Colorado’s licensed cannabis retailers have sold more than $6.56 billion worth of marijuana products since legal sales began in 2014, following voters’ approval of a legalization ballot measure in 2012. That activity has generated more than $1.02 billion in taxes and fees for the state.
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As competition between cannabis retailers grows, so does the number of stores in mature markets, where the relative density of marijuana shops has surpassed that of Starbucks in many.
Moving forward, retailers will need to provide consumers a compelling reason to visit and return, such as low prices, exceptional service, quality product selection and convenience.
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California is one step closer to providing the state’s burgeoning cannabis industry with legal banking services.
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When a state legalizes cannabis, local municipal officials are put in a tough spot: they have the power to allow or prohibit cannabis stores from opening in their jurisdiction. It’s done through property zoning. Click the link in our bio to read results of an evidence based study detailing impact on teen use and property value trends in communities that have allowed dispensaries.
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In today’s maturing cannabis market, where acquisitions, mergers, and partnerships are on the uptick, creating a memorable brand is essential for survival. Read more at the link in our bio for lessons from 20 top cannabis companies.
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Unless you’ve been living under a rock, there’s a pretty good chance you’ve heard about the once-in-a-generation investment opportunity that is the legalized marijuana industry. According to Bank of America analyst Christopher Carey, the cannabis industry could one day offer peak annual sales potential of $166 billion, and disrupt industries that currently total $2.6 trillion in yearly sales. Considering that only two countries worldwide have OK’d recreational weed, and just over 40 have legalized medical marijuana, the ceiling for the pot industry is still a ways off.
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The cannabis industry wants a single set of rules, but entrepreneurs aren’t sure what those rules should be.
At Friday’s landmark cannabis review by the U.S. Food and Administration (FDA), CBD manufacturers joined with academics, consumer packaged goods manufacturers and agriculture officials to ask a panel of regulators to give the cannabis industry a uniform set of guidelines for producing, packaging and labeling cannabis extracts.
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With the clock ticking to adjournment, the Illinois Senate quickly passed a comprehensive measure to legalize recreational marijuana earlier today.
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Companies that sell cannabis products—even those consisting of CBD derived from hemp, which was legalized in the U.S. through the Farm Bill late last year—are continuing to have trouble accessing basic financial services that are available to businesses in other sectors. That includes being able to maintain bank accounts and process their customers’ credit cards.
The latter problem could be solved under a new pilot program that has quietly been launched by the payment processing service Square.
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Good progress as the California Senate voted almost unanimously to pass a bill that would allow banks and credit unions to accept cash deposits from cannabis retailers.
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