Business

Cannabis Business Year in Review

There have been a lot of ups and downs in the industry this year, some of the biggest yet. Here are some of the biggest moments from this past year!   Canada Legalizes Cannabis As MJ Biz Daily reminds us, Canada became one of the first countries to legalize cannabis.   Farm Bill Legalizes Hemp Another huge deal for cannabis was the legalization of hemp in the U.S. This will open tons of new doors for opportunity.   Cannabis Investments on the Rise There are now more than ever lots of companies investing in legal cannabis.   Some CBD Medicines Removed from Schedule 1 Status Slowly, the medicine many rely on is starting to be rescheduled and de-scheduled, so that people can gain access.   Cannabis Prices Lowered This may seem like a bad thing, but actually it means t...

Cannabis Industry Expert: 2018 Big, 2019 Could Be Bigger For Marijuana

As big as 2018 has been for marijuana, one industry expert said 2019 is likely to be even bigger. Over the past year, Michigan and Vermont legalized recreational marijuana use, and Utah and Missouri approved medical marijuana programs. And the entire nation of Canada decided to allow people to use cannabis. David Goldstein, with the cannabis information company Potbotics, said 2018 was a huge year for marijuana. He said 2019 could be even bigger. “What I would like to see in 2019 is a de-schedulization,” Goldstein said. “From a Schedule One drug that says marijuana has zero health benefits. To either a Schedule Two or a Schedule Three.” The federal government considers marijuana to be a Schedule One drug, the same category as heroin. Schedule One drugs have “no currently accepted medical u...

How Much Does Legalization Really Impact the Economy?

How Much Does Legalization Really Impact the Economy?   #Legalization #Economy #Cannabis #CannabisJobs #CannabisCareers #CannabisEconomy #MarijuanaLegalization #LegalWeed #420Jobs #MarijuanaTaxRevenue #Projections #Future #Canada #CanadaLegalizesCannabis   When it comes to legalization one of the biggest benefits that gains the attention of those who would normally be opponents of the cause is the potential for significant growth in the economy. With the creation of a new industry comes thousands of new jobs and thousands more in tax revenue – and with additional taxes on legal cannabis this makes the financial return even more. “If this is done right, regulated right, taxed right, this industry can bring real economic benefits to a state,” co-author of a study conduc...

CBD Loving Seniors Say Jeff Sessions is ‘Behind the Times’

CBD Loving Seniors Say Jeff Sessions is ‘Behind the Times’   Since the beginning of the year there has been some uncertainty throughout the nation as to what is going to happen between the state and federal governments when it comes to medical marijuana. Attorney General Jeff Sessions, who was appointed as a part of the Trump Administration and has been a very vocal cannabis prohibitionist since before being confirmed as Attorney General, finally made his first move towards attempting to reverse the progress made by individual states with the rescinding of the Cole Memo back in January. Needless to say, not many people were happy with this move – with activists, advocates, industry workers and entrepreneurs, and even congressman calling him out on his biggest mistake so far. By rescin...

Dispensaries Finally Opening Doors in Texas

Texas Made Their First Medical Marijuana Delivery and Dispensaries Will Open their Doors   In 2015, Texas legislature made a significant move forward when they passed the Texas Compassionate Use Act, which legalized the use of cannabidiol or CBD oil for those with intractable epilepsy. The law allows for in state cultivation of low-THC, high-CBD strains of cannabis (such as Charlotte’s Web or Harlequin), and the production and sale of CBD oil extracted from the plants. To qualify, patients must have approval from two Board-licensed physicians, and have documentation finding that two FDA approved treatments for their condition are not being effective. Now, a little over two years since the bill was signed into law, and about four months since three of the 43 submitted applications for ...

Will Shortage of Cannabis Shoot the Price Up For California’s Newly Legal Industry?

Will Shortage of Cannabis Shoot Price Up For California’s Newly Legal Industry? A little over a year ago California voters approved Proposition 64, making cannabis possession, use and cultivation legal for adults 21 and older. Twenty years after the state became the first to legalize medical marijuana back in 1996, voters finally ended the criminalization of cannabis as well. On January 1st this year the state opened up commercial sales to adult recreational consumers, and businesses who were thinking ahead stocked up for months in advance – others on the other hand did not and now they may see a shortage of product to sell. “What we have now is more and more dispensaries every week, but we have very few producers less than 10 percent in the state and I can speak to San Francisco les...

