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Montana recreational cannabis sales top $43 million in first quarter of 2022

by Travis C | Apr 11, 2022 | Blog, Business, Cannabis Business, Cannabis News, Culture, Industry News, Legalization

Montana recreational cannabis dispensary sales

In its first three months of operation, Montana recreational cannabis sales have surpassed $43 million, resulting in nearly $9 million in tax revenue for the state.

According to the state’s Department of Revenue, Montana recreational cannabis produced $43,537,110 in sales, compared to medical cannabis which generated $29,373,731 in sales during the same period.

Voters approved a ballot initiative to legalize Montana recreational cannabis in 2020, the same year three other states — Arizona, South Dakota and New Jersey — passed similar measures. However state officials wouldn’t approve regulations for a legal cannabis marketplace until October 2021.

This late action created a short deadline for the state’s Department of Revenue Cannabis Control Division to build out the framework for legal sales in Montana.

“The deadlines are aggressive,” Kristan Barbour, administrator of the Department of Revenue’s Cannabis Control Division, said at the time. “Really, the rules are our biggest challenge.”

“Our focus was really to be business-friendly and to try to work with the industry in a fashion that makes the rules adaptable to their current business structure and that they’ll be able to evolve into without a whole lot of pain,” Barbour added.

However despite the delays and tight deadlines, the Montana recreational cannabis market opened right on time, New Years Day 2022. On January 1 an estimated 380 dispensaries opened their doors in 29 counties across the state.

The state brought in an estimated $1.5 millions in adult-use sales in the opening weekend, a number that would snowball over the next couple months. While money isn’t the only reason a state like Montana would legalize cannabis, it is at the top of the list.

According to the Marijuana Policy Project, states have generated over $11 billion in tax revenue through legal cannabis. On average, a state with adult-use cannabis sales generated more than $3.7 billion in total revenue in 2021.

However another growing reason for multiple states legalizing cannabis is the failing War on Drugs. In 2018, 40% (yes, 40%) of all drug arrests in the US were for cannabis, typically possession. Think about the resources and dollars that go into arresting, processing, and housing all of these mostly non-violent offenders.

In March the Montana Supreme Court issued temporary rules for procedures that would allow those with past cannabis-related convictions to have them expunged. The state’s new cannabis law says “anyone convicted of an offense that would now be legal in the state can petition to have their conviction removed from their record, get a lesser sentence for it or reclassify it to a lesser offense,” according to local television station KPAX.

Just for comparison, Oklahoma, an equally red state with just a medical cannabis program that launched in 2019 brought in nearly $500 million in its first year of sales. Then the state nearly doubled that number in 2020.

Comparatively Montana recreational cannabis sales seem pretty miniscule. However it has only been three months. Should the trend continue, the state could easily see over $200 million in sales its first year.

NY Gov. Hochul signs conditional cannabis cultivation bill

by The Real Dirt | Feb 22, 2022 | Blog, Business, Cannabis Business, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Growing, Hemp, Industry News, Legalization

New York passes conditional cannabis cultivation licenses

With this legislation, NY is creating a new Conditional Adult-use Cannabis Cultivator license, allowing hemp farmers to grow cannabis in the 2022 growing season.

BUFFALO, N.Y. — New York Gov. Kathy Hochul signed new legislation on Tuesday that will allow hemp farmers in the state to apply for a conditional license to grow cannabis.

With this legislation, New York is creating a new Conditional Adult-use Cannabis Cultivator license, allowing hemp farmers to grow cannabis in the 2022 growing season. Conditionally licensed cannabis farmers must hit certain requirements under this law.

According to the governor’s office, some of the requirements include, “safe, sustainable and environmentally friendly cultivation practices, participation in a social equity mentorship program, and engagement in a labor peace agreement with a bona fide labor organization.”

“I am proud to sign this bill, which positions New York’s farmers to be the first to grow cannabis and jumpstart the safe, equitable and inclusive new industry we are building,” Hochul said. “New York State will continue to lead the way in delivering on our commitment to bring economic opportunity and growth to every New Yorker in every corner of our great state.”

Assembly Majority Leader Crystal Peoples-Stokes added, “Last year, after many years of fighting, we finally enacted the Marijuana Regulation and Taxation Act, and are beginning to undo the devastating impacts over 90 years of unequal enforcement of marijuana prohibition had on too many lives and communities. MRTA ensures that the legal adult-use market will be centered on equity and economic justice for communities of color and individuals that have been harmed most by the War on Drugs in the State of New York. With the passage of this bill, we have the opportunity to create a responsible start to the adult-use cannabis industry by authorizing temporary conditional cultivator and processor licenses to current New York hemp farmers. This authority will help secure enough safe, regulated, and environmentally conscious cannabis products to meet the demand of the adult-use cannabis market when retail dispensaries open. Importantly, this legislation calls for a Social Equity Mentorship Program, which will create a viable and inclusive path for social and economic equity partners interested in cannabis cultivation and processing to gain invaluable knowledge and experience in this emerging industry. The temporary conditional licenses authorized by this bill will ultimately help realize the vision and goals of the MRTA.”

