Unity Rd., the first medical marijuana dispensary in South Dakota, is shutting its doors after facing numerous obstacles and a challenging legal environment. The closure comes on the heels of the state’s rejection of recreational cannabis legalization and highlights the ongoing struggles of the cannabis industry in the state.
The 2024 US elections brought a mixed bag for cannabis reform efforts. While some states saw advancements like the legalization of medical cannabis in Nebraska and the decriminalization of small amounts in Dallas, Texas, others, including Florida, North Dakota, and South Dakota, rejected adult-use legalization. These varying outcomes underscore the complex and evolving landscape of cannabis policy across the nation, showcasing both growing support and persistent opposition.
Trulieve Cannabis Corp. (TCNNF) reported a 3% revenue increase in Q3 2024, reaching $284 million. However, net loss widened to $60 million, driven by campaign support expenses and other non-recurring charges. The company remains optimistic about Florida’s upcoming vote on cannabis legalization, positioning itself to capitalize on potential recreational sales next spring.
Uruguay’s regulated cannabis market is not only providing safe access to cannabis for consumers but also effectively diverting funds away from criminal organizations. The introduction of new strains like Epsilon with high THC content has generated significant demand, demonstrating the success of the regulated system in meeting consumer preferences. This shift in revenue towards legal sales is proving to be a powerful tool in combating drug trafficking and ensuring the economic well-being of the country.
Josh Kesselman, founder of RAW Rolling Papers, criticizes politicians for their stance on cannabis legalization, accusing them of hypocrisy and prioritizing corporate interests over genuine support for the plant. He emphasizes the importance of education, advocacy, and community support for real change in the cannabis industry.
Trulieve Cannabis Corp. CEO Kim Rivers is calling out anti-cannabis ads in Florida as misleading and fear-mongering. She argues that Amendment 3, which would legalize recreational cannabis for adults, is about economic growth and opportunity, not creating a monopoly. Rivers also addressed concerns about child safety, emphasizing strict packaging regulations that would remain in place.
Colombia, a pioneer in medical cannabis legalization in Latin America, is on the cusp of a major shift in its cannabis policy. A new draft decree proposes allowing the sale of dry cannabis flower, a long-awaited change for patients who have been restricted to compounded formulations and other products. This move, however, faces regulatory hurdles and scientific concerns, potentially delaying access to dry flower for patients by at least a year and a half.
Australia-based cannabis grower and producer Little Green Pharma (LPG) saw a significant jump in revenue for the quarter ending September 30, 2023, driven by strong growth in European markets, particularly France, where full legalization is expected in 2025. The company’s oil and flower sales increased significantly, highlighting the growing demand for medical cannabis in Europe.
As the 2024 election draws near, four states – Florida, North Dakota, South Dakota, and Nebraska – are poised to reshape their cannabis landscapes with significant ballot measures. From full adult-use legalization to limited decriminalization and medical cannabis proposals, these initiatives are generating intense debate and could lead to a shift in the nationwide cannabis landscape. This article explores the specifics of each state’s measure, examines current polling data, and highlights the potential implications for the future of cannabis in these states.
Former Congressman Joe Garcia, a strong advocate for Amendment 3, the cannabis legalization measure on the Florida ballot, argues that legalization is a step towards sensible drug policy, citing research on marijuana’s potential to reduce opioid dependence and generate significant revenue for the state. He also addresses concerns about teen use, highlighting the potential for stricter regulations to mitigate risks.
