The Business of Cannabis

Marijuana Is A More Valuable Crop Than Potatoes Or Rice, New Leafly Report

Nov 1, 2022 | National

The wholesale value of marijuana across 15 adult-use states has reached $5 billion—making it the sixth most valuable cash crop in the country, above potatoes and rice—according to a new report. And that’s not even accounting for the massive medical cannabis market...

Cannabis Stocks Rally Monday After Schumer Said Marijuana Banking And Expungements Bill ‘Very Close’

Oct 31, 2022 | National

Shares of U.S. and Canadian cannabis companies rallied Monday after Senate Majority Leader Chuck Schumer said Congress is “very close” to passing a cannabis banking and expungements measure. At a debate appearance on Sunday, Schumer said he’s made...

Flight From Hemp Continues In U.S., With Harvest Expected To Fall By Nearly Half

Oct 30, 2022 | National

The 2022 hemp harvest in the U.S. is expected to shrink by nearly half this year, falling from roughly 36,925 acres in 2021 to about 20,000 acres as all outputs are in decline, according to government figures and projections from Denver-based analyst PanXchange....

Canopy Growth Expecting U.S. Market To Top $50 Billion By 2026

Oct 25, 2022 | National

Canopy Growth Corp. said Tuesday it will no longer wait until federal legalization to buy three U.S. cannabis companies amid opportunities to benefit from strong growth in state-by-state cannabis sales. The holding company has an exchangeable share structure aimed at...

Lame-Duck Session Of Congress Could Pass SAFE Banking Act

Oct 19, 2022 | National

President Biden’s move to reevaluate marijuana’s legal status and pardon federal weed convictions has reinvigorated momentum for congressional action to boost the ailing cannabis industry.  Lawmakers see the lame-duck session as their best chance yet to pass...

Federal Reserve Bank Says Cannabis Legalization Drives Tax Revenue, Job Creation And Real Estate Sales

Oct 12, 2022 | Feature, National

State-level marijuana legalization has had a “significant” economic impact—generating jobs, tax revenue and impacting real estate—according to a new report from a Federal Reserve Bank district. The Kansas City arm of the central bank, which covers five full states and...