Original Story from WGRZ 2

Missouri Cannabis Legalization Bill Introduced

by The Real Dirt | Feb 21, 2022 | 420 News, Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Legalization, Politics

Missouri is trying to introduce legal cannabis. It remains to be seen if it will pass or remain unattainable for the state.

A Missouri lawmaker introduced a comprehensive bill to legalize recreational cannabis on Tuesday. The measure, titled the Cannabis Freedom Act (HB 2704), was introduced in the Missouri House of Representatives by Representative Ron Hicks, a Republican from St. Charles.

If passed, the bill would legalize cannabis for adult-use, regulate recreational cannabis commerce and expunge convictions for past cannabis-related offenses. In a statement, Hicks acknowledged the assistance from interested parties and an Oklahoma colleague in drafting the legislation.

“The Cannabis Freedom Act is the product of input from many different stakeholders including members of law enforcement and those who have endured incarceration for conduct that society now deems acceptable,” Hicks said. “I am particularly grateful for input from Oklahoma State Representative Scott Fetgatter for his assistance in creating a free market program that is also strictly regulated.”

Missouri Cannabis Legalization Bill Permits Possession and Sale

Under the bill, adults 21 and older would be permitted to purchase and use recreational cannabis. Adults would be also be allowed to grow up to 12 cannabis plants at home for personal use.

The bill tasks the Missouri Department of Agriculture with regulating the recreational cannabis program. The department would draft the rules for the program and issue licenses for cannabis producers, manufacturers, distributors, and retailers, without caps on the number of licenses that could be issued to qualified cannabis businesses.

The Cannabis Freedom Act directs the state Department of Revenue to set a tax of up to 12 percent on recreational cannabis products. Medical cannabis purchases by registered patients would not be subject to the retail tax. Revenue raised by marijuana taxes would be used to administer the recreational cannabis program, with the remainder divided equally among the Missouri Veterans Commission and funding for teachers’ salaries and pensions for first responders.

Read Full Story on High Times

Mississippi medical marijuana legalized by Governor

by The Real Dirt | Feb 3, 2022 | Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Legalization, Medical Marijuana, Politics

Mississippi is legalizing medical marijuana for people with debilitating conditions such as cancer, AIDS and sickle cell disease.

Republican Gov. Tate Reeves signed the legislation Wednesday and it became law immediately. It could be months before the first marijuana dispensaries open.

“There is no doubt that there are individuals in our state who could do significantly better if they had access to medically prescribed doses of cannabis,” Reeves wrote in a statement posted to Twitter. “There are also those who really want a recreational marijuana program that could lead to more people smoking and less people working, with all the societal and family ills that that brings.”

The National Conference of State Legislatures says 36 states and four territories already allowed the medical use of cannabis. Mississippi becomes the 37th state.

“For all the people who are touched in some way by a loved one or someone they know who benefits from medical cannabis, this brings their quality of life back,” said Ken Newburger, executive director the Mississippi Medical Marijuana Association, a group that pushed for legalization.

A majority of Mississippi voters approved a medical marijuana initiative in November 2020, and it would have allowed people to buy up to 5 ounces a month. The state Supreme Court invalidated it six months later by ruling that the state’s initiative process was outdated and the measure was not put properly on the ballot.

The state House and Senate, both controlled by Republicans, passed the final version of Senate Bill 2095 last week.

The new law will allow patients to buy up to to 3.5 grams of cannabis per day, up to six days a week. That is about 3 ounces per month. It sets taxes on production and sale of cannabis, and it specifies that plants must be grown indoors under controlled conditions.

Read Full Story on ABC News

Thailand legalizes growing cannabis at home

by The Real Dirt | Jan 25, 2022 | Blog, Cannabis Law, Cannabis Law and Compliance, Cannabis News, Culture, Growing, Legalization, Medical Marijuana

BANGKOK (Reuters) – Thailand’s narcotics board on Tuesday said it would remove cannabis from its drugs list, paving the way for households to grow the plant.

Thailand became the first Southeast Asian country to legalise marijuana in 2018 for medical use and research.

Under the new rule, people can grow cannabis plants at home after notifying their local government, but the cannabis cannot be used for commercial purposes without further licenses, Health Minister Anutin Charnvirakul told reporters.

The rule must be published in the official Royal Gazette and 120 days must pass before home cannabis plants will become legal.

Meanwhile, the health ministry will this week present to parliament a separate draft bill which provides details on the legal use of cannabis, including its production and commercial use, including guidelines on recreational use.

Homegrown cannabis should be used for medical purposes like traditional medicine, food and drug regulator chief, Paisal Dankhum has said previously and that there would be random inspections.

The draft bill punishes growth of cannabis without notifying the government with a fine of up to 20,000 baht ($605.33) and prescribes a fine of up to 300,000 baht or three years in jail, or both, for selling it without a license.

The move is the latest step in Thailand’s plan to promote cannabis as a cash crop. About a third of its labour force works in agriculture, according to the World Bank.