In December 2019, the industry’s mood was cautiously optimistic. Although cannabis stocks had collapsed and capital dried up, there was reason for optimism: A dozen states had legalization bills on the docket, and the SAFE Banking Act seemed about to pass in Congress. A few months later, the coronavirus pandemic put almost all legislative efforts on hold, [...]
A new Congressional Research Service report says a “decline in U.S. demand for Mexican marijuana” is partly “due to legalized cannabis or medical cannabis in several U.S. states and Canada, reducing its value as part of Mexican trafficking organizations’ portfolio.”Marijuana Moment analyzed last week’s House of Representatives vote to protect state cannabis laws from federal interference, including an [...]
A Democratic senator filed a new bill to federally legalize marijuana on Thursday, creating yet another potential avenue through which Congress could enact the policy change. This piece of legislation, sponsored by Sen. Tina Smith (D-MN), would remove cannabis from the Controlled Substances Act and direct several federal agencies to develop regulations for the plant. [...]
American marijuana businesses could pump up to $130 billion on an annual basis into the U.S. economy by 2024, a staggering figure that highlights the true reach of the nation’s cannabis industry. Estimates published in the newly released Marijuana Business Factbook show the total economic impact of legal cannabis sales increasing from $38 billion-$46 billion in 2019 [...]
With revenue of $10.6 billion-$13 billion in 2019, sales of legal adult-use and medical marijuana in the United States topped spending on sleep aids, hard seltzer and toothpaste combined. Total marijuana sales now exceed the National Basketball Association’s annual U.S. revenue and, by 2024, could surpass Americans’ annual spending on craft beer. Read more via [...]
A key House committee has released a series reports for spending bills that include a wide range of marijuana-related provisions. In directing federal agencies to reconsider firing federal workers for state-legal consumption, promote research into cannabis and fund CBD regulations, the reports make clear that marijuana has become a mainstream issue that congressional leadership is [...]
Retail sales of medical and recreational cannabis in the United States are on pace to eclipse $15 billion by the end of 2020, an increase of approximately 40% over 2019 sales figures, according to exclusive projections from the 2020 edition of the Marijuana Business Factbook. Total U.S. sales could rise as high as $37 billion by [...]
A licensed cannabis business is expanding an outdoor growing operation across three acres of land on the Eastern Shore. Culta, a firm that holds growing, processing and dispensing licenses in Maryland, has invested about $6 million to triple its outdoor growing capacity. The expansion will build on the success of the smaller outdoor growing operation Culta piloted [...]
Culta, a provider of producer of cannabis flower and cannabis extracts and the East Coast’s first outdoor cultivator, continues to grow its outdoor footprint by expanding to 3 acres at its operation in Cambridge. With the success of its first harvest in 2019, Culta has invested more in innovative technology and expansion of its outdoor [...]
At the edge of the shadows of the Catoctin Mountains in Keymar, there stands a canopy of glass enclosing 17 acres of plants, protecting them from the cold air outside one afternoon in late February. Most of what was planted inside were flowers and annuals; for more than 35 years, Catoctin Mountain Growers has supplied [...]
