The Business of Cannabis

Michigan December Cannabis Sales Nearly Top $280 Million, $3.08 Billion For 2023

Jan 17, 2024 | Feature, Great Lakes Region, Michigan

Michigan December cannabis sales totaled $279.9 million, up 7.5 percent from November and 26.2 percent from December 2022, the Cannabis Regulatory Agency reported. For calendar year 2023, cannabis sales generated $3.08 billion. Considering the average cost of an ounce...

Judge Tosses Lawsuits Stemming From Michigan’s Largest Marijuana Recall

Jan 17, 2024 | Feature, Great Lakes Region, Michigan

A Michigan Court of Claims judge on Jan. 2 dismissed two lawsuits linked to Michigan’s enormous 64,000-pound, $229 million 2021 marijuana recall that impacted an estimated 60% of all cannabis products in the state. The dispute centers on the Michigan...

Minnesota Regulators Crack Down On Cannabis Masquerading As Hemp

Jan 17, 2024 | Great Lakes Region

Minnesota’s cannabis regulators say they are developing an interagency plan to crack down on hemp retailers who are exploiting a legal loophole to pass off marijuana buds as industrial hemp. The state’s Office of Cannabis Management (OCM) said it suspects that some...

First Defendant In $14 million CBD Scam Gets 6½ Years In Prison, Fined $1.7 Million

Jan 17, 2024 | Canada

The founders of a Canadian hemp company who misappropriated funds and then threatened witnesses who testified against them have pled guilty in a New York federal court. Igor Palatnik and Vitaly Fargesen of CanaFarma Hemp Products Corp., Vancouver, were accused of...

Feds Release Marijuana Documents, Confirming Schedule III Recommendation Based On ‘Accepted Medical Use’

Jan 17, 2024 | National

The U.S. government has released hundreds of pages of documents related to its ongoing review of marijuana’s status under federal law, officially confirming for the first time that health officials have recommended the Drug Enforcement Administration (DEA) place...