October 6, 2020
New Jersey Voters Set to Decide on Legalizing Marijuana
New Jersey voters will decide whether to legalize recreational marijuana next month, after the Democratic-led state legislature fell short of enough votes to get it done. The ballot measure, if passed, would amend the state constitution to allow people ages 21 and older to use marijuana. It would also allow the state to establish a regulated market to grow, distribute and sell the drug. All registered voters will be sent ballots this month that they can either mail in or drop off at specific sites. There is no early in-person voting in the state. If the measure is approved, New Jersey would become the 12th state in the U.S. along with Washington, D.C., to legalize marijuana for recreational purposes. The state has already legalized medical marijuana. The ballot question became the fallback option for advocates of legalization after legislation stalled in Trenton. The New Jersey Senate, controlled by Democrats, scuttled a scheduled vote on a bill legalizing the substance in 2019 after lawmakers failed to secure enough support to pass it. The Democratic-led state Assembly also demurred when it became clear there was no path to approval in the Senate.
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October 6, 2020
Big Issues Face The Cannabis Industry But A.I. Is Here To Help
If two markets are pretty much guaranteed to make money over the next decade separately it's artificial intelligence and cannabis. Together, the pair could form a perfect storm thanks to COVID-19 driving demand. Cannabis is more popular than ever thanks to lockdowns and vape technology and the market is predicted to be worth $76.3 billion by 2027). A.I. adds new business benefits for the industry that the COVID boom could mean big changes ahead for regulation. Adrian Holguin, CEO of CannaShark Consulting, started consulting for cannabis companies in 2017, and in three years he says the changes have been dramatic. Previously a Silicon Valley alum working in intellectual property and patents and trademark work, Holguin, now works with entrepreneurs and startups entering the cannabis industry and is bullish on the impact that AI is having: "The use of A.I. sensors allows us to keep track of every element of the cultivation process such as water level, P.H. level, temperature, nutrient feed, etc. A.I. will also help in a lot of the automation process. Indoor growing has a history of heavy resource consumption for water and electricity, Artificial Intelligence and robotics allow the cultivating process to be more efficient and effective." Holguin, believes the future of the pairing will help not only with environmental controls and quality control but A.I. also offers more business operations benefits; "A.I. can help with cost-benefit analyses of purchasing manufacturing equipment or analyzing risks before implementing new techniques into the grow-process. If the use of A.I. in cannabis continues to go down the same path as big agriculture, it will ultimately help to reduce the costs of labor." Big issues face the cannabis industry from different fronts. Legally, cannabis continues to see roadblocks, regulation changes, and challenges from across the political divide. For example, CBD, THC, and CBN are all given different National Institute on Drug Abuse classifications even though they come from the same plant. There are more than just regulatory issues for cannabis. One of the most unmentioned surrounds banking, many institutions simply don't want cannabis companies as clients. The same comes with A.I. startups, thanks to the big guns scooping them all up (Google, Facebook etc). A brain drain is happening at a cost to fill 10,000 AI related jobs budgeted more than $650 million for salaries. Some forecasts in Canada have been downgraded. COVID-19 may change this but banking and societal views remain big barriers for scaling businesses. Research and testing also remain an issue for the industry although this is a key area that AI can assist in. As does, state voting; Vivien Azer, Managing Director, Cannabis; Consumer – Beverages, Tobacco for Cowen believes that if New Jersey voters choose to legalize the drug, it could cause a domino effect in neighboring states like New York, Pennsylvania, and others to adopt similar standards.
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October 2, 2020
250,000 Americans Work In Legal Cannabis And Jobs Are ‘Growing’
About a quarter of a million people currently work part-time or full-time in the cannabis industry according to Leafly.com and those numbers are expected to grow significantly as marijuana legalization expands into new states and as nascent markets become more established.
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October 1, 2020
Canopy to bring cannabis beverages to U.S. next summer
Canopy Growth Corp., the cannabis company that attracted Corona beer producer Constellation Brands of Chicago as an investor, is moving to bring cannabis beverages to the U.S. in 2021.
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October 1, 2020
OVER 5,000 POUNDS OF MARIJUANA SEIZED AT MENIFEE PROPERTY
More than 5,000 pounds of cannabis illegally cultivated in the backyard of a Menifee home was seized and the property owner arrested during a law enforcement raid that uncovered some of the product loaded into the back of a truck, authorities said Wednesday.
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October 1, 2020
Public safety, tax revenue part of Monterey cannabis debate
Monterey elected officials and the public on Wednesday had the chance to weigh in on the issue of allowing cannabis operations in the city, allowing City Council members to give city staff direction on additional information needed and questions they want answered the next time the issue comes around.
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September 30, 2020
Missouri Cannabis Supply Chain Ready For Business
With the green light given for a cannabis testing laboratory to begin operations, Missouri’s medical marijuana program supply chain is now complete and will soon be serving patients. Last week’s approval of EKG Labs in St. Louis comes nearly two years after voters legalized the medicinal use of cannabis with the passage of a constitutional amendment in November 2018.
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September 29, 2020
Democrats’ COVID-19 relief bill contains cannabis banking
According to NORML, the main provisions of the proposed law – which would help marijuana businesses gain access to banking services – were included in the Democrats’ bill.
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September 29, 2020
New recreational cannabis markets are seeing quicker starts to sales
As public opinion changes and state regulators learn from those who have gone before them, the time it takes from the approval of medical marijuana by voters or lawmakers to the first recreational sales in a market is getting shorter.
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September 29, 2020
Bill could limit CBD, hemp products
A bill has been drafted in the Wyoming Legislature that would tighten regulation of cannabidiol (CBD) and hemp products in retail settings and restrict the variety of these products that can be sold.
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