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Mastering the Cannabis Market: 4 Key Strategies for Cultivation Success with BigMike

LOS ANGELES — The U.S. cannabis industry, projected to reach nearly $40 billion by the nearing close of 2024, presents both substantial opportunities and escalating challenges for cultivators. With rising competition, price compression, and increasing compliance costs, particularly in saturated markets like California, Colorado, and Oregon, profitability is no longer guaranteed by product quality alone. ...

October 18th, 2024|Insights|

ANNOUNCING: We’re ‘Stirring the Pot’ in New Classic Cannabis Debate Show Sponsored by Guy Rocourt Brand

GET READY to 'STIR THE POT': Cannabis Debates Heat Up in New Show "Stirring the Pot," Sponsored by Guy Rocourt Brand Launching October 2024, 'Stirring the Pot' Brings Together Industry Celebrities to Discuss the Hot Topics of Cannabis Culture and Business LOS ANGELES — The cannabis industry is on the cusp of monumental change, and what ...

October 18th, 2024|Business, News, The Hive|

Tennessee Introduces New Regulations for Hemp Product Sales

LOS ANGELES- Tennessee regulators have introduced significant new rules for the sale of hemp-derived cannabinoid (HDC) products, which are set to take full effect on December 26, 2024. These regulations, overseen by the Tennessee Department of Agriculture, establish stricter guidelines for businesses involved in the production, distribution, and retail of hemp products, including Delta-8, Delta-10, ...

October 18th, 2024|Justice|

Germany’s Medical Cannabis Market Set to Reach €420 Million in 2024

BERLIN- Germany's medical cannabis market is poised for substantial growth in 2024, with sales projected to surpass €420 million ($455 million), according to a report by Prohibition Partners. The country, which has led Europe in medical cannabis since legalizing it in 2017, continues to expand patient access, with over 200,000 registered users and public healthcare ...

October 18th, 2024|World|

2024 Presidential Candidates Outline Contrasting Visions for Cannabis and Psychedelics Reform

LOS ANGELES- The 2024 presidential election is showcasing a diverse range of positions on cannabis and psychedelics reform, reflecting the evolving landscape of U.S. drug policy. Prominent candidates across both parties have taken varying stances, focusing on issues such as medical access, criminal justice reform, and veterans' care. Former President Donald Trump has shifted his ...

October 17th, 2024|Justice|

Massachusetts Voters Divided Over Psychedelics Legalization Ahead of 2024 Ballot

LOS ANGELES- Massachusetts voters are set to decide on Question 4 in the upcoming November 5 ballot, which proposes the legalization and regulation of certain psychedelic substances for therapeutic and personal use. If approved, Massachusetts would join Oregon and Colorado as states that have enacted similar measures. Recent polling indicates a closely contested issue: 42% ...

October 17th, 2024|Psychedelics|

The Normalization of Cannabis: Insights from California’s Consumption Lounges

LOS ANGELES — Cannabis has come a long way from its stigmatized past, with consumption lounges playing a pivotal role in normalizing its use. In California, legalization of these lounges is reshaping how consumers interact with cannabis, providing safe, regulated environments for enjoyment and education. This article explores the history, growth, and future of cannabis ...

October 16th, 2024|Insights, News|

Cannabis Industry Poised for $112 Billion Impact in 2024

LOS ANGELES- The cannabis financial market has been showing signs of both growth and challenges in 2024. The U.S. cannabis industry is projected to contribute $112.4 billion to the economy by the end of the year, with a continued upward trajectory expected through 2030. Despite lingering federal restrictions, the industry has seen strong revenue generation, ...

October 16th, 2024|Capital|

Florida Chamber of Commerce Launches Campaign Against Cannabis Legalization Amendment

LOS ANGELES- The Florida Chamber of Commerce has launched an online campaign opposing Amendment 3, a ballot initiative that could legalize adult-use cannabis in the state. Through its website, flbizagainsta3.com, the Chamber aims to educate voters on what it views as the economic and social risks of cannabis legalization. The campaign is spearheaded by the ...

October 16th, 2024|Insights|

New York Opens Applications for $5 Million Cannabis-Funded Community Grants Program

NEW YORK- New York State has opened applications for a $5 million Community Reinvestment Grants program, funded by cannabis tax revenue. This initiative is designed to support areas that have been disproportionately impacted by past drug enforcement policies. Administered by the Office of Cannabis Management (OCM), the program will offer individual grants of $100,000 to ...

October 16th, 2024|Business|
  • United States Cannabinoids Market Analysis

Multiple States to Vote on Key Marijuana Legalization Measures in November 2024

LOS ANGELES- The November 5, 2024 election is set to be a critical moment for cannabis law reform, with several states considering ballot initiatives that could reshape marijuana policies across the U.S. Key states include Florida, where Amendment 3 could legalize recreational cannabis for adults 21 and older, allowing the purchase of up to three ...

October 15th, 2024|Justice|

California Judge Upholds Emergency Regulations Banning THC in Hemp Products

LOS ANGELES- A California judge has recently upheld emergency regulations that restrict the sale of hemp products containing any detectable levels of THC. The decision came after hemp companies challenged the state's new rules, arguing that the regulations would devastate their industry. However, the court sided with Governor Gavin Newsom's administration, which argued that the ...

