July Newsletter 2022

August 1, 2022 | Written By Cannabis Practice Group

July Cannabis Newsletter
  • Medical Marijuana - Is your Medical Marijuana Card going to disqualify you from a license to carry a concealed weapon?

  • The Drop in Cannabis Prices: What's Behind It?

  • Cannabis Administration and Opportunity Act


Medical Marijuana - Is your Medical Marijuana Card going to disqualify you from a license to carry a concealed weapon?

Some states allow full sales of cannabis products, but some only allow for medical use sales. In states that only allow for medical-use sales of cannabis products, the trend is that users must get a prescription for cannabis products and carry a medical marijuana card to show they are permitted to purchase cannabis products. One of the most recent states to take a step towards legalizing sales of medical-use cannabis products is North Carolina.  Read more ...

The drop in cannabis prices: what's behind it?

As inflation has increased the cost of groceries, gas, and other products, cannabis is one industry that is actually providing a cost decline to consumers. The drop in the price of wholesale cannabis in numerous states has been dramatic.  Just recently, the wholesale price of cannabis flower in Colorado, as measured by the Department of Revenue, dropped to an all-time low. The price per pound was $709 as of July 1, down 46% from $1,309 a year ago and more than 50% from $1,721 in January 2021, according to Department of Revenue data. The previous low was in October 2018 when the price hit $759 a pound.  Bear in mind that these are quarterly snapshots, so specific price fluctuations are to be expected.  That said, the data informs the degree of price depression in the market. And, as we had previously discussed in our Above the Haze video series, Colorado cannabis sales in dollar amount have also declined for 12 consecutive months.  Indeed, flower prices in Colorado have continued to steadily decline since 2020 with the cheapest wholesale flower in the US after only Oregon. Read more ...


Cannabis Administration and Opportunity Act

The reality of cannabis right now is that every year more and more legislative initiatives are proposed and filed in Washington that seek to decriminalize, legalize, or otherwise protect cannabis businesses throughout the US. Most recently, the Cannabis Administration and Opportunity Act was filed by Senator Charles Schumer (D-NY) would decriminalize cannabis on the federal level allowing states to create their own cannabis programs without fear of reprisal from the feds. Read more ...

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