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U.S. Cannabis Sales Beat Out Starbucks
Starbucks (SBUX) may need to put a store on every corner in the U.S. if it wants to keep up with legal cannabis in the country. A recent report by MJBizDaily showed that U.S. cannabis sales outpaced Starbucks North American sales by at least a third, even though coffee can be sold in all 50 states. By contrast, only 39 states and the District of Columbia have legalized some form of cannabis. Read this full story >
Featured Cannabis News
CBA Wants To Stop Cannabis-Infused Copycat Foods
The Consumer Brands Association (CBA), which represents more than a dozen companies and industry trade associations, sent a letter to Congress asking them to stop cannabis-infused copycat foods. The letter stated that the misleading packaging of cannabis products modeled in…
Legal Cannabis Leads To Less Impaired Driving
According to a new study, states that have legalized cannabis have seen fewer instances of impaired driving. The analysis of self-reported driving under the influence of cannabis (DUIC) found that people are less likely to drive within three hours of…
New Polls Show Americans Back Cannabis Legalization
A pair of new polls show that cannabis legalization enjoys majority, bipartisan support – with most Americans also saying they’d be more likely to support politicians that back reform. The market research firm SSRS found that 69% of Americans back…
Biden Grants Clemency For Cannabis Charges
President Joe Biden finally acted on one of his campaign policies by issuing three pardons and commuting the sentences of 75 individuals who were previously released to home confinement amid the coronavirus pandemic. This marks the first clemency action from…
Arizona Collects $6.3 Million In Cannabis Taxes
Arizona just released data showing that the state generated more tax revenue from legal cannabis sales than it did from tobacco and alcohol sales. According to the Arizona Joint Legislative Budget Committee (JLBC), tax deposits to the state general fund…
Cresco Labs Seeks $38 Million In Tax Breaks
According to local media reports, Cresco labs Inc. (CRLBF) is seeking a $38 million tax break from Ulster County, New York, where it has plans to build a cannabis production and manufacturing site. The tax breaks include $28 million in…
New Jersey Kicks Off Recreational Cannabis Market
New Jersey officially opened its doors to recreational cannabis on 4/21/2022, potentially raising over 2 billion dollars in revenue. Recreational marijuana sales in the state are expected to rise from $625 million – $775 million in 2022 to $2 billion…
New Cannabis ETF Offers Global Exposure
Roundhill Investments has launched the Roundhill Cannabis ETF (“WEED ETF”) on the Cboe BZX Exchange. The WEED ETF seeks to expose investors to a growing global cannabis sector, including U.S. multi-state operators (“MSOs”). “While publicly-listed cannabis companies have recently underperformed,…
Ben & Jerry’s Fed Up With Cannabis Legalization
Ice cream giant Ben & Jerry’s is fed up with the Senate’s inaction on legalization and is calling out senators for failing to advance reform. In the run-up to the unofficial cannabis holiday 4/20 on Wednesday, the company is launching…
