NY Could See Over $1B in Cannabis Tax Revenue

The New York tax collector should be excited about Governor Hochul’s projected $1.25B in cannabis tax revenue over the next six years. The state’s 2023 fiscal year budget includes $56M in anticipated revenue, 70% from license fees from businesses alone. Continue reading “NY Could See Over $1B in Cannabis Tax Revenue”

France’s Constitutional Council Gives CBD the Nod

It looks like France’s Constitutional Council is giving CBD its blessing, saying that CBD is not harmful to health nor addictive. This contradicts a December decree which prohibited the possession, use, or sale of CBD. Continue reading “France’s Constitutional Council Gives CBD the Nod”

German Government Official Previews Cannabis Legalization

Even though Germany’s government has its eyes set on tackling the coronavirus pandemic, some details of the forthcoming cannabis legalization plan have been released.

A top government official has provided additional information about the pending proposal. Continue reading “German Government Official Previews Cannabis Legalization”

DEA Approves Two Companies To Harvest Cannabis

For more than 50 years, there has only been one DEA-approved facility legally allowed to grow cannabis for research purposes.

However, in May of 2020,  several companies received conditional approvals for their applications after the DEA said it would be taking steps to end that monopoly and authorize additional manufacturers.

Continue reading “DEA Approves Two Companies To Harvest Cannabis”

3 Governors Tout Their Marijuana Reform Accomplishments

Man Putting His Vote in the Ballot Box

Legalization, on a federal level, didn’t happen for cannabis in 2021, but numerous states implemented several reforms, including adult-use legalization.

That was reason enough for the governors of New Jersey, New Mexico, and Connecticut to celebrate on Twitter as they looked back on the last day of the year for 2021. Continue reading “3 Governors Tout Their Marijuana Reform Accomplishments”

Sector Jumps on Republican-Led Cannabis Bill

Man Putting His Vote in the Ballot Box

Cannabis stocks just had one of their best weeks of the year after getting some much-needed good news on federal legalization.

On Thursday, Marijuana Moment reported that representative Nancy Mace (R-SC) is circulating a bill called the States Reform Act that would legalize and tax recreational cannabis at the federal level. Continue reading “Sector Jumps on Republican-Led Cannabis Bill”

Cannabis Stocks Spiking on Hopes for Banking Bill

Man Putting His Vote in the Ballot Box

The U.S. cannabis industry is on the verge of its biggest win of 2021.

It looks like some major cannabis legislation has a strong possibility of being passed in the next few weeks – and if it does pass, it could set the stage for a monster cannabis stock rally into the end of the year.

The bill in question is the Secure and Fair Enforcement (SAFE) Act, commonly referred to as the Safe Act. The Safe Act is one of the most popular cannabis bills and it has widespread support from both Democrats and Republicans. Continue reading “Cannabis Stocks Spiking on Hopes for Banking Bill”

New York Governor Vows to Unleash $1 Billion Cannabis Market

Investors searching for a catalyst to pull cannabis stocks out of this 7-month bear market should look to New York. New York Governor Andrew Cuomo’s recent resignation could be a solid catalyst for the U.S. cannabis industry.

New York voted to legalize recreational cannabis back in March of 2021. The process to get the market up and running had become stalled after Cuomo became embroiled in a dispute with the NY Senate.

Because of this dispute, Cuomo failed to appoint key positions required to create a regulatory structure for the New York cannabis industry to launch. This is a serious logjam that needs to be cleared for the industry to get off the ground. Continue reading “New York Governor Vows to Unleash $1 Billion Cannabis Market”