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Cannabis Business Times Newsletter
Cannabis Business Times Newsletter

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Cannabis Business Times

Heart of the Learner Helps Create Vibe at Stability

‘No Jerks’: How Stability Cannabis Promotes a Culture of Inclusion

‘No Jerks’: How Stability Cannabis Promotes a Culture of Inclusion

Oklahoma City’s Stability Cannabis has grown quickly, thanks to a focus on employee retention and fun.

Purchasing Patterns

Does Cannabis Market Maturity Impact Product Selection?

2020 sales trends reveal consumer preferences across the new to seasoned cannabis adult-use markets of Michigan, Massachusetts and Oregon.

Regulators, Prospective Businesses Get The Thumbs Up

New Jersey Will See More Medical Cannabis Dispensary Licenses After Appeals Court Ruling

The court also insisted that the New Jersey Department of Health clean up its licensing process and take a more transparent approach to the work.

Two New Team Members

Cannabis Business Times, Cannabis Dispensary, Hemp Grower Announce New Hires Anthony Lange and Andriana Ruscitto

Lange is serving as Associate Editor and Ruscitto is serving as Assistant Editor for the three GIE Media award-winning publications.

Transcontinental Tie-Up

HEXO Corp. Picks Up Zenabis Global Inc. in $235-Million Deal

HEXO Corp. announced its acquisition of Zenabis Global Inc. earlier this week, a major headline that sees the Canadian licensed producer planting a flag in Europe’s cannabis market.

Legalization is Only Half the Battle

Colorado and Washington were the guinea pigs for adult-use cannabis legalization following the passage of Amendment 64 and Initiative 502 in 2012.

In Colorado, specifically, implementation did not take hold until two years later, when sales reached $683.5 million in 2014. As Assistant Editor Andriana Ruscitto wrote earlier this month, Colorado cannabis sales were approaching the $10 billion benchmark after a record $2.2 billion in sales in 2020.

While adult-use cannabis offers a revenue stream for local governments, multiple business opportunities for entrepreneurs and products that consumers desire, legalization is only half the battle. Implementation strategies are key to successful markets, which was iterated by South Dakota Gov. Kristi Noem in her announcement last week to kick a voter-approved medical cannabis measure down the road, and also to kick a voter-approved adult-use amendment down the road even further.

That decision came after industry experts from Cannabis Public Policy Consulting said an effective, sustainable and functioning medical cannabis system takes 14 to 20 months to implement, and that no state has ever implemented both medical and adult-use programs simultaneously.

Meanwhile, California, which approved a ballot measure to legalize adult-use cannabis in 2016—20 years after it became the first state to legalize medical cannabis—is still trying to get its implementation right. Last week, state Sen. Nancy Skinner introduced legislation to help local governments manage the licensing and regulations required by state law. With those current constraints, the illicit cannabis market still outweighs the above-ground legal playing field, she said.

And for states currently considering adult-use legalization, implementation is a focal point. In Virginia, where both chambers of the state legislature passed bills and are moving quickly on the governor’s legalization proposal, lawmakers are running into some of the same challenges as other states pursuing legalization, contributor Raj Chander wrote this week. Some of those challenges include disagreements over license types, penalties for minors and the timing of implementation.

Without federal legalization, there is no one-size-fits-all solution, as lawmakers in each state have to devise implementation strategies that best suit their constituents.

GIE Media, Inc. 5811 Canal Road, Valley View, Ohio 44125

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