A few more states have added legalization to the November 2020 ballots, Illinois announced when it will award dispensary licenses and cannabis vending machines are now available in Colorado. Cannabis always keeps evolving - check out the latest!
NATIONAL HIGHLIGHTS
The Fall Of Cannabis Industry Titans Is Not Surprising - It’s Natural
Global cannabis attorney shares his look at the rise and fall of U.S. cannabis leaders. With failures on such a large scale, like the fall of MedMen, it’s becoming increasingly clear that current strategies aren’t working. (Forbes)
STATEWIDE CHATTER
Colorado
June marks the first month in Colorado history that recreational marijuana shops sold more than $150 million worth of products. Recreational marijuana consumers spent $158,102,628 at Colorado shops in June -- a 6% increase of the previous single-month recreational sales record of $149,186,615 that was set in May. The Colorado Department of Revenue collected $33.62 million in taxes and fees on cannabis sales and businesses in June. (Denver Post)
Cannabis customers can now buy marijuana from vending machines in Colorado. The Strawberry Fields dispensary has four vending machines operating at one location in Pueblo. The machine holds up to 2,000 products, including flower, edibles and vape oils. (CBS Denver)
Illinois
State regulators announced 75 new cannabis dispensaries will be permitted in the coming weeks following recent approval of rules for a tiebreaking process for granting licenses to recreational marijuana retailers. The licenses are the first issued by the state to anyone other than the owners of the few dozen companies that were already authorized to operate medical marijuana dispensaries before lawmakers voted to legalize the retail sale of adult-use cannabis. (Patch.com)
Illinois' breakout star in a hazy economic landscape: recreational marijuana. July alone saw more than $60 million in sales, setting a new record for the state -- topping May and June, which had also set records. It's a boon for the state, which, like others around the US, has had to reassess its finances because of the pandemic. In the first six months of the year, the state recouped about $52 million in tax revenue, blowing through its initial estimate for the first half of 2020 of $28 million. About 35% of that tax revenue is returned to local governments, including communities that had been negatively impacted by the criminalization of marijuana. (CNN)
Massachusetts
As fiscal 2020 drew to a close in June, Massachusetts marked a milestone: $122 million in tax revenue had been collected in the first two fiscal years of recreational cannabis sales. Where has that money gone? According to a Business Journal analysis of state data, the money has supported a variety of state and local needs, from town operations to the MBTA. (MassLive.com)
Ohio
Medical cannabis companies in Ohio, complaining that market growth is being constrained, are calling for more dispensaries and permission to expand cultivation facilities. The complaints come as medical marijuana sales in the state reached the milestone of $100 million year-to-date, according to Columbus Business First. (Marijuana Business Daily)
Vermont
A bill to legalize marijuana sales in Vermont is set to advance during a special session this month or next. While Vermont legalized cannabis possession of up to one ounce and cultivation of two plants in 2018, there is currently no regulatory system in place that allows for retail sales. (Marijuana Moment)
November 2020 Ballot
Arizona: A measure to legalize marijuana in Arizona officially qualified for the November ballot on Monday. The secretary of state announced that activists turned in enough valid petitions to make the cut one month after about 420,000 raw signatures were submitted. Under the measure, adults could possess up to an ounce of marijuana at a time and cultivate up to six plants for personal use. (Marijuana Moment)
Montana: A citizen initiative in Montana to legalize a commercial recreational marijuana program gathered enough valid signatures to appear on the November ballot, according to the Secretary of State’s office. The ballot initiative, backed by New Approach Montana, would set up a regulated adult-use market. (Marijuana Business Daily)
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