Washington rolled out legal recreational marijuana sales last year, a lot of customers got sticker shock. Some of my friends were reporting grams costing $25 and higher. A lot of that was due to the fact that there werent many producers operating at the time, so supplies were very low. However, another big contributing factor is taxes. As supplies flooded the market, prices dropped, but they are still around $15 per gram due to Washingtons high tax rate on marijuana. It sounds like there may be some tax relief on the way. Per Marijuana Business Daily:
Washington State recr....
Marijuana Meets Tech Investment At Cannabis Industry Arc Tank
Founders Fund investing into the cannabis sector, more than 275 high net worth investors from around the world will gather in San Francisco for a Shark Tank like pitch forum on Monday, January 26th and Tuesday, January 27th hosted by The ArcView Investor Network. Investor members of the network will be reviewing pitches from more than 20 cannabis-related companies seeking funding. Justin Kan, who recently sold his company Twitch.tv to Amazon for close to $1 billion and who is now a partner at the tech industrys top business incubator, Y Combinator will be the keynote speak....
Washington Judge Rules Medical Marijuana Advertising Ban Unconstitutional
Advertising rules in Washington State against medical marijuana advertising have been harsh. Doctors and other healthcare professionals have been banned from even mentioning marijuana in advertisements. A Washington Judge recently ruled that such a ban is unconstitutional. Per The Joint Blog:
Pierce County Superior Court Judge Elizabeth Martin has ruled that its unconstitutional for the state to ban doctors and other healthcare professionals from mentioning or showing cannabis in advertisements.
In her ruling, Judge Martin found that the states law banning cannabis advert....
About 1,500 apply for 10 marijuana business licenses in Adams County
Adams County received about 1,500 applications in less than three weeks from people interested in opening a marijuana business in unincorporated areas.
Applications were accepted from Jan. 2 to Jan. 22, during which time the county took the names and contact numbers of all people looking to open a recreational marijuana store, grow house, testing facility or infused-product manufacturing facility.
At the 4 p.m. deadline, people were still lined up waiting to drop off their application.
The names of the first people allowed to apply will be randomly selected during a lott....
Proposal In Washington To Shut Down Dispensaries, Legalize Cultivation
There has been an attack on the medical marijuana industry in Washington for quite some time now. Some blame I-502, some blame a lack of regulations, and some even blame members of the medical marijuana industry in Washington. Regardless of what you feel is the reason behind the attacks, I think we can all agree that they are occurring, which is bad for patients. There is proposal in Washington that would legalize cultivation for those over the age of 21 good, but at the same time would close all medical marijuana dispensaries in Washington very bad. Per The Joint Blog:
Oregon bank opens doors to Colorado marijuana businesses
An Oregon bank is openly offering service to the marijuana industry in Colorado at a time when banks here are lurking mostly in the shadows.
MBank, based outside Portland, is part of a growing number of financial institutions, mostly Washington-based credit unions, that are banking openly with marijuana businesses.
But it is the first to venture across state lines and the only bank to announce publicly that it is serving Colorado marijuana businesses.
The bank said it also is taking marijuana-related deposits in Washington, the other state where recreational pot is legal....
University of Denver adds pot business to law school curriculum
University of Denver Sturm College of Law senior Madalyn McElwain said she was relieved to hear the school was offering the nation`s first class on representing marijuana clients.
The third-year lawyer-to-be wanted to practice in the intricate and quickly changing world of marijuana law, one that for years has ping-ponged between the criminal and civil sectors, but couldn`t talk about it.
``I had to keep my intent quiet because it still wasn`t seen as legitimate,`` McElwain said. ``But now, it`s like, `Yeah I can talk about it now.` It`s legitimate.``
McElwain joined abo....
Gov. Hickenlooper makes pot banking priority in State of the State speech
Colorado Gov. John Hickenlooper gave his State of the State speech on Thursday at the Capitol, and his 45-minute address before a joint session of lawmakers covered priorities from economic development to child welfare and the state budget.
After talking about ways to boost state tourism, Hickenlooper moved on to Colorados legal marijuana, saying, Our regulatory system is beginning to work.
He focused on banking access for the marijuana industry, which has been hampered by federal hang-ups over how the businesses handle their finances.
Heres an excerpt of the governors ....
Growers Struggle With Glut Of Legal Pot In Washington State
In this photo taken Tuesday, Jan. 13, 2015, company partner Sean OLeary displays how cloned marijuana plants are grown suspended into a mist at the Pioneer Nuggets marijuana growing facility in Arlington, Wash. Washingtons second-in-the-nation legal marijuana market opened last summer to a dearth of weed, with some stores periodically closed because they didnt have pot to sell and prices were through the roof. Six months later, the equation has flipped, bringing serious growing pains to the new industry. Prices are starting to come down in the states licensed pot shops, but due to a glut, growers are struggling to sell their marijuana. (image:AP Photo/Elaine Thompson)
Washingtons legal marijuana market opened last summer to a dearth of weed. Some stores periodically closed because they didnt have pot to sell. Prices were through the roof.
Six months later, the equation has flipped, bringing serious growing pains to the new industry.
A big harvest of sun-grown marijuana from eastern Washington last fall flooded the market. Prices are starting to come down in the states licensed pot shops, but due to the glut, growers are - surprisingly - struggling to sell their marijuana. Some are already worried about going belly-up, finding it toughe....
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