President Donald Trump signaled he may ignore a congressional ban on interfering with state medical marijuana laws, arguing in a lengthy statement that he isn’t legally bound by a series of limits lawmakers imposed on him.
Steve Bell, a senior adviser at the Bipartisan Policy Center in Washington, said Trump’s signing statement signaled a desire to usurp power from the legislative branch.
“It is the constitutional prerogative of the Congress to spend money and to put limitations on spending,” Bell, a former staff director of the Senate Budget Committee and an aide to former Republican Senator Pete Domenici of New Mexico, said by phone. “This is an extremely broad assertion of executive branch power over the purse.”
Most business owners in the cannabis industry are missing out on a huge opportunity to scale growth, decrease advertising costs, and reach more customers. What’s that opportunity, you ask? Social media. It’s time that we get real, many cannabis dispensaries are failing in their social media endeavors. But the good news is — you don’t have to.
Source: Why So Many Dispensaries Are Failing at Social Media 420intel
The Washington, D.C. cannabis analytics firm found that in 2016, medical consumers shopped for cannabis every 10 days, spending an average of $136 per transaction. Adult use consumers shopped every 14 days and spent an average of $49 per transaction.
Medical marijuana sales are projected to reach $5.3 billion in 2017 and account for 67 percent of total cannabis sales. By 2025, medical marijuana sales will grow to $13.2 billion and account for 55 percent of all legal cannabis sales. Adult use sales are projected by reach $2.6 billion in 2017 before growing to $10.9 billion by 2025.
The scene in Michigan highlights how more established industries will likely insert themselves into the legalization process to gain a foothold in the multibillion-dollar cannabis industry.
Read more from the Source: Alcohol, tobacco interests eyeing Michigan marijuana market – Marijuana Business Daily
Politically connected developer Jay Odom is suing his partners in a state-licensed medical marijuana dispensary over a pending sale to a new operator out of Canada.
Read More from the Source: Partners of Florida medical marijuana grower fight in court over pending sale | Miami Herald
Legal weed in North America is expected to reach $22.6 billion in revenue in 2021. But many won’t be spending their money on marijuana the way they do today.
Recreational cannabis spending is expected to outpace medical marijuana sales for the first time in 2019, according to a comprehensive new report from Arcview Market Research.
While recreational consumers will be spending more than medical patients, they will also be paying more in taxes. Currently, recreational shoppers in Colorado can expect to pay between 15% and 20% more than medical patients do. The state places a 2.9% sales tax (plus local taxes) on both varieties of marijuana, but it waives the 10% state marijuana tax for patients. Often, dispensaries also offer big discounts for medical patients.
When California rolls outs its recreational market in 2018, the state will impose a 15% tax on sales of the drug, but only non-medical users will have to pay it.
While many patients, will continue to seek the discounts or lower prices offered by a medical market, the ease of recreational purchases will become more appealing to many. Currently, the medical industry limits patient access to “qualified” conditions, requires patients to register and in some states, limit the amount or types of medication a patient can purchase.
Many wil likely pursue recreational purchases, although the momentum to maintain a medical market will be largely based on interest in research, development and the quality of product provided to patients vs recreational consumers.
Oakland ramped up its counterattack to the U.S. war on drugs on Tuesday, expanding a one-of-a-kind program to help people jailed for marijuana crimes enter the booming cannabis industry.
Fast Company explains the future of work is all about expanding our minds.
The Colorado Department of Public Health and Environment (CDPHE) has issued an 80-page report intended to help marijuana businesses identify health and safety hazards that could exist in their workplaces and “provide a starting point for the assessment and evaluation of occupational health hazards.”
Read more from the Source: Colorado issues safety guidelines for marijuana businesses – Marijuana Business Daily