Business of Cannabis
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Since 2017, Business of Cannabis has highlighted the companies, brands, people and trends driving the cannabis industry in North America. We're not just telling the story of the cannabis sector. We're shaping it.
Business of Cannabis
4h ago
Germany’s passage of CanG continues to drive up stock prices
Yesterday, the President of Bundesrat, Manuela Schwesig, signed Germany’s landmark CanG bill, meaning it is now all but certain to be brought into law on April 01.
This milestone follows the final passage of the bill through the Bundesrat on Friday (March 22), a development that has seen stock prices of companies with any operations in the region spike.
The latest peaks follow weeks of gains for German cannabis stocks, many of which have seen double and triple-digit percentage point gains since the start of the year off the back of C ..read more
Business of Cannabis
4h ago
Germany is set to legalize cannabis for adult use starting on April 1st, 2024. The historic policy change will usher in a new era for Europe’s emerging cannabis industry, with Germany leading the way. Several other European nations have plans to modernise their own cannabis policies once Germany’s policy change becomes effective.
The timing could not be more perfect for the return of the International Cannabis Business Conference (ICBC) in Berlin on April 16-17th at the iconic Estrel Berlin Hotel. ICBC Berlin is the conference series’ flagship B2B event and tradeshow, serving as Europe’s ..read more
Business of Cannabis
18h ago
The Biden administration is relying heavily on cannabis reform to drum up support among younger voters ahead of the upcoming presidential election.
According to a new report from the Los Angeles Times, Biden’s team is hoping that its recent commitment to cannabis reform will help galvanize support among 18-29 year olds, only 31% of whom currently view him favourably, a recent Economist/YouGov poll suggests.
Though this is significantly above his rival Trump’s 21% favorability rating, the administration believes these voters need to be particularly motivated to turn up to the polls, an issue th ..read more
Business of Cannabis
1d ago
As the dust settles from last week’s milestone vote in Germany, which is set to bring adult-use cannabis decriminalisation to the European Union’s most populous country, its neighbour Switzerland has announced a flurry of updates regarding its own cannabis project.
Switzerland’s adult-use cannabis pilot project, which Germany’s upcoming Pillar 2 will closely model, has now been running for more than a year, and initial results from its seven authorised studies are now beginning to emerge.
The Department of Health for Basel-Stadt, which launched Switzerland’s first pilot trial in January 2023 ..read more
Business of Cannabis
1d ago
New research based on figures from the Canadian government has shown that while legalisation has led to an increase in cannabis use, the ‘legal market is increasingly displacing the illicit cannabis market’ in the country.
According to new data published in the International Journal of Drug Policy, the percentage of Canadians purchasing cannabis from the legal market increased from 37% in 2019 to 69% in 2022.
Based on data from the Canadian Cannabis Survey, an annual web-based survey that has been given to Canadians aged 16 and above since cannabis was legalised in 2018, the results suggest th ..read more
Business of Cannabis
2d ago
Hawaii’s cannabis legalization bill has narrowly progressed to its final committee vote after lawmakers voted 25-23 in favour of the bill on Friday.
The heated debate on the House floor last week has seen the SB 3335 bill make it the furthest any such bill has made it in the state, despite numerous attempts to legalize adult-use cannabis.
Now the bill will move to its final vote in the House Finance Committee, though given that some members who spoke out against the legislation on Friday are also part of the Finance Committee, it’s passage is far from guaranteed.
If the Finance Committee appro ..read more
Business of Cannabis
2d ago
Earlier this month, the co-chair of the UK’s APPG for Industrial Hemp and CBD, Ronnie Cowen, made an impassioned plea to Parliament for government investment in the UK’s hemp industry.
A week after the spring budget was announced, Mr Cowen questioned why hemp had been overlooked, not only as a provider of jobs and investment into the UK economy, but as a key tool in helping reach targets to reduce carbon emissions.
This topic was explored in more detail the following day during the Annual General Meeting of the APPG for Industrial Hemp & CBD Products, where the Founder & CEO of Unyte G ..read more
Business of Cannabis
3d ago
Cannabis sales in Canada dropped to their lowest level in nearly a year in January, according to the latest figures from Statistics Canada.
Adult-use cannabis sales fell by over 11% to C$400.1m in January 2024, down from C$451.8m in December 2023, though this figure was revised upwards from $441.2m.
Compared to January 2023, sales grew by just 1.2%, marking a significant fall in year-on-year growth compared to the 14.1% seen between January 2022 and 2023.
Last year also saw the steepest decline in annual sales since legalization in 2018, falling for three consecutive months after a high point ..read more
Business of Cannabis
3d ago
As reported by Cannabis Health
Switzerland has launched its seventh adult-use cannabis pilot, the largest to date, following the publication of the first trial data earlier this month.
Officials in Switzerland announced a seventh pilot study into the sale of legal cannabis for adult-use in the canton of Zürich on Monday 18 March.
In the largest trial to date, up to 7,500 people are expected to take part in the study which will run for five years and see 5,000 participants permitted to access regulated cannabis products.
It follows six previous pilot programmes which are now eith ..read more
Business of Cannabis
6d ago
Today, the Canadian government published the final report on its review of the Cannabis Act, which saw it become the ‘first major developed country to legalize and regulate cannabis’ in 2018.
With cannabis businesses throughout the country continuing to struggle amid high tax burdens, extensive beaurocracy, and a thriving illicit market, the 54 recommendations and 11 observations put forward by the review have been hotly anticipated by the market.
The Cannabis Act stipulated that, due to the wide-ranging implications of moving from prohibition to regulation, it should be reviewed three years a ..read more