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The Czech government has released details of new cultivation and export rules expected to be introduced in the country’s medical cannabis sector. The new rules will stem from a Bill aimed at reforming the Czech Republic’s Act on Addictive Substances.

California’s legal marijuana industry faces a year of declining sales as a result of the pandemic-induced recession despite an initial spike in consumer demand after dispensaries were deemed essential businesses, according to details outlined in Gov. Gavin Newsom’s proposed budget.

Newsom projected in January that the state’s cannabis excise tax would bring in $479 million this year and $590 million in the fiscal year starting July 1, but his revised budget now forecasts just $443 million this year and a decline to $435 million next year.

Starting June 2, patients previously tied to one provider can purchase medical cannabis from any dispensary in the state.

New opportunities emerge for cannabis retailers.

With the progressive legalization of cannabis in the USA, eCommerce platforms are set to expand — offering opportunities for cannabis retailers. If at first, cannabis and eCommerce didn’t work in pair, the current demand for legal cannabis products (THC and CBD) have set a new dynamic for retailers. And despite a pandemic, the industry is set to create 340,000 jobs within the next 4 years.

• Despite a tough year for the industry, followed by the bigger economic downturn as a result of the coronavirus pandemic, analysts said they're optimistic about the cannabis market today.
• According to Michael Lavery of Piper Sandler, companies have had time to prove themselves and investors have a better idea of how they think the space will play out.
• Cowen's Vivien Azer said that the industry is seeing more institutional interest as a result and that she sees that interest tending to favor the operators that are already profitable.
• Analysts pointed to so

Researchers in the U.S. state of Florida are studying how hemp plants could help in the battle against toxic algae, a persistent problem at the state’s two coasts.

Steven Edmonds, founder of Hemp4Water and a political science instructor at Valencia College in Orlando, has teamed up with researchers from Florida State College on the initiative. The group said it will test grow hemp mats in Florida waterways to check their potential to clear nutrient pollution that feeds toxic blue-green algae and red tide algae.

The industry is now in a situation where tens of companies are fighting for a much smaller pie than forecasted

Some of the biggest cannabis players when legalization took effect 20 months ago have successfully held on to their dominant positions, despite a year of bankruptcies, downsizings, revoked licences, executive firings, mass layoffs and a long market selloff. 

Canopy Growth’s (WEED.TO)(CGC) chief executive officer expects the United States cannabis market to open up at the federal level as early as 2022 as pressure builds from state governments embracing recreational pot sales.