Cannabis

New York to Study Full Cannabis Legalization

In his annual budget address yesterday, NY Democratic Governor Andrew Cuomo announced his plan to form a task force to study possible legalization of the adult use of cannabis in the Empire State. Currently the state permits the sale of cannabis only for medical reasons. Less than a year ago, Cuomo referred to cannabis as

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Cannabis Banking Guidance Unclear After Sessions Action

As discussed previously here, on January 4, US Attorney General Jeff Sessions rescinded all prior advisory memos on prosecutorial priorities relating to cannabis, including the 2014 Cole Memo which many relied on in entering the space. One consequence of rescinding the Cole Memo is its effect on US Treasury Department guidelines for banks and financial institutions

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Strong Backlash After Sessions Rescinds Cole Memo

Yesterday, US Attorney General Jeff Sessions rescinded all prior advisory memoranda regarding enforcement priorities in connection with alleged cannabis crimes. This includes the key so-called Cole Memo issued in 2014. That memo advised US attorneys not to prioritize pursuing criminal cases against those complying with state legal cannabis laws as long as certain concerns (such

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Which States Will Legalize Cannabis in 2018?

As we get ready to stick a fork in 2017, the speculation has begun as to which US states might consider legalizing full adult use of cannabis next year. Many are betting on these five: Arizona, Florida, Michigan, Missouri and Nebraska. And of course New Jersey is expected to legalize adult use under new Governor-elect

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Sessions Hints at Broader Cannabis Enforcement

According to The Fresh Toast, US Attorney General Jeff Sessions is now hinting at expanding enforcement of federal cannabis laws. The report indicates that, at a news conference today, Sessions said they are looking “very hard right now” at possible changes to the Cole Memo. That 2013 memo adopted a policy to de-emphasize enforcement activities against

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Sessions Reconfirms Status of Cole Memo

The entire cannabis industry descended on Las Vegas this week for the MJBiz conference where over 18,000 professionals gathered. While we were there, US Attorney General Jeff Sessions made some news during a Congressional grilling focused more on his involvement with Russian players. Many have worried that Sessions intends to change or eliminate the Cole

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NY Adds PTSD to Medical Cannabis Conditions

New York Gov. Andrew Cuomo yesterday signed a bill into law permitting those suffering from post-traumatic stress disorder (PTSD) to access legal medical cannabis. It was particularly symbolic that the bill was signed on Veterans’ Day, since many battle-scarred veterans suffer from PTSD. Most states with medical cannabis permit its use to treat PTSD. New

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Cannabis Deal Sizes “Growing”

Two big announcements this week on the finance side of the emerging global cannabis industry. First, yesterday’s word that the giant alcohol company, Constellation Brands, the maker of Corona Beer among others, is acquiring a stake in Canada’s Canopy Growth Corporation. Canopy is possibly the biggest medical cannabis producer in Canada and is a public

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Nevada Collects $3.5M in First Month of Cannabis Sales

Despite projecting no revenue in their first month of adult use sales of cannabis products in Nevada, the state just reported it received $3.5 million in taxes in July. Sales commenced July 1 amid some distribution challenges that were ultimately ironed out. The state is projecting about $120 million in total cannabis sales per year

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Kosher Cannabis? Now Available

According to the Marijuana Business Daily, a Quebec-based producer of medical cannabis has joined a New York medical cannabis licensee in obtaining certification of their products as kosher under Jewish dietary laws. This means that more observant Jews, who seek to restrict their diets to kosher foods, will be able to obtain medical cannabis from these

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