Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories for the week of October 21st – 27th, 2019.
Without further ado, let’s get started.
10. German Cannabis Market Could Reach $18 Billion by 2028
Germany Legalized Medical Marijuana in 2017, by 2018, There Were Already Roughly 60,000 Patients
Prohibition Partners, a European research firm focused on the cannabis industry, has released the first edition of “The Germany Cannabis Report,” a 58-page study in which the organization analyzes the landscape of the German cannabis market.
READ FULL GERMANY CANNABIS ARTICLE
9. Ontario Studies Greater Private-Sector Role in Cannabis Distribution
Ontario Cannabis Retail Corp. Reported a $42 Million Loss in its First Year of Operation
Ontario’s cannabis agency is looking at ways to boost the private sector’s role in the wholesale distribution of cannabis amid industry concerns that the provincial wholesaler is stocking products that consumers don’t want at prices that can’t compete with the black market.
READ FULL ONTARIO CANNABIS ARTICLE
8. Approval of Cannabis Vapes in Canada Comes in Midst of Health Scare
U.S. Health Officials Have Reported 1,299 cases of Lung Injuries and 26 Deaths
The regulation of cannabis vape pens in Canada arrives in the middle of widespread concern over an outbreak of serious lung ailments and deaths linked to vaping.
READ FULL CANADA VAPES ARTICLE
7. U.S. Tax Court Rules Cannabis Deductions are Not Allowed
The Ruling Stems From a Plea From Northern California Small Business Assistants, Which Received a $1.5 Million IRS Tax Bill
The U.S. Tax Court again ruled that Section 280E of the Internal Revenue Service (IRS) tax code is constitutional and cannabis companies aren’t entitled to common business deductions.
READ FULL U.S. CANNABIS TAX ARTICLE
6. Illinois’ Medical Cannabis Program Sees Record Growth
37,000 New Patients Registered in the Fiscal Year Ending June 30, Following Changes in the Law That Expanded Access
More than 87,000 patients have qualified for the program since medical cannabis dispensaries opened in November 2015, according to The Register-Mail, and 37,000 new patients registered in the fiscal year ending June 30, which is a 93% increase and exceeds the number of patients who signed up in any other fiscal year.
5. Antitrust Cloud Lifting on Cannabis M&A Deals
Will Some be Renegotiated – or Even Abandoned?
Chicago-based Cresco Labs (CSE: CL) (OTCQX: CRLBF) said Wednesday its proposed acquisition of Canada-based Origin House (CSE: OH) (OTCQX: ORHOF) had cleared a key hurdle after the “waiting period” for federal antitrust review of the deal had expired under the Hart-Scott-Rodino law.
4. The Vaping Illness Outbreak is Strengthening the Argument for Legalizing Marijuana
Black Market THC Products are now a Public Health Problem Because Regulations Haven’t Kept Up
As this data has emerged, the outbreak is looking less like a story about general vaping risks and more about the harms of vaping certain THC products.
3. Super-Majority of Americans Support Legalizing Marijuana
Gallup Poll Says 66% of Respondents Endorse Legalization
A super-majority of Americans, including majorities of Democrats, Republicans and Independents, support making marijuana use legal in the United States, according to nationwide polling data compiled by Gallup.
READ FULL LEGALIZATION POLL ARTICLE
2. Top Analyst Says Vape Crisis Won’t Hurt Legal Cannabis Sales
New Vaping Report by GMP Securities Includes Detailed Discussions with Industry Experts
GMP Securities released a new report this week detailing the vape crisis and its potential impact on the United States cannabis market.
1. Bernie Sanders Reveals Detailed Cannabis Legalization Plan
If Elected, 2020 Presidential Candidate Bernie Sanders Vows to Legalize Cannabis in First 100 Days in Office
This past Thursday at 4:20 pm EST, 2020 Presidential Candidate Senator Bernie Sanders released a comprehensive plan to legalize cannabis nationwide in the United States.
READ FULL BERNIE SANDERS ARTICLE
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