Marijuana bill passes in Michigan, making it the first state in the Midwest to free the weed. Learn more about Michigan's legal marijuana in this post from Detroit Free Press. With a last-minute infusion of cash and support that was baked into Proposal 1 from the start, voters decided to legalize marijuana for adult recreational use Tuesday by a comfortable 56-44 percent ... Continue Reading
marijuana businesses
Banks Not Happy Dealing with Marijuana Businesses
Traditional banks are not willing to lend to marijuana businesses in Canada. This post from CNN Business highlights how the big banks are missing a boom. KushCo Holdings, a company that sells packaging and supplies to the cannabis industry, would love to borrow money from a real bank. CEO Nick Kovacevich wants to secure up to $30 million in revolving credit, so he can ... Continue Reading
Legal Cannabis Industry: Growth Despite the Banking Crisis
The $9 billion industry of legal marijuana is one of the strongest growth areas of the U.S. economy, yet most banks won't touch it. This post from Forbes highlights the banking crisis faced by legal cannabis. Imagine an industry with $9 billion in sales — equivalent to the entire snack market — where only 30% of businesses had a bank account. That’s the situation we face today ... Continue Reading
The Bill That Can End Federal Marijuana Prohibition
STATES, a new marijuana bill, could finally put an end to federal marijuana prohibition. After Sens. Gardner and Warren introduced the legislation, advocates call it the "most significant piece of marijuana-related legislation ever". Read more about what the bill is likely to bring, in this post from Rolling Stone. A bipartisan group of lawmakers introduced new legislation ... Continue Reading
Official Website to Explain Pot Farm Regulations
San Diego launched a website to explain the newly approved city regulations for pot farms. This post from The San Diego Union-Tribune describes San Diego’s readiness for Nov. 16. San Diego will begin processing applications on Nov. 16 to become the city’s first legal businesses cultivating and manufacturing marijuana, so city officials have created a new website to help ... Continue Reading