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Marijuana Legalization Could Be Coming To These States In 2020

This year has been momentous for cannabis reform, from the Illinois General Assembly becoming the first state legislature to pass a bill to regulate cannabis like alcohol to the U.S. House of Representatives passing the SAFE Banking Act and forging ahead with the MORE Act. 

It’s important to celebrate these victories, but with the end of 2019 comes the beginning of 2020, which is already shaping up to be the biggest year ever for marijuana-policy reform. 

Hemp sales could increase $100 million by 2022, USDA predicts

U.S. hemp sales could increase as much as $25 million in 2020 and by more than $100 million by 2022, according to new estimates by the U.S. Department of Agriculture (USDA).

hemp

These estimates are some of the figures outlined in Hemp Industry Daily’s new special report, “USDA Hemp Rules: A Handbook for Hemp & CBD Businesses.”

In one year, Canadians spent $908M on legal cannabis

OTTAWA - Canadians spent about $908 million on non-medical cannabis in the first year since legalization, but online sales dropped as more brick-and-mortar locations opened, said Statistics Canada.

Canadians spent $907,833,000 on non-medical cannabis between October 2018 and September 2019, the agency said, which works out to $24 per capita.

Canada legalized cannabis on Oct. 17, 2018, becoming the second country in the world — after Uruguay — to legalize the drug. Demand initially appeared to outstrip supply as retailers warned of a pending shortfall of product.

Federal Marijuana Legalization Is A Lock – But How, When?

If you listen carefully, you will hear the sound of a crooked foundation known as marijuana prohibition starting to crumble in the United States. It has been more than eight decades since the federal government outlawed the cannabis plant nationwide, and yet, here we are finally standing on its lawn with torches in hand waiting for a day of reckoning.

2020 Financial Trends for the Cannabis Industry

The past year has been another strong year in cannabis. Investors continued to pour money into the burgeoning industry — surpassing 2018 investment totals in just 40 weeks — and new markets opened up for recreational and medical cannabis. And following the passage of the 2018 Farm Bill, CBD has proliferated and become one of the hottest health supplements in the country.

3 Scenarios for U.S. Marijuana Legalization by 2021

Don't totally write off the chances that the MORE Act or similar legislation could become law in the not-too-distant future.

Arguably the biggest legislative milestone to date related to the legalization of marijuana in the U.S. was achieved two weeks ago. The U.S. House of Representatives Judiciary Committee voted 24 to 10 to pass the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, a bill that would legalize marijuana at the federal level.

Marijuana Stock Canopy Growth Is Soaring Because It Finally Has a New CEO

Shares soar 13% as CFO of Canopy’s biggest shareholder takes the helm

Canopy Growth Corp. said Monday it has named David Klein, currently chief financial officer at its biggest shareholder, Constellation Brands Inc., as its new chief executive, taking over from Mark Zekulin on January 14.

The news sent the U.S.-listed shares up about 13%.

Hemp-Based CBD Oil Won't Diminish THC's Popularity, Analysts Predict

Cannabis producers need not fret about hemp-based cannabidiol (CBD) products overshadowing demand for THC-oriented products, according to a leading cannabis industry think tank. 

Despite the recent surge of CBD oil sales since hemp's legalization under the 2018 Farm Bill, its growth is expected to be limited compared with CBD products containing at least a small amount of THC.

Here's How Many Banks Provide Financial Services to the U.S. Marijuana Industry

There's little question that the legal cannabis industry could be a giant. Every year, tens of billions of dollars of marijuana is sold in the black market, so we know that consumer demand for the product is strong. Assuming cannabis legalization continues throughout North America, Wall Street's varied prognostications of $50 billion to $200 billion in worldwide weed sales by 2030 could very well prove accurate.