The cannabis industry continues to evolve rapidly, with new developments unfolding each week. Here’s a roundup of some of the latest news:
Former Mayor’s Cannabis Charges Dismissed
In a surprising turn of events, charges against Scott Robertson, the former mayor of Winnebago, Minnesota, for illegal cannabis cultivation were dismissed. The charges stemmed from a year-long investigation into a commercial greenhouse owned by Robertson, where 240 cannabis plants were discovered. However, prosecutors were unable to prove the case beyond a reasonable doubt, citing issues with the search warrant and the fact that the plants had not yet flowered, meaning they did not contain THC. Robertson, who stepped down as mayor amidst the charges, expressed relief at the resolution and plans to return to farming.
Sunland Park Surges in Cannabis Sales
Sunland Park, New Mexico, has become the state’s fourth leading city in cannabis sales, exceeding $84.7 million. The city’s strategic location near El Paso and Juarez, where cannabis remains illegal, has contributed to its success. Mayor Javier Perea highlighted the city’s investment in community development using the revenue generated from cannabis legalization.
Michigan Marijuana Prices Reach Record Lows
In July, marijuana prices in Michigan plummeted to a record low, averaging $79.70 per ounce. Despite this price drop, the state experienced its second-largest sales month since adult-use legalization, reaching $286.4 million. Contributing factors include oversupply, price compression due to upcoming harvests, and competition from the illicit market. The influx of both outdoor and indoor-grown cannabis has driven prices down, with growers and processors aiming to clear out last year’s inventory.
Minnesota Nearing Cannabis License Lottery
The Minnesota Office of Cannabis Management (OCM) is in the final stages of vetting applicants for its cannabis business social equity lottery. Over 3,000 applications were received, with 2,307 verified for social equity. Of those, 1,817 applied for license preapproval. The OCM is currently processing these applications for 282 available slots. Once the vetting process is complete, a lottery will be scheduled, and applicants can stay updated through the OCM website. The OCM also released a draft of proposed rules for the state’s cannabis industry, inviting public feedback.
