Republicans have been conservative about cannabis. However, cannabis legalization is a popular discussion topic among Democrats. In the past, the bills and reforms were Democrats’ initiatives. Republicans oppose some of the reforms even in states where cannabis is legal. However, there could be some support from Republicans regarding marijuana.
In 2019, legal cannabis sales jumped 32% since 2018, Illinois became the first state to legalize cannabis via legislation and the U.S. House of Representatives passed the SAFE Banking Act, a first step toward opening banking services for the industry.
Of course, the news wasn’t all rosy. Stock prices fluctuated and a cash crunch hampered growth and expansion. New York and New Jersey failed to lift prohibition. But these can be viewed as growing pains for an emerging industry. As we head into 2020, here’s a look at what’s ahead for the industry.
Recreational marijuana use became legal in just one more state, Illinois, with the start of the New Year on Wednesday. More states could follow suit in 2020, with several states set to put recreational marijuana on the ballot. Cannabis is still considered an illegal substance at the federal level.
As California enters its third year of legal recreational cannabis sales, many expect upcoming new laws, high-profile court cases and major criminal justice reforms to shake up the industry.
Don't think for a second that just because many marijuana stocks performed miserably in 2019 that there weren't any big winners. One key to finding those winners is to focus on U.S.-based stocks rather than on the stocks of Canadian cannabis producers.
The three best U.S. marijuana stocks of 2019 delivered gains of 45% or more. Here's which stocks ranked at the top -- and whether they're smart picks to buy now.
Welcome to The Week in Weed’s look back at the news of 2019; whether the year has flown by or seemed to last forever, it’s (almost) over now. In tribute to Dave Barry and his always hilarious Year in Review, we’ll organize these stories by month.
Without further ado, here’s a look at the stories that grabbed our attention in 2019.
A marijuana lobbyist became the only statewide Democrat sworn into office. Smoking medical marijuana became legal in Florida. A new hemp program gave farmers statewide the optimism for a new cash crop. On the whole, 2019 proved to be a monumental year for cannabis in the state
In February, the state hired its first “cannabis czar,” in August the Miami-Dade State Attorney announced it will no longer prosecute minor marijuana cases and in October, two associates of Donald Trump’s personal attorney Rudy Giuliani sought pot licenses in the state.
Should that marijuana joint cost more because it is higher in THC content? That’s the argument put forth in a new report by the California Legislative Analyst’s Office.
Currently, the state taxes cannabis at two points in the production cycle; cannabis is taxed by weight after it is harvested, and then taxed again as an excise tax at the retail level. The state is set to increase cannabis taxes at both levels on Jan. 1, 2020.
The Secure and Fair Enforcement Banking (SAFE) Banking Act, which would enable financial institutions to openly serve the cannabis industry, has stalled out in the Senate, to the frustration of the marijuana industry in particular.
