What’s up in cannabusiness news this week? We curate and share everything you need to know.
Will weed soon be labeled by “organic” and “other” like produce? If you eat organic food, you eat less harmful chemicals, right? Will the same apply to weed? Marijuana growers are increasingly under big scrutiny for adding harmful chemicals to product. And, now a first: One grower is being sued for using (industry standard) chemicals in its product. It will be interesting how this plays out.
Oregon goes recreational
Last week, a limited amount of medicinal providers were allowed to sell recreational marijuana to Oregonians. How successful was that first week? About $11 million successful – that’s how much Oregon dispensaries made. Portland also fared well – and considering Vancouver, Wash., is just across the border and has been selling recreationally for quite some (and didn’t see less sales) that’s pretty amazing.
All eyes are on Ohio
No, it’s not an election year. Ohio will be voting this year on whether to legalize recreational and medical marijuana use and sales. What are the chances? A new poll by Quinnipiac University found that 53 percent of Ohio voters support legalizing "small amounts of marijuana for personal use,” while 44 percent oppose it. Support for medical marijuana is at a whopping 90 percent in favor. We’re watching this one closely.
Banking, marijuana and compliance – it ain’t easy
Let’s say you’re rolling in the money, business is great, profits are up. However (and this is a big however), many businesses are struggling with the lack of access to traditional banking. And that’s a problem: the inability to perform transactions carries considerable costs for legal cannabusinesses to stay compliant. Some companies, like CO-based MPS International, are trying to fix this where marijuana is legal. We’re rooting for them.
Not only are we in the know about the news – we know how to help market your cannabusiness. Let’s talk about how we can work together.