From cannabis legalization in the 37th U.S. state to increasing investment in marijuana startups in Germany, we’re rounding up the legal cannabis industry stories we’ve been reading this last month.
Mississippi becomes 37th state to legalize medical marijuana
Mississippi became the 37th state to legalize the medical use of marijuana on Wednesday – enabling a new form of pain treatment for residents suffering a number of severe, debilitating health conditions. Under the newly signed law, patients can obtain up to 3 ounces of cannabis per month, or 3.5 grams a day. New York Post.
All Eyes on Germany as Marijuana Startups Pull in Funding
Europe’s cannabis startups are raking in investor funds at an accelerating pace on the prospect of recreational marijuana becoming legal in Germany. Medical use — already legal — is also seeing tremendous growth. Bloomberg
CBD retail sales in France will increase 244% between 2020-2030
In 2020, the market for CBD in France was estimated at 131 million euros ($156 million USD). At present, tinctures command the market at 74 million euros ($88 million USD), followed by capsules at 41 million euros ($49 million USD), and vapes at 21 million euros ($25 million USD). New Frontier Data.
Pot sector nets $15B in taxes, 151k jobs since legalization: Deloitte
Deloitte said the cannabis sector has generated more than $15 billion in direct and indirect tax revenue for Canadian and provincial governments, while creating more than 151,000 jobs since Canada legalized recreational use of the drug in Oct. 2018. BNN Bloomberg.
New Jersey Governor Says Adult-Use Marijuana Sales Will Start ‘Within Weeks’
The governor of New Jersey says recreational marijuana sales will start “within weeks,” with certain existing medical cannabis dispensaries set to be licensed for adult-use commerce. For a dispensary to get that authorization, it will need “local approvals” and “they’ve got to prove that they’ve got the supply for their medical customers first and foremost,” the governor said. “And then I hope shortly thereafter, the standalone retail adult-use cannabis operations” will move forward.” Marijuana Moment.