October 15th, 2024|Justice|

Kamala Harris Pledges to Federally Legalize Cannabis

LOS ANGELES- Vice President Kamala Harris has announced a commitment to federally legalize cannabis if elected in the 2024 presidential race. Her campaign emphasizes that legalizing recreational cannabis will address systemic inequalities, particularly those affecting Black men who have been disproportionately impacted by the enforcement of cannabis laws. Harris' proposal is part of a broader ...

October 14th, 2024|Insights|

Week’s In Review: New Hampshire Senate Blocks Cannabis Greenhouse Bill Despite Overwhelming House Support; Tilray Reports 13% Decline in Cannabis Revenue for Q1 FY25; Missouri Health Department Requests $877K to Enforce Hemp Product Ban

LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well...they're not doing so well (hello New York). Let's get to it!  Cannabis Industry Highlights 1#New Hampshire Senate Blocks Cannabis Greenhouse Bill Despite Overwhelming House Support: New Hampshire lawmakers ...

October 14th, 2024|Business, The Week in Review|

Embracing the Evolution: The Rise of Cannabis Consumption Lounges

LOS ANGELES — The cannabis industry is no stranger to innovation, and one of the most promising developments in recent years is the emergence of cannabis consumption lounges. These venues are revolutionizing the way consumers interact with cannabis, offering a safe, social, and sophisticated environment for enthusiasts to enjoy their products.  The cannabis industry in ...

October 13th, 2024|Business, Insights, News|

New Hampshire Senate Blocks Cannabis Greenhouse Bill Despite Overwhelming House Support

LOS ANGELES- New Hampshire lawmakers have failed to override Governor Chris Sununu’s veto of a bill that would have allowed medical cannabis producers to cultivate cannabis in greenhouses. The House of Representatives had voted overwhelmingly, 270-55, to override the veto, but the Senate blocked the effort with a 14-9 vote. The bill, HB 1581, aimed ...

October 11th, 2024|Justice|

Czech Senate Approves Regulation of Kratom and HHC Sales

LOS ANGELES- The Czech Senate has approved new legislation regulating the sale of kratom and hexahydrocannabinol (HHC), a move aimed at safeguarding public health, especially for minors. These changes follow a high-profile incident in January 2024 in Karlovy Vary, where primary school children were hospitalized after consuming HHC-infused sweets. The legislation introduces stricter controls on ...

October 11th, 2024|World|

Nebraska Officials Scrutinize Medical Cannabis Petition Signatures

LOS ANGELES- Nebraska state officials are questioning the validity of signatures supporting two medical cannabis ballot initiatives, sparking a legal battle over whether the measures should remain on the upcoming November ballot. Secretary of State Bob Evnen and Attorney General Mike Hilgers have raised concerns about the legitimacy of roughly 49,000 signatures on each petition, ...

October 10th, 2024|Insights|

Tilray Reports 13% Decline in Cannabis Revenue for Q1 FY25

LOS ANGELES- Tilray Brands, a lifestyle and consumer packaged goods company, announced a 13% decline in its cannabis revenue for the first quarter of fiscal year 2025, ending August 31, 2024. Despite overall growth in other business segments, the cannabis division reported net revenue of $61.2 million. This comes as the company faces broader challenges ...

October 10th, 2024|Business|

Arkansas Supreme Court Cannabis Ballot Case Advances as Two Justices Recuse Themselves

LOS ANGELES- Two Arkansas Supreme Court justices have recused themselves from a key case involving a cannabis ballot measure, without providing any explanation for their decisions. Chief Justice John Kemp and Associate Justice Courtney Hudson will be replaced by temporary appointees, as Gov. Sarah Huckabee Sanders named Don Curdie, chairman of the Arkansas State Board ...

October 9th, 2024|Justice|

Delaware Receives Over 1,200 Cannabis Business License Applications Ahead of Market Launch

LOS ANGELES- Delaware officials have received 1,269 applications for cannabis business licenses, significantly surpassing expectations, as the state prepares to launch its adult-use cannabis market. The Office of the Marijuana Commissioner (OMC) opened the application window from August 19 to September 30, collecting approximately $4.1 million in fees. The high demand has prompted the state ...

October 9th, 2024|Insights|

New Jersey Senate Committee Advances Therapeutic Psilocybin Bill

LOS ANGELES- The New Jersey Senate Budget and Appropriations Committee has approved Senate Bill 2283, advancing legislation to legalize the therapeutic use of psilocybin for medical purposes. The bill, sponsored by Senate President Nick Scutari (D), comes after months of deliberation and amendments that shifted the focus from adult recreational use to strictly medical applications. ...

October 8th, 2024|Psychedelics|

Trulieve Files Defamation Lawsuit Against Florida GOP Over Cannabis Legalization Ads

LOS ANGELES- Trulieve, Florida's largest medical cannabis operator, filed a defamation lawsuit against the Republican Party of Florida on Wednesday, accusing the party of spreading misleading advertisements about Amendment 3. The amendment, which will appear on the ballot in November, seeks to legalize cannabis for adults aged 21 and older. The lawsuit claims that a ...

October 7th, 2024|Insights|
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