This story was republished with permission from Crain’s Chicago. Statewide marijuana sales revenue in Illinois dropped 2% in September, the first year-over-year decline since recreational cannabis became legal in the state four years ago. Sales totaled $136.5 million last month, down from $139.5 million a year ago and $147.4 million in August, according to state figures.... Continue Reading →

Kentucky regulators have green lit comprehensive regulations for the state’s medical cannabis market, paving the way for the program’s anticipated January launch. The statehouse’s Administrative Regulation Review Subcommittee on Wednesday signed off on rules establishing application and licensing fees, as well as other requirements for medical cannabis businesses, according to Kentucky Today. Under the approved... Continue Reading →

Connecticut cannabis sales take 12 percent hit in September Image Cannabis News October 17, 2024 Cannabis sales in Connecticut took a 12 percent hit in September from the previous month, according to state data. A decrease in the average price per gram and in the total number of cannabis products sold in Connecticut pushed total... Continue Reading →

Governor of DE signs bill protecting banks that work in cannabis industry Image Cannabis News October 17, 2024 The governor of Delaware has signed a bill to enact state-level protections for banks that provide services to licensed marijuana businesses. As the state gears up for the launch of its adult-use cannabis market, Gov. John Carney... Continue Reading →

Alabama Cannabis Commission in court to discuss lawsuits stopping the industry Image Cannabis News October 17, 2024 On Wednesday, the legal battle continued in Alabama, as the Cannabis Commission is still facing a slew of lawsuits criticizing its handling of business license issuance. The medical cannabis industry in Alabama hasn't started yet precisely because of... Continue Reading →

The U.S. cannabis industry is poised for massive expansion over the next decade, which will require big money – as $130.7 billion – to fund it, according to a new industry report. But absent federal banking legislation and greater institutional involvement, the odds a sustainable source of capital panning out are slim. The study, conducted... Continue Reading →

The Daily Hit is a recap of the top financial news stories for Wednesday, October 16, 2024. On the Site Judge gives initial OK to $8M Aurora Cannabis class-action settlement The suit accused Aurora of engaging in a $21.7 million “round-trip sale” to artificially juice its numbers. Read more here. California revokes cannabis license of... Continue Reading →

“I’m not being cute here. We don’t have oversight. We have no way of really knowing what goes on over there.” By Gintautas Dumcius and Bhaamati Borkhetaria, CommonWealth Beacon Massachusetts Treasurer Deborah Goldberg (D) plans to begin a search for a new chair at the Cannabis Control Commission, but raised a concern about finding quality... Continue Reading →

The California Department of Cannabis Control revoked the license of K.U.S.H. Collective for engaging in “activity that poses harm to public health, safety or welfare,” the agency said in a letter to the company’s owners. The license revocation is effective as of Oct. 15. In addition, the DCC issued an embargo for all products manufactured... Continue Reading →