One of the biggest cannatech raises to date.
Cannabis has a $2.4 billion economic impact in Colorado, according to a report from the Marijuana Policy Group. It predicts that sales in the state will plateau at $1.5 billion in 2020. The industry has created18,000 jobs in the state (not all of them directly) and is bigger than Colorado’s craft beer industry.
Over the counter cannabis stocks are rallying ahead of Election Day.
Columnist Joe Matthews says California needs a “ cannabis cartel,” which he defines as a legal corporate oligopoly with the size and resources necessary to control the distribution of cannabis so that our state can properly track, regulate, price and tax America’s largest marijuana market.
Rolling Stone and the New York Times agree that this election is a big deal, cannabiswise. But Joe Dolce, former editor of Details Magazine and author of the new book, “ Brave New Weed,” writes that the Times piece is “ poorly reported on so many levels.”
Some Maine towns are moving to block pot businesses, ahead of the REC vote.
Authorities in The Philippines say they will put more effort into arresting public figures tied to drugs and focus less on slaughtering suspects. A mayor previously accused of ties to drugs was murdered along with nine others at a highway checkpoint. About 2,000 people have been killed in President Rodrigo Duterte’s war on drugs.
Only a narrow plurality of Canadians favor legalizing REC.