On March 31, 2021, New York became the 15th state to legalize recreational cannabis with passage of the Marijuana Regulation and Taxation Act (MRTA). As we wrote in 2020, it appeared New York was close to giving recreational cannabis the green light in 2019, but efforts failed in the waning days of that year’s legislative […] READ MORE: https://www.newcannabisventures.com/new-york-state-makes-incremental-steps-toward-recreational-cannabis-sales/
Prescription drugs have got to be among the most influential human inventions of all time. Thanks to these medications, people have been able to recuperate from illnesses and injuries that would have otherwise taken their lives. However, prescription medications aren’t without risk. Some of these medications have such serious side effects that they actually reduce the quality of life of…
A recent report shows that last year states which had legalized cannabis for adult-use cumulatively raked in more than $3.7 billion in tax revenue from recreational marijuana sales. This report follows up on an analysis the Marijuana Policy Project released at the start of this year, which examined the total adult-use marijuana tax revenue collected by all the states that…
The Valens Company Inc. provided an update on its recent recreational market share in Canada. Tyler Robson, CEO, co-founder and chair of The Valens company, stated “We have shown strong quarter-over-quarter growth, as we continue to execute on our business strategy across all our brands in the Canadian recreational market. Furthermore, with the recent launch of Versus ready-to-drink seltzers, our Contraband ultra-premium flower offering, CNDYLND, and…
Transferring Canadian B2C Medical Cannabis Business to Medicibis Better Aligns Resources to More Promising, Near-Term Opportunities TORONTO — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech company that leverages advancements in science and technology to enable you to find your path to wellness, today announced a strategic move designed to continue to sharpen…
Cannabis reform is sweeping across the globe and undoing decades of prohibition. While the West has been the leader in cannabis legislation, the movement hasn’t been constrained to America, Canada and European nations. In Asia, Thailand entered the history books as the first southeast Asian country to legalize cannabis for medical use and in cosmetics and food. Three years after…
Company Receives Approval to Commence Adult-Use Cannabis Operations and Retail Sales Beginning December 20, 2021 TILT Holdings Inc., a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announced that the Massachusetts Cannabis Control Commission (“CCC”) has approved TILT’s subsidiary, Commonwealth Alternative Care, Inc. (“CAC”), to commence adult-use cannabis operations including…
A study published earlier this week found that cannabis abuse hasn’t risen in states that have enacted laws to legalize recreational cannabis. The study assessed the impact of recreational cannabis laws on the use of cannabis across ethnic and racial groups, tracking trends in usage between 2008 and 2020. For the study, the researchers analyzed data collected from more than…
The Department of Financial and Professional Regulation in the state of Illinois has revealed that legal cannabis sales in July 2021 broke the state’s record, with more than $125 million in gross recreational receipts. This figure is about $10 million higher than the state’s prior sales record, which was set in May of this year. This shows that despite the…
With more than 16 states already allowing the sale and consumption of recreational cannabis within their borders, Connecticut has now taken the first tentative steps towards establishing a legal recreational cannabis market. Last week, the state’s Judiciary Committee approved a bill that would legalize recreational cannabis with a 22 to 16 vote. Backed by Governor Ned Lamont, the legislation would…
Andrew Cuomo, the governor of New York State, signed a bill legalizing recreational marijuana last week. This was a few hours after legislators had sent the draft law to his office after both chambers passed it the day before. Speaking after enacting the law, Gov. Cuomo said that the signing was a historic event, a day on which harsh sentences…
After months of restricting access to its recreational cannabis industry, Michigan has loosened a key restriction that kept many from acquiring a recreational cannabis license. Beginning on March 1, 2021, applicants for five types of recreational cannabis licenses will not be required to have an active medical marijuana license to qualify. The state initially put this policy in place to…