Despite majority support for REC legalization, changing federal cannabis law depends on convincing three key GOP senators: Majority Leader Mitch McConnell (Ky.), Lindsey Graham (S.C.) and Mike Crapo (Id.), Rolling Stone reports.
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New Cannabis Ventures' Alan Brochstein writes $2 Billion in capital is awaiting deployment into the cannabis sector and "investors are writing blank checks."
Massachusetts-based Curaleaf Holdings said it would acquire Grassroots cannabis for $875M. Acquiring the Chicago-based company will enable Curaleaf to gain a coveted place in the Illinois market.
Separately, private equity firms Cresco Capital Partners and Trivergance are taking over the influential investment network ArcView Group following their lead on a $7.7M investment in Arcview.
The company had previously predicted it would sell $1 Billion in 2020.
An audit found California's Bureau of Cannabis Control is struggling to regulate the industry, with difficulties hiring staff and setting a strategy.
🌴WeedWeek California has lots more on the tumultuous Golden State market including:
As part of its equity plan, Michigan will give discounts on licenses and application fees to qualified residents of 19 cities, including Detroit with above average poverty rates.
More than 100 businesses and organizations urged Congress to include social equity provisions in national cannabis reform.
Cannabis Wire reports on the regulators who are rewriting Colorado's laws to allow public companies to invest in state cannabis companies. A bill signed by Gov. Jared Polis (D) mandates the change.
Utah dropped an out of state residency requirement for MED licenses.
The question of how to govern CBD is sowing confusion in states:
But business can't wait:
The Evening Standard compares the lives of two sisters with epilepsy. Chelsea Leyland could access CBD because she lives in New York and her sister, Tamsin can't because she lives in the U.K.
A study found recent cannabis users may be more likely to suffer cognitive deficits and memory loss a study found.
The Miami Herald talks to former pot smugglers, now in their sixties, who are making money regaling audiences with their decades-old tales of derring do.
The discovery of cannabis pollen near a Viking settlement in Newfoundland suggests the ancient warriors may have brought cannabis to Canada.
For tons of more recent news from the great white north, check out the new issue of 🍁WeedWeek Canada.
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