Global Cannabis Spending Grew 46% To $15B In 2019, Could Surpass $20B In 2020
The global cannabis industry grew 46% in 2019 fueled by emerging adult-use markets. It has the potential to grow another 38% in 2020 and projected to reach $48 billion in 2025. The worldwide legal cannabis industry posted its biggest year of growth in 2019, according to data firm BDSA. The Arcview Market Research/BDSA forecast model shows worldwide spending grew 46.1% to $14.8 billion in 2019 over the course of a six-year period from 2013 to 2019. During that time, legal spending grew at a 34.3%
Vacaville, CA cannabis prohibition could end on November ballot
The issue of cannabis dispensaries in Vacaville has been hotly debated since before California voters approved their legalization in 2016. It may go before local voters in November if the Vacaville City Council approves a ballot measure to impose a cannabis business tax. The matter will go before the council at its Tuesday meeting. In 2016, the council adopted a medical cannabis regulations ordinance that permanently prohibited all medical cannabis businesses and operations and temporarily prohibited the personal cultivation of medical marijuana.
The economics smell nice in Santa Barbara, where a third of California’s pot is grown
Santa Barbara County only has 1.8% of California’s land, but it has 35% of the state’s pot cultivation licenses. That might be good news for county jobs and revenue. But it has negatively affected avocado and wine industries, which are more traditionally associated with the coastal county. And there’s an uptick in resident complaints about the smell of cannabis. The meteoric rise of cannabis is thanks to a close relationship between the industry, its lobbyists, and local political leaders. A scathing grand jury
Four Years After Legalization, California Has Had Unexpected and Often Disappointing Results
“I knew Prop 64 would pass, and that was fine with me,” recalls Rev. James K. McKnight, Pastor of the Congregationalist Church of Christian Fellowship in South Central Los Angeles, where low-level cannabis convictions are among the highest in the state. “The law promised social equity, social justice, second chances." But no one told him it was going to take years to take effect. Californians had high expectations when they overwhelmingly voted in 2016 to legalize adult-use cannabis with Proposition 64: the Control,
Tommy Chong and Cheech Marin Make Multi-state Dispensary Deal with Five Point Holdings
Cheech & Chong's management company to license the Cheech & Chong Brand to initially open dispensaries in California, Nevada, Arizona, Illinois and Washington. The license will allow the company to develop experiential cannabis dispensaries utilizing the Cheech & Chong brand name. Tommy Chong and Cheech Marin, names practically synonymous with cannabis culture, are making a long-awaited leap into the dispensary business. They have entered into a licensing partnership with Five Points Holdings Inc., which includes opening dispensaries in 5 states -- complete with
New Data Back Use of Medical Cannabis for Epilepsy, Pain, Anxiety
From Medscape In one study, patients with epilepsy who used medical cannabis were nearly half as likely to have needed an emergency department visit within the last 30 days as was a control group. In the other study, 3 of 54 subjects who used medical cannabis showed signs of possible cannabis use disorder (CUD) over 12 months. The findings show that "there is improvement in a range of outcome variables, and the adverse effects seem to be minimal, compared to what we might have
Fullerton, CA dispensaries may become a reality
On Tuesday, the Fullerton City Council discussed a proposed ordinance during a meeting to regulate commercial cannabis activity, but no decision was made that night. Matt Foulkes, the community and economic development director, presented the council with a summary of the commercial cannabis community outreach efforts over the last six months. The presentation provided the city staff and planning commission with more direction on the ordinance in regulating the activity within Fullerton. In 2017, one year after recreational cannabis use became legal in California,
California Creates Cannabis Appellation Program Protecting Mendocino, Humboldt, and Trinity counties
In February 2020, the California Department of Food and Agriculture (“CDFA”) released its proposed regulations for a first of its kind appellation program for cannabis cultivators. The appellation program was established through the same law that regulates California’s cannabis industry, the Medicinal and Adult-Use Cannabis Regulations and Safety Act (“MAUCRSA”); however, the CDFA had to establish its regulations to implement that program. After releasing the proposed regulations in February 2020 there was a public comment period, which ended in May 2020. Since then,
Black People Are Still Disproportionately Arrested for Marijuana Possession in California
There was hope that when states like California voted to legalize marijuana, it would correlate with a reduction in marijuana related arrests for Black people. In Los Angeles, the opposite has proven to be true due to both a lack of access to legal means and red tape making it harder for Black entrepreneurs to break into the industry. Crosstown reports that the number of Black people arrested on marijuana charges in L.A has steadily increased over the last three years, going
COVID-19 Recession Creates Even More California Cannabis Start Up Opportunities
SACRAMENTO, CA | PRNewswire Due to the ravaging pending and projected impact of the COVID-19 pandemic on local job markets and commercial property occupancy rates throughout California, more cities and counties are looking to embrace cannabis businesses as a lifeline to new taxes, fees, tenants and employment options. Despite Prop 64's historic 2016 victory, only approximately one-third of the state's jurisdictions permit cannabis activities to operate today, with Retailer Dispensaries and outdoor cultivation being the most rarely allowed. Cities and counties leaders who are