marijuana business Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

South Dakota medical marijuana businesses are facing a $3,690 fee increase

Medical marijuana businesses in South Dakota will soon face a nearly 70% increase in their annual state registration fees, rising from $5,310 to $9,000. “For a business-friendly state, this is not a business-friendly approach,” said Deb Peters, president of the…

Kentucky to open applications for the state’s medical marijuana business

Businesses that want to sell, process or grow medical marijuana for Kentucky can start applying for permits starting Monday, part of an accelerated push to have products available in early 2025, Gov. Andy Beshear said Thursday. Doctors and advanced practice…

Colorado falling behind marijuana enforcement goals

Colorado’s auditor recently released a performance audit that revealed the state is not meeting its goals in marijuana enforcement. The report from the Office of the State Auditor states that the Marijuana Enforcement Division “could improve its processes for prioritizing retail marijuana store…

Cannabis businesses boom in Maine, but access to banking’s a bust

August 7, 2023
AggregatedNews
Maine
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Every few weeks, Steve Rusnack fills up his gas tank and sets off for the roughly 500-mile round trip between his cannabis shop in Fort Kent and his bank in Augusta. He isn’t crazy about the nearly 10-hour trek, especially…

Missouri

A new Missouri law might make it easier to get a marijuana business loan. Here’s how

Missouri Gov. Mike Parson recently signed a new law that will make it easier for some banks to grant loans to marijuana businesses. The new law will also require those businesses to submit fingerprints for all marijuana company employees to…

Why weed companies can’t make any money

September 5, 2022
AggregatedNews
Federal
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It’s not easy selling weed. The legal marijuana business is booming — revenues are projected to hit $32 billion this year, more than double what sales were just three years ago. They’re projected to double again in the next six years,…

New York’s Convicts-First Approach to Pot Draws Praise, Questions

A criminal record doesn't always hurt New York state’s plan to let people with past convictions for marijuana crimes become the first to sell it legally is admirable, but faces some major challenges. The dynamic pits what’s now referred to as the “legacy…

Black entrepreneurs in Missouri are shut out of the medical marijuana business

January 26, 2022
AggregatedNews
Missouri
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Black entrepreneurs are being left out of the booming medical marijuana business in Missouri. And the state is losing some of its brightest entrepreneurial minds as a result. But an initiative to place recreational pot on the ballot in November…

Marijuana license winners in Illinois now compete in ‘Shark Tank’-like scramble to get startup cash

September 20, 2021
AggregatedNews
Illinois
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In the recent competition for cannabis business licenses in Illinois, Ambrose Jackson’s team struck gold. They won rights to both grow and sell their own cannabis. Jackson is quitting his health care management job to commit full time to becoming…

Lawsuit Targets Residency Requirement For Missouri Medical Marijuana Licenses

December 16, 2020
AggregatedNews
Missouri
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A federal lawsuit filed last week seeks to strike down a Missouri requirement that medical marijuana licenses go to businesses owned by residents of the state. A constitutional amendment approved by voters in 2018 that legalized medical marijuana requires facilities to…

Jay-Z launches Monogram, his own cannabis line

Jay-Z is growing his empire. The 50-year-old rapper and music mogul announced Friday that he is launching his first line of cannabis in a joint venture with Caliva, a California-based weed company. The rapper, whose real name is Shawn Carter,…

A prior marijuana conviction could be a good thing for owners of Michigan pot businesses

A previous marijuana-related conviction could help entrepreneurs hoping to open a recreational marijuana business in Michigan. Michigan officials are trying to attract a wider variety of businesses to the booming recreational marijuana industry, not just those with deep pockets. The…

Slow Going For Efforts To Diversify The Massachusetts Marijuana Industry

One big complaint about Massachusetts' legal marijuana industry: Who is getting all those profits? Efforts to change have been slow moving. Opening today, in Boston, is the first marijuana business in the state to apply through what's called the social…

Who’s profiting off the millions that Illinois’ marijuana business is bringing in? State officials are keeping that secret.

Marijuana entrepreneurs are starting to rake in millions of dollars a month in Illinois as customers line up to buy newly legal weed, but who’s profiting from those sales remains secret. Regulators say state law bars the release of almost…

10 Michigan communities will vote whether to ban or allow marijuana business

November 5, 2019
AggregatedNews
Michigan
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Municipalities across Michigan on Tuesday, Nov. 5, are expected to vote on whether to ban, allow or limit recreational marijuana business within their borders. Michigan voters in November 2018, by a 56%-44% margin, voted in favor of legalizing recreational marijuana…

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