San Jose, a city known for its thriving cannabis industry, is facing a significant drop in cannabis tax revenue this year. The decline, projected to be in the millions, is attributed to the growing competition from the black market and cannabis delivery services. With a predicted $19 million budget shortfall…
In a surprising turn of events, Laguna Woods, a city in Orange County known for its high percentage of senior citizens, is considering welcoming local cannabis shops. This move is a testament to the growing recognition of the medicinal and recreational benefits of marijuana among all age groups, including seniors.…
The cannabis industry’s first anti-trust case to reach trial was decided in favor of pot shop owners who alleged they’d been illegally edged out of the market by a would-be competitor’s unfair business practices. Jurors awarded $5 million (tripled to $15 million under the Cartwright Act) plus attorney’s fees. In…
Prosecutors for the U.S. attorney’s office in the Eastern District of California have launched a grand jury subpoena, calling for records from Californian marijuana based companies, including the parent company of Weedmaps. Criminal prosecutors for the U.S. attorney ordered records from 30 cannabis companies, including Ghost Management Group LLC, owner…
Three separate law suits have been filed, alleging that a Californian-based marijuana company and its key executive defrauded $1.2 million in loans from investors. The suits allege that Case Mandel and his Cannadips business operations, used fictional projections — inflated by as much as 2,000 percent — to deliberately mislead…
Arroyo Verde farm, owned by Barry Brand in Carpinteria, was considered a prime example of how a legal cannabis business could flourish under close regulation from Santa Barbara County. Then in January, a sheriff-led raid of the farm found evidence to suggest the farm was not only selling licensed products,…
California’s cannabis industry is sitting on a not-so-well kept secret — that many of its licensed, above board, legal business operators have also traded unlawfully, at some point, and to one extent or another. As many industry insiders have echoed, anyone turning a profit in this new era, has to…
Sacramento, California could lead the way in showing other cities throughout the state how to institute new, and broaden existing, marijuana social equity plans. A number of Californian municipalities are yet to meet the ideal cannabis social equity standings, largely due to cannabis businesses tussling with numerous other issues, like…
California lawmakers, in late January, breathed new life into a proposal that could cut the state’s taxes on marijuana for the short term, to help boost the struggling legal market. Gov. Gavin Newsom has shown his support for the bill, as he now takes aim at updating California’s cannabis regulations.…
The state of California has now permitted the legal use of marijuana for two years. And tax dollars collected from the cannabis industry are already showing great impact across a variety of sectors. Since its passing in 2016, Prop 64 has earmarked its entire cannabis industry tax revenue, minus regulatory…