Tag: cannabis insurance

Financial analysts say they expect the expansion of the marijuana legalization movement will continue to post a “significant threat” to the alcohol industry, citing survey data that suggests more people are using cannabis as a substitute for alcoholic beverages such a beer and wine. A report from Bloomberg Intelligence (BI) projects that slumping sales of […]

American marijuana consumers have spent more than $4.1 billion on pre-rolled joints over the past year and a half, according to a new industry report, with the products now making up about 15.9 percent of the cannabis market. Among the latest trends in the pre-roll market, it adds, is the continued growth of specialty infused […]

Volkswagen is teaming up with a German hemp company to produce a cannabis-based leather alternative for its vehicles. In the interest of exploring sustainable materials for its cars, Volkwagen announced last week that it will be working with the start-up business Revoltech GmbH to incorporate hemp into its automobile manufacturing, potentially beginning with its 2028 […]

Ohio adult-use marijuana sales reached $22.5 million in the first 11 days since the market launched earlier this month, according to new data from the Division of Cannabis Control (DCC). After selling $11.5 million in recreational marijuana during the first five days of the state’s first hybrid dispensaries opening, the state saw another $10.9 million […]

Among cannabis consumers in states with legalization laws, nearly 8 in 10 say they purchase all or most of their marijuana from licensed retailers—seemingly supporting advocates’ arguments that enacting regulated markets can detract from illicit sellers. That’s according to a new poll conducted by the cannabis telehealth platform NuggMD. It found that 77 percent of […]

Marijuana retailers in Illinois have already sold more than $1 billion in legal cannabis products during 2024, Gov. JB Pritzker (D) announced on Wednesday, noting that the state reached the billion-dollar mark at a faster pace than it did in 2023. The total sales amount includes more than $850 million worth of recreational cannabis and […]

States have now generated more than $20 billion in adult-use marijuana tax revenue since the first markets opened a decade ago, according to a new report from a top cannabis reform advocacy group. The Marijuana Policy Project (MPP) also said that in 2023 alone, states collected over $4 billion in recreational cannabis tax revenue—the most […]

New Jersey marijuana shops sold a record $201 million worth of product in the first quarter of 2024, regulators say. And the state also reached new “historical highs” in sales over the 4/20 weekend, including more than $5.2 million worth of purchases on the holiday alone. The New Jersey Cannabis Regulatory Commission (CRC) announced on […]

The number of full-time marijuana jobs in the U.S. rose by nearly 5 percent during the past year, according to the latest annual industry report on employment in the cannabis sector. That’s a turnaround from the roughly 2 percent decline between 2022 and 2023, but otherwise it marks the slowest year-over-year growth going back to […]

“We have not been provided with specific reasons or justifications for the revocation, leaving us in a position where we must take appropriate action.” By Rebecca Rivas, Missouri Independent Missouri cannabis regulators have revoked nine of the 48 social-equity cannabis licenses issued in October, after finding the companies that obtained them didn’t meet eligibility requirements. […]