United States

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Medical Marijuana: It's here. It's legal. What Ohio business leaders need to know.

A lot of confusion and misinformation still surrounds the Ohio Medical Marijuana Control Program, according to state and industry experts.

In March, the Columbus Chamber of Commerce hosted a panel discussion on the business benefits and challenges of Ohio’s medical marijuana law.

House Bill 523 authorized a basic framework — legalized medical marijuana for qualifying medical conditions, but prohibited its use by smoking or combustion — and made Ohio one of 28 states to establish a public medical marijuana program. But it left state agencies to establish specific rules and guidelines.

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No wonder marijuana stocks are soaring! Support for legalizing weed just hit an all-time high

The marijuana industry is the hottest thing since sliced bread, and marijuana stocks are thriving as a result. Here's a quick rundown of how some of the industry's largest players' stock prices have performed over the trailing 12 months:

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Medical marijuana is about to become big business in southwest Michigan

Medical marijuana has been a recent hot topic in many southwest Michigan communities. And it’s about to become big business here, too.

Two proposed ventures for Buchanan could bring investments of $500,000 to $1 million to the small town.

And even larger, multimillion-dollar commercial cannabis operations in this blossoming industry recently decriminalized by the state of Michigan are being proposed for Galien Township.

For this rural community, it could amount to an economic shot in the arm — in property tax payments and jobs alone — if MedFarm of Michigan opens its midsized grow operation and processing plant here.

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The Ferrari-driving millionaire 'Cannabis Club' owner who legally deals

It’s 3am in Beverly Hills and an A-list actor, in the throes of a marathon sex session with five young women, reaches across the silk sheets for his phone.

But the woman he has on speed-dial is not being summoned to join in.

Despite her glamorous looks, Cheryl Shuman is no ­support actress. She is Hollywood’s favourite producer – of top-quality cannabis.

After taking his call, the 57-year-old mum-of-two changes into an all-black outfit of jeans, T-shirt and high heels, packs her antique doctors’ bag and heads across town in her red Ferrari.

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May

Local edible marijuana producer discusses new Washington state regulation

A new state law will change the way edible marijuana will be regulated. Edibles will soon be subject to the same oversight as other foods.

Some edible producers are concerned about how this will affect their business. Scott Whipps is the owner of Eleven Window Ventures in Spokane Valley. He said his is one of about a thousand businesses that grow marijuana and also make edibles throughout the state. He said the industry is very competitive.

"As a small company it's tough to compete and actually make money,” Whipps said. "Definitely pushes down what I can charge for my products greatly, and basically it's been a race to bottom in terms of product pricing."

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A national medical marijuana program would save Medicaid $1 billion a year

The marijuana industry is growing like a weed. Last year, legal weed sales grew by 34%, according to cannabis research firm ArcView, and by 2021, legal sales (which includes medical and recreational pot) are expected to exceed $22 billion. Investment firm Cowen & Co. has an even more bullish forecast on legal weed, calling for $50 billion in sales by 2026. These estimates are what have revenue-hungry state governments, as well as investors, drooling with excitement.

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May

The legal reason why a conservative lawmaker delivers marijuana in Georgia

Medical marijuana is legal in Georgia. Kind of.

Though the state passed a measure legalizing medical cannabis in 2015, it remains illegal to buy, sell, or grow the plant. That's why Georgia Rep. Allen Peake, a conservative Christian who sponsored the legalization bill, runs an underground "distribution network" to get the medicine to registered patients throughout the state.

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VT. House expected to consider marijuana legalization next week

State lawmakers begin their final scheduled week of the session next week, and among the high-profile bills expected to attract plenty of attention is the long-delayed House bill to legalize marijuana.

Bill H. 170 has been stuck in the Human Services Committee for weeks, referred there suddenly after the first floor vote suddenly appeared at risk of defeat.

Late Friday, the committee voted to dislodge H. 170, sending it on to the House floor in a 5-4-2 vote.

Committee Chairwoman Ann Pugh, a South Burlington Democrat, said her panel added language to address some concerns about youth access to marijuana -- explicitly prohibiting pot near schools, and all public consumption.

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Justice department says people in marijuana business can't use bankruptcy

People who make money from the marijuana industry can't use the federal bankruptcy courts when they get into financial trouble, says a Justice Department bankruptcy watchdog.

U.S. Trustee Program director Cliff White wrote a letter to trustees who handle consumer bankruptcy cases earlier this week reminding them that the drug is illegal under federal law and warning them not to handle any money from the sale of marijuana-related property.

The one-page letter, sent on Wednesday, said the Justice Department division has seen an increase in the number of bankruptcies where "marijuana assets" are disclosed.

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