How CBD Could Improve Your Workout

How CBD Could Improve Your Workout   When you think of cannabidiol or CBD oil, you generally think of someone with a chronic condition like epilepsy or arthritis – but you may be surprised to find that adding CBD to your daily supplements could also improve the quality of your workout routine. From aiding in the better quality of sleep to fighting nausea and offering pain-relieving effects, CBD is becoming a popular supplement for those who exercise regularly. It’s ideal for anyone who wants to get all the natural pain-relieving effects of cannabis, without the associated high. CBD Relieves Pain and Inflammation For Seniors, CBD can be especially beneficial both pre- and post-workout as it can help to relieve the aches and pains associated with aging, making you more capable of enduri...

The REAL Reason Why Seniors Are Requesting CBD Oil…

Why Are So Many Seniors Are Requesting CBD Oil?   Concern about side effects of narcotics and interest in more legal medical choices are leading to more seniors looking into cannabis options. According to the National Survey of Drug Use and Health, between 2011-14 in Washington state, the number of people who have used cannabis over the age of 65 increased from 0.9 percent to 2.4 percent. At Cannabis & Glass, a Spokane retailer, none of the senior customers interviewed wanted to comment due to concerns about marijuana’s lingering social stigma and the current political climate. However the store staff said business from people in their 60s, 70s continues to grow. “I have a 93-year-old customer that comes in a couple times a week,” said budtender Jacob Falconer. “She uses it for he...

Washington State Leaders are “Not Messing Around,” Considering their Legal Options Against Sessions “Crackdown” on Cannabis

Washington State Leaders are “Not Messing Around,” Considering their Legal Options Against Sessions “Crackdown” on Cannabis   “We always knew this was possible,” Washington Attorney General Bob Ferguson said. “We’re not messing around.” Last week something the cannabis industry has been on edge about for months finally happened. Attorney General Jeff Sessions rescinded the memos that served as Obama-era federal policies on marijuana laws – giving U.S. attorney’s the green light to prosecute marijuana related cases as they see fit, regardless of state laws. Previously, if a business was compliant with state law, the federal government was taking a hands-off approach. Sessions has been out for the cannabis industry since taking his seat as the Attorney General last year. However, after ...

Insurance Can Be Up To Five Times Higher For Medical Marijuana Patients

Health insurance is daunting enough as it is. But does consuming cannabis play a part in your premiums? Here’s what we know. Cannabis consumers continue to suffer for their lifestyle choices—even when buying insurance. Marijuana sales taxes have risen in states with legalized marijuana and insurance can be up to five times higher for pot smokers. But why should insurance companies expect pot smokers to pay more for the same services as their non-pot smoking counterparts? Higher Prices for Higher People Depending on your provider, a policy can be up to five times higher for cannabis users. Certain companies will treat anyone that consumes medical or recreational marijuana like cigarette smokers. The reason insurance companies charge cigarette smokers much more than their non-smoking counter...

Home-Based Pot Parties for Adults/Seniors on the Rise

Remember Tupperware parties? Ask your grandmothers. Initially created to share cooking and food storage ideas, they ended up being social networks for women. Brownie Wise, a post-war feminist and the first woman to appear on the cover of Business Week in 1954, started hosting them after her husband abandoned her and their child. Now, California seniors are getting together in much the same atmosphere in their own retirement communities. Considering their ages, some may have once hosted a Tupperware party! Baby boomers are one of the fastest growing age groups to embrace marijuana. A recent study done by New York University found a 71 percent increase in marijuana use among adults aged 50 years and older in the last decade. Octavia Wellness, a San Francisco-based startup, is catering to the...

CBD Market Expected To Reach $2.1 Billion By 2020

CBD Market Expected To Reach $2.1 Billion By 2020 The legal cannabis industry is rapidly expanding, and despite some of the unwarranted controversy clouding the market, it’s being viewed with more legitimacy than ever before. However, there’s one niche within the cannabis industry that’s projected to do especially well over the next couple of years—the widely untapped CBD market. CBD Market Expected To Explode Due to the increasing legality of medical marijuana, the medical cannabis market is expected to have the highest ceiling, in terms of investing. According to Grand View Research, the worldwide medical cannabis market is projected to exceed $55.8 billion by 2025. As a result, the CBD market is expected to explode. The Hemp Business Journal has estimated that the CBD market could reach...

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