Month: June 2020

How to survive in California’s cannabis market

Experts agree the California recreational marijuana market is extremely challenging because of high tax rates, huge illicit production and consumption as well as an uncertain economy amid the coronavirus pandemic. But while much of this is unfair to legal marijuana business owners, one also must keep things in perspective: California is a new market with […]

New Jersey is key to East Coast adult-use cannabis legalization, MJBizConNEXT experts say

New Jersey is the “linchpin” for coming recreational marijuana legalization on the East Coast, a panel of industry experts said Tuesday on the second day of MJBizConNEXT Direct, Marijuana Business Daily‘s three-day virtual cannabis business conference. Panelist Rob DiPisa, partner and co-chair of cannabis law group Cole Schotz, called New Jersey a “hot market” that […]

Second medical marijuana provider in Louisiana poised to roll out products

Only two entities in Louisiana – both colleges – are authorized to produce medical marijuana for patients, and Southern University on Wednesday is expected to join Louisiana State in rolling out its first product line. Southern’s product debut is also an industry landmark because the Baton Rouge university is the only historically Black college in […]

Illinois delays awarding 80 cannabis business permits

The governor of Illinois on Monday signed an executive order delaying the issuance of 80-plus marijuana business permits that were scheduled to be awarded on July 1, and now it’s unclear when the licenses might be granted. According to the Chicago Tribune, Illinois Gov. J.B. Pritzker’s order delays indefinitely 40 new craft cultivation permits, 40 […]

US retail marijuana sales on pace to rise 40% in 2020, near $37 billion by 2023

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 […]

California marijuana regulators extend license fee deferrals due to the coronavirus

The trio of regulatory agencies that oversee California’s marijuana industry announced Monday that they’re again offering license fee payment deferrals for up to 60 days – this time for business permits that are expiring in July and August. The announcement was made by the California Bureau of Cannabis Control, which oversees most MJ companies, in […]

MJBizConNEXT keynoter Simms urges cannabis industry to ‘be audacious’

MJBizConNEXT Direct and Hemp Industry Daily Direct kicked off today with a virtual keynote speech from Dia Simms, an award-winning entrepreneur and member of BRN Group, a New York-based cannabis tech company. Simms called on the cannabis industry to move in unison to overcome over a century of stigma, to think bigger and to consider […]

East Fork Cultivars leverages partnerships, new retail presence to increase exposure, footprint

East Fork Cultivars began by growing hemp in Oregon; today, the company also cultivates CBD-rich marijuana. (Photo by Olivia Ashton) (This is an abridged version of a column that appears in the May-June issue of Marijuana Business Magazine.) While still fairly small, East Fork Cultivars has become one of the most respected cannabis cultivators in the […]