as a result of “The Act,” or how “The Medical and Adult-Use Cannabis Regulation and Safety Act” is sometimes called. This podcast has been shortened from an April 18th webcast, which is available in its full, unedited form on-demand.
Santa Clarita Marijuana Delivery Services In ‘Legal Limbo’ As California Regulates Weed (CA – Local Ordinances)
Home Town Station (September 6, 2018) After California voters passed Proposition 64 — which legalized cannabis in the state — the Santa Clarita City Council passed an ordinance to ban the sale, cultivation, manufacturing, testing or delivery of cannabis or products containing the substance within city limits. After California voters passed Proposition 64 — which legalized cannabis in the state — the Santa Clarita City Council passed an ordinance to ban the sale, cultivation, manufacturing, testing or delivery of cannabis or products containing the substance within city limits. The proposed regulations state that marijuana businesses may deliver to any private address in the state, regardless of whether the city permits actual brick-and-mortar pot shops in the jurisdiction.
Santa Barbara County Ready For Flow Of Cannabis Tax Revenues (CA – Cannabis Taxation)
Santa Maria Times (September 9, 2018) Santa Barbara County’s revenue valve is open for the cannabis taxes expected to start flowing into the General Fund in October, but at this point it’s uncertain whether those dollars will be a flood, or a trickle. The county has yet to collect its first quarter of cannabis taxes, which were authorized by voters in the June primary election. But if the county’s revenue mirrors what the state has collected this year, it could be less than initially hoped. California’s second-quarter take was up 22 percent from its disappointing first-quarter revenues, but the income from cannabis in the nation’s largest legal marijuana market is still $41 million short of initial projections.
There May Well Be Some Benefits Of Medical Marijuana, Session Admits (USA – Cannabis Use)
Weed Reader (September 6, 2018) Marijuana is one of the most widely used drugs the world over. This is especially true among the younger generation, despite it being illegal in most nations. In the U.S, some states have yet to legalize marijuana us, causing a bit of confusion among American citizens. Worse yet, U.S Attorney General Jeff Sessions had recently gone on record to support the use of medical marijuana, when he had previously been dead set against it. Let’s take a look at how he came about his decision. On April 25th, 2018, Sessions went before the Senate Appropriations Commerce, Justice and Science Appropriations Subcommittee panel and acknowledged that indeed there are some benefits from medical marijuana. He went further to support the appropriateness of studying cannabis for medical uses.
Cannabis Stock Trading Volume Kicks Off In Fall (USA – Cannabis Investments)
US News (September 6, 2018) Cannabis stocks are set to rise within a few weeks as their trading season is cyclical and typically kicks off in the fall. Retail investors should examine their current holdings since the sector’s seasonality means a surge in volume and liquidity from October through April. The trading season started earlier this year when Constellation Brands purchased a 38 percent stake in Canadian cannabis company Canopy Growth for $4 billion in August, says Michael Berger, founder of Technical420, a Miami-based company that conducts research on cannabis stocks. During the cannabis stock trading season from August to December 2017, the stocks rose by 20 percent and dipped by 5 percent. The same trading cycle is likely to occur this year.
US Cannabis Listings In Canada Rise As Investor Interest Spikes (USA – Cannabis Investments)
Marijuana Business Daily (September 7, 2018) A record number of U.S.-based marijuana companies are turning to Canada to fund aggressive expansion in the United States and globally. The companies, which face investment constraints in the United States, are being lured by Canada’s cannabis-friendly capital markets and a growing appetite among international investors for American MJ assets. So far this year, 17 U.S.-focused marijuana companies started trading publicly on the Canadian Securities Exchange (CSE), bringing the total to 41; in 2016, that number was just four.
3 Fastest-Growing Marijuana Markets — And The Top Stocks Poised To Profit From Them (USA – Cannabis Investments)
The Motley Fool (September 9, 2018) Marijuana markets across the world are set to grow by dizzying levels over the next few years. But where in the world will the fastest growth be? Of course, some marijuana markets will grow tremendously and still be quite small. To keep these from skewing the results, I excluded any market that wouldn’t have total marijuana sales by 2022 of at least $500 million. And because the U.S. has by far the biggest marijuana market, I included U.S. states individually while taking the total marijuana market for other countries. With all this said, here are the three fastest-growing marijuana markets in the world — and the top stocks poised to profit from them.
Increasing Use Of Cannabis For Pain Treatment Is Set To Grow The U.S. Medical Cannabis Market (USA – Medicinal Use)
PR Newswire (September 7, 2018) According to a report published by Global Market Insights, the U.S medical cannabis market size was valued at over USD 3.5 Billion in 2017 and is expected to exceed USD 8.0 Billion by 2024 while growing at a compound annual growth rate of 13%. The increasing use of cannabis as a treatment for a range of chronic pain will boost the market growth. Currently, 31 U.S. states have legalized cannabis for medical use. According to data from the National Health Interview Survey, about 25 Million people suffer from pain every day in the U.S. The medical cannabis pain management market in the country was valued at USD 2,691.9 Million in 2017, accounting for 75% of the market shares.
Costs, Delays Frustrate Those Waiting On Ohio’s Medical Pot Rollout (OH – Medicinal Cannabis)
Dayton Daily News (September 9, 2018) Ohio’s drawn-out process for getting its medical marijuana program off the ground has frustrated some local residents who are wondering when the drug will finally become available and what it will cost when it does. “I would speculate that a lot of people are not going to be able to use it just because of the cost factor,” said Alanna Sage who has three of the 21 conditions approved by the State Medical Board of Ohio to be treated by medical marijuana. Medical marijuana was supposed to be in the hands of patients Saturday, but the state missed that key deadline. It could be months before the product arrives on the shelves of local dispensaries.