The cannabis tourism industry is reported to be valued at $17 billion and could begin to increase post-COVID. Additionally, a report featured in Forbes states that 50% of millennials think that adult-use cannabis access is essential when making plans to travel and that 43% of millennials specifically choose a destination because of legalization. According to Emerald Farm Tours Co-founder Victor Pinho, cannabis tourism has potential. “They’re tourists, and they’re shopping; they are here to spend money in the mecca of weed,” he told Forbes of his business, which is located in Northern Californi ..read more

The Cannabis Regulators Association (CANNRA) is holding a 2-day closed-door conference with cannabis government regulators, trade associations, and businesses to discuss a wide range of policy considerations ranging from promoting equity in the industry to interstate commerce to creating rules around emerging cannabinoids. “We felt like this was an opportunity for us to more formally introduce ourselves to stakeholders and formalize some of those relationships and hear a wide range of perspectives in person, to be able to hear different views.” CANNRA Executive Director Gillian Schauer Read th ..read more

April U.S. cannabis sales as covered by cannabis data analytics firm BDSA grew in 10 out of 11 states. However, compared to a year ago, sales were down in 7 of those markets, driven mainly by declining concentrates growth. This review will look at the markets, beginning with the eastern markets and then concluding with the western markets. Sales across the 11 markets totaled $1.68 billion during the month. BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, and Pennsylvania. In April, year-over-year growth ranged from -7.3% in Maryland to 25.2% in Michigan. Note th ..read more

Several leading cannabis businesses and stakeholders are banding together to sue the federal government over what they believe to be unconstitutional policies impeding their operations. There have been various attempts to upend federal prohibition through the court system, but what makes this emerging effort especially notable is that the coalition of multi-state operators (MSOs) in the cannabis industry will apparently be represented by the firm Boies Schiller Flexner LLP. Some of the prospective supporters are Curaleaf (CURLF) and TerrAscend (TRSSF, and the American Trade Association of Cann ..read more

A new study that was recently published adds further evidence that THC levels detected in the blood or breath of cannabis users are not a reliable indicator of impairment. Researchers also found that levels of THC in blood and breath did not provide reliable evidence of how recently a test subject had used cannabis. In their introduction to the study, the researchers noted that “finding an objective measure of recent cannabis use that correlates with impairment has proven to be an elusive goal.” Some states have enacted laws that set per se legal limits on the amount of THC a driver may have i ..read more

Cannabis companies generally have been raising less money this year versus previous years, but not all industry sectors are coming up short; cannabis real estate lenders are bucking the trend. American companies that lend money and provide sale-leasebacks to the U.S. cannabis cultivation and retail sector have raised $517 million year-to-date as of May 19, 2022 – 232% higher than the total last year and higher than in the equivalent period in any previous year. Real estate is one of the only sectors in cannabis that has raised more money year-to-date than in 2021, even though its client base ..read more

Statistics Canada released March retail sales for the country, with cannabis sales increasing from February by 10.7% to C$358.8 million. February was revised from C$336.4 to C$324.1. The sales were up 20.4% from a year ago, down from the 23.8% February growth rate. An increase in the number of stores and falling flower prices that bring consumers from the illicit market have been boosting sales. In Ontario, the largest province in population, sales were up 11% from February and 41% from a year ago, reflecting the increase in the number of stores. Alberta, the second-largest province, was up 10 ..read more

The New York Office of Cannabis Management (OCM) sent a letter to TikTok executives, urging the company to revise its advertising policy for government entities so that they can freely talk about cannabis in a public health and safety context. OCM Executive Director Chris Alexander said that the office has launched a “Cannabis Conversations” campaign to inform New Yorkers about “who can purchase cannabis, where can you legally use cannabis, and how one can safely use cannabis, including protecting youth.” “We are airing ads from this campaign on broadcast television, on billboards across New Y ..read more

Delta-8 THC derived from hemp has been deemed “lawful” by the U.S. appeals court and is eligible for trademark protection. The 9th Circuit Court of Appeals said last Thursday that because Congress legalized not just hemp but its “derivatives” and “extracts” in the 2018 Farm Bill, delta-8 THC is legal if it is derived from a hemp extract; in this case, CBD. This ruling stems from a vaping dispute between AK Futures and Boyd Street Distro. In the dispute, AK Futures is looking to block fellow California company Boyd Street Distro from allegedly selling counterfeit versions of AK Futures’ “Cake ..read more

The National Institute on Drug Abuse (NIDA) posted a “sources sought” notice last week, explaining that it’s looking for eligible facilities that are authorized to cultivate cannabis by the Drug Enforcement Administration (DEA) and can aid with the “acquisition and/or production of cannabis and related materials” for research purposes. For decades, NIDA has had just one direct cannabis supplier at the University of Mississippi because the DEA had declined to expand the number of authorized producers. But the agency has finally ended that monopoly by approving new licensees. It’s not clear how ..read more