A new report projects that the global recreational marijuana market will nearly double over the next four years, with legal sales of adult-use cannabis climbing to almost $50 billion per year by 2027. The report, from U.K.-based cannabis data, media and tech company Prohibition Partners, credits global momentum in cannabis […]
Yearly Archives: 2023
215 posts
A recent paper published in PNAS Nexus provides an in-depth review of the effects of the War on Drugs on people of color, the disproportionate ownership of cannabis businesses in today’s industry and how this affects cannabis research data, and recommendations to achieve inclusivity and improve representation. Entitled “Effects of […]
Sales of cannabis in Arizona have exceeded $1 billion this year, according to data from the state Department of Revenue. Total marijuana sales eclipsed the billion-dollar mark in September, marking the third straight year the state’s weed sales have reached the seven-digit milestone. So far this year, Arizona’s sales of […]
The popularity of CBD and other hemp-derived compounds continues to surge in terms of sales. A new report predicts that the CBD market is poised to surpass $36 billion dollars by 2033. According to market.us, the global Cannabidiol Market Size was valued at $7.6 billion in 2023 and is predicted […]
Oregon cannabis producers grew too much weed again this year, according to a new report, continuing the glut of marijuana that has plagued the state’s regulated pot industry for years. For much of this year, analysis of Oregon’s production of cannabis showed that the state was on a downward trend […]
The day before Thanksgiving, often referred to as “Green Wednesday” in the cannabis industry, saw a record number of sales once again. According to data collected by Jane Technologies, recreational sales on Nov. 22 reached $9,209,061.73—an 18.12% increase from Green Friday sales data in 2022, which landed at $7,795,803,80 last […]
A group of Democratic lawmakers has written a letter to federal financial regulators calling on them to update rules that hinder cannabis business owners with past convictions for marijuana-related crimes. In the letter to the Treasury Department, 20 Democratic Senators and members of the House of Representatives wrote that the […]
A report, issued on Tuesday by Bianchi & Brandt, “assesses the current mergers and acquisitions environment, reflects on the impact of regulatory changes to federal legality—including access to traditional banking—and takes a deep look at the viability of U.S. cannabis operators and global investors who are fueling the industry,” the […]
Diversity among cannabis executives has returned to pre-pandemic levels. At least, that’s according to a new study, which combined surveys and data reports, and found that, as of today, around 39% of business owners in the industry are women, while some 24% are racial minorities – a step up from […]
A handful of cannabis companies recently initiated a lawsuit with U.S. Attorney General Merrick Garland regarding the negative effects of federal prohibition, which hinders their business. According to the plaintiffs, which includes Massachusetts-based Canna Provisions Inc., Wiseacre Farm, Inc., and Gyasi Sellers, and Illinois-based Verano Holdings Corp., the Controlled Substances […]
After nearly a decade of conversation and education on the Hill, the Senate Banking, Housing and Urban Affairs Committee finally held a markup on the Secure and Fair Regulation (SAFER) Banking Act. Previously known as the SAFE Banking Act, the “R” was included to account for Sen. Jack Reed’s (D-RI) […]
Two cannabis industry groups in Oregon have decided to join forces in a merger that comes amid a downturn in the state’s market for legal marijuana. The two groups, the Oregon Cannabis Association and the Cannabis Industry Alliance of Oregon, announced the merger last week following unanimous votes by the […]