US cannabis industry’s economic impact could hit $130 billion by 2024

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 [...]

By | July 21st, 2020|Uncategorized|0 Comments

Retail cannabis sales surpass NBA revenue, approach prescription pain meds

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 [...]

By | July 14th, 2020|Uncategorized|0 Comments

Reconsider Firing Workers For Marijuana, Congress Tells Federal Agencies

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 [...]

By | July 14th, 2020|Uncategorized|0 Comments

US Retail Cannabis Sales On Pace To Rise 40 Percent, Eclipsing $15 Billion In 2020

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 [...]

By | July 1st, 2020|Uncategorized|0 Comments

Maryland cannabis firm invests $6M to expand outdoor growing facility

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 [...]

By | June 22nd, 2020|Uncategorized|0 Comments

Culta expands medical marijuana business in Cambridge

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 [...]

By | June 15th, 2020|Uncategorized|0 Comments

The other cannabis crop: Carroll County farmers test out growing logistics, market for newly legal hemp

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 [...]

By | June 12th, 2020|Uncategorized|0 Comments

One Md. cannabis dispensary license may go back up for grabs

Cannabis regulators originally gave 102 local businesses preliminary clearance to open up medical cannabis dispensaries in Maryland. But after one of those companies failed to meet a critical deadline, there is one license in limbo. LinLar LLC was among a handful of dispensary business entities that had earned preliminary operating licenses back in 2016, but [...]

By | June 11th, 2020|Uncategorized|0 Comments

COVID-19’s Surprising Impact on Cannabis Sales

For the past couple of months, the coronavirus disease 2019 (COVID-19) pandemic has wreaked havoc on the U.S. and global economy. In the U.S., more than 39 million people have filed an initial jobless claim within the past nine weeks, while the unemployment rate in India has increased from 8.7% in March to more than [...]

By | May 28th, 2020|Uncategorized|0 Comments

Will States Impacted By Coronavirus Turn To Marijuana Legalization?

States still searching for the best path forward in balancing economic and health concerns amid the continuing coronavirus outbreak also face another challenge once businesses reopen: recovering billions lost in state tax revenue, as well as millions of lost jobs. In the long term, marijuana legalization might provide an answer. Even in historically conservative Texas, [...]

By | May 21st, 2020|Uncategorized|0 Comments