Business

The Importance Of Compliant Cannabis Banking

Thirty-three states and the District of Columbia have legalized the sale or use of cannabis. Yet, the federal government is struggling to keep up, and cannabis legislation has been stagnant. As a result, there is no safe harbor in the cannabis industry, meaning there is no legislation that assures the safety of banking cannabis. So, many who enter the cannabis industry have preferred stealthier ways of banking. While banking workarounds to open, or compliant, banking may work, they come at a cost.

4 Cannabis Stocks Poised to Profit From Legalization Votes

Marijuana legalization initiatives will be on the ballot in a number of states in November.

Though there's no end in sight for the coronavirus pandemic, in some ways, life goes on somewhat as usual. The U.S. presidential election is coming up in less than three months, and beyond the presidential and legislative races, the question of state-level marijuana legalization is on the agenda again.

Here's How Millennials And Boomers Differ On Cannabis Use

Both millennials and boomers have been smoking and spending more on cannabis since the outbreak of the coronavirus.

Baby boomers and millennials can’t agree on anything: the economy, social values, and smoking cannabis. Not whether or not they should consume the plant — boomers now smoke more cannabis than high schoolers — but how, when and where and everything in between.

2020 could still be a big year for cannabis legalization

Nothing in 2020 has gone according to plan, and cannabis legalization is no exception. According to Vox's criminal justice and public health reporter German Lopez, at least 18 states were predicted to legalize cannabis to some degree this year, either through their legislatures or via ballot measure. 2020 was supposed to be a big year for cannabis legalization. 

And then COVID-19 happened. 

Legal Cannabis Provides A Bright Spot In A Bleak Economy

The pandemic has hobbled entire sectors of the economy but the cannabis industry is surviving, even thriving. Sales are up as consumers turn to marijuana for stress relief and recreation. Companies in the industry are making those sales easier and safer with online ordering to reduce contact between retailers and customers. There are even a variety of new products for consumers to try.

5 Clever Ways Cannabis Brands Can Bypass Ad Restrictions

With new legalization measures moving forward and consumption on the rise, it's clear that cannabis continues to go mainstream. But cannabis business owners still face an uphill battle when it comes to brand awareness and customer outreach. Why? Draconian advertising restrictions.

In addition to limitations or outright bans on TV, radio, and print advertising, cannabis businesses are, for the most part, locked out of online advertising, with Facebook, Instagram, Google, and YouTube all prohibiting cannabis ads on their platforms. 

But all is not entirely lost. 

How Legalizing Cannabis Can Bring Back the Right Kind of Tourism

The early film star, Mae West, said, "Too much of a good thing can be wonderful." Obviously, she wasn't talking about tourism. Before the pandemic, many of Europe's major cities were choking on crowds. Venice probably had the worst of it, with gigantic cruise ships sailing up the Grand Canal disgorging thousands of tourists all at once into the narrow already overcrowded sidewalks. And Barcelona's La Rambla had become crushed that they had to ban tour groups from the Mercado.

Illinois recreational marijuana sales reached almost $61 million in July, setting a record for the third month in a row

Illinois marijuana shops sold almost $61 million in recreational weed in July, beating the previous record set in June by $13.4 million.

In all, dispensaries have sold about $300.1 million in recreational marijuana since sales started in Illinois Jan. 1.

The sales figures have set new records every month since May. July’s sales were a 75% increase over February, the month with the lowest sales at $34.8 million.

Covid-19 Is Helping Make 2020 A Record Year For Cannabis Sales

While the COVID-19 pandemic has damaged a wide range of industries around the world, it looks like cannabis might not be one of them. An industry white paper last week shows that the cannabis industry’s 2020 growth is currently outpacing that of 2019. Hiring for cannabis companies os also already on the rebound, and retailers are actually purchasing more product from companies than they were prior to the pandemic.