Even during tough economic times, marijuana consumers are turning to higher-priced flower products – a signal that cannabis users are increasingly willing to spend more money on such merchandise. The trend could be mirroring the beer and wine sec…
Colorado Medical Cannabis Business & Marijuana Legal News
Colorado summer cannabis sales thrive despite collapse of state’s tourism industry
Sales of recreational marijuana in Colorado continued to climb during the summer months, even while tourism revenue tumbled more than 50% because of the coronavirus pandemic. The state has lost more than $8 billion in tourism spending since March, acco…
Investors awarded restitution of $2.5M in Colorado marijuana fraud case
Four investors who were defrauded by an illicit marijuana scheme in which a Colorado businessman illegally distributed MJ into various states have been awarded a total of $2.5 million in restitution by a district court judge. According to a news releas…
Wholesale marijuana, hemp oil prices fall nationwide amid growing supply of raw material
Wholesale prices of marijuana and hemp oil have fallen from a year ago, according to industry executives, reflecting rising oil production nationwide that has more than offset an uptick in cannabis sales amid the coronavirus pandemic. The drop in whole…
Marijuana regulators across US to share best practices, offer advice
Marijuana regulators from 19 states have established a nonpartisan organization to share best practices and industry knowledge. The Cannabis Regulators Association (CANNRA) also will assist federal, state and local authorities that have approved or are…
Denver medical cannabis dispensary takes 280E appeal to Supreme Court
A Colorado medical cannabis dispensary is asking the U.S. Supreme Court to review a lower-court decision that allowed the IRS to obtain business records in order to apply the onerous 280E provision of the tax code. The filing this week is a long shot, …
Colorado, Illinois cannabis industries set for gains after ballot measures
The recreational marijuana industry is poised to expand further in Colorado and Illinois, where voters in several municipalities approved local ballot questions that will repeal previous business bans, according to early returns. In Colorado, at least …
Canadian cannabis firm Hexo claims win in California trademark settlement
Canadian cannabis producer Hexo Corp. said it has reached a settlement in a trademark-infringement lawsuit against California-based Assi Project Management. Hexo sued Assi for unfair competition and trademark infringement in the U.S. District Court for…
Marijuana grow firm projects $50M revenue increase through acquisition
GrowGeneration Corp., the Denver-based cannabis cultivation company which owns a chain of specialty hydroponic and organic garden centers, signed an agreement to purchase The GrowBiz, a chain of hydroponic garden centers, with five stores in California…
As new cannabis vending machines hit the market, challenges remain
A new cannabis vending machine has hit the market in Colorado, with other states on the horizon, but the automated dispensers must overcome a host of challenges to become a regular part of the marijuana retail landscape. In theory, in-dispensary vendin…