Cannabis Stocks Archives - Page 2 of 16

ThursdayMar 13, 2025 10:00 am

Activist Says White House Called for Federal Cannabis Legalization Proposal

A drug reform advocate has revealed that the Trump administration is inviting proposals for federal marijuana legalization. The activist said that they attended a recent event where they discussed the matter of federal cannabis reform with a White House staffer and were invited to write a proposal explaining why President Trump should support legalizing cannabis at the federal level. While President Trump isn’t a big proponent of legalizing recreational marijuana, he doesn’t oppose the idea of cannabis reform either. He has expressed support for medical marijuana in the past and said that legalizing the controversial drug should be a state…

TuesdayMar 11, 2025 10:00 am

Canadians Think Justin Trudeau’s Highlight Was Marijuana Legalization, Poll Finds

A recent poll has found that Canadians believe outgoing Prime Minister Justin Trudeau's greatest accomplishment in office was cannabis reform. With Prime Minister Trudeau getting ready to leave office, Canadians are looking back on his tenure and reviewing his performance. For many, the role Trudeau played in legalizing marijuana in Canada was the highlight of his administration. Angus Reid Institute surveyed Canadian adults and found that marijuana reform was the outgoing Prime Minister's most popular policy achievement with 52% of Canadians backing the prime minister’s cannabis-related policy efforts. The non-profit held interviews with 1,850 adults from March 4th to 6th.…

FridayMar 07, 2025 10:00 am

10 Years After Georgia Legalized Medical Marijuana, Lawmakers Consider Expanding Access

Lawmakers in Georgia are considering expanding access to medical marijuana a decade after the state legalized the possession and consumption of marijuana for medical use. State legislators had been strongly against legalizing medical cannabis for quite a while but eventually settled on allowing the use of low-THC products to treat various qualifying medical conditions. Both Senate and House legislators are now expected to expand medical cannabis access in Georgia a little more. This comes after several years of failed attempts to expand Georgia’s medical marijuana policy and allow more patients to access and use cannabis for therapeutic purposes. However, with…

TuesdayMar 04, 2025 10:00 am

2025 California State Fair to Again Permit Onsite Cannabis Sales, Consumption

The upcoming 2025 California State Fair will allow onsite cannabis sales and consumption as well as a wider category of awards to demonstrate the diversity of California's marijuana market. This will be the fourth year that event organizers invite cannabis entrepreneurs and consumers to the 17-day event to take part in the festivities, and the second year in a row where cannabis sales and consumption are allowed on-site. Embarc founder Lauren Carpenter says the State Fair made history in 2024 by integrating marijuana sales and use during the event, and she is happy to come back to the over two-week-long…

FridayFeb 28, 2025 10:00 am

One Marijuana MSO is Reaping from Little-Known IRS Tax-Credit Scheme

A barely-known IRS credit scheme has allowed a multi-state marijuana operator (MSO) to earn millions of dollars in tax credits. Although cannabis firms remit hundreds of millions of dollars in taxes annually, federal law prevents them from claiming tax credits and deductions for operational expenses. However, Jushi Holdings took advantage of an obscure tax credit scheme to earn a little over $5 million. The Boca Raton-based vertically integrated MSO was owed around $6 million worth of Employee Retention Credit (ERC) by the IRS but would have had to wait for several months to claim the credit. Rather than buckle down…

ThursdayFeb 27, 2025 10:00 am

Study Shows NYC Youth are Accessing Marijuana from Unlicensed Outlets

A recent Columbia University study has revealed that youths in New York City have access to marijuana through unlicensed cannabis outlets. Even though New York State laws prohibit individuals under the age of 21 from accessing recreational marijuana, the study found that NYC youth are using illicit sellers to circumvent the state’s cannabis laws and access the drug before they are eligible. New York State legalized adult-use cannabis in 2021 and officially launched recreational marijuana sales in late 2022. Like in every other state with a regulated cannabis market, licensed cannabis retailers in New York State are legally required to…

TuesdayFeb 25, 2025 10:00 am

Michigan to Distribute Almost $100m from Cannabis Taxes to Communities

The Department of Treasury in Michigan announced on Friday that it will be distributing approximately $100m in cannabis tax revenue to 302 local communities and tribes. Detroit stands out as it will receive over $3m, the largest amount that any community in the state will receive. Every eligible county and municipality will get just over $58,000 for each retail store or microbusiness licensed to conduct operations within that jurisdiction. This sum was calculated based on the excise tax of 10% levied on all adult-use marijuana sales. This unit share is nearly the same as what was distributed last year when…

ThursdayFeb 20, 2025 10:00 am

Testing Lab Fraud Could Be Addressed by Involving Marijuana Industry Actors

Involving cannabis industry players in marijuana testing could help U.S. states address testing lab fraud, scientist David Vaillencourt says. Testing is critical to ensuring the cannabis products entering the U.S. market are free from potentially harmful contaminants like heavy metals, residual solvents, and bacteria. However, data has consistently shown that America’s state-approved cannabis industry is awash with untested products. In late 2024, a state-approved cannabis operator in Colorado ran a series of tests on retail cannabis products purchased in licensed marijuana stores from the Denver area, revealing something shocking: the majority of the products violated state health and labeling standards.…

FridayFeb 14, 2025 10:00 am

Illinois Recorded $2bn in Cannabis Sales in 2024

The Illinois Department of Revenue has revealed that the Buckeye State generated over $2 billion in legal cannabis sales and almost $500m in tax revenue last year. Illinois legalized recreational cannabis use on January 1, 2020, becoming the 11th state to allow adult-use cannabis and the first state to legalize the controversial drug via a state legislature instead of a ballot initiative. Recreational cannabis operators in Illinois earned $1.72 billion in total last year, with over $153 million worth of sales occurring in December. Medical marijuana sales for the year 2024, on the other hand, reached $285 million. Illinois earned…

ThursdayFeb 13, 2025 10:00 am

Prohibitionists, 2 American Senators Work to Block 280E Relief for Marijuana Companies

Two U.S. Senators have teamed up with prohibitionists to work on legislation that would block marijuana firms from receiving potential tax relief under Schedule III of the Controlled Substances Act. Senators Pete Ricketts and James Lankford are working with Smart Approaches to Marijuana to block 280E relief for state-sanctioned cannabis companies in the U.S. As marijuana remains a Schedule I controlled substance at the federal level, cannabis firms cannot function as effectively as businesses in other industries. For instance, they lack access to most banking services and cannot receive any kind of financial relief from the federal government even though…