Marijuana Business Daily

Marijuana rescheduling hearing won’t happen until after general election

Published

3 months ago

August 26, 2024

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Marijuana won’t be downgraded from Schedule 1 to Schedule 3 of the Controlled Substances Act until December at the earliest, according to a U.S. Drug Enforcement Administration notice.

The DEA said in a notice that appeared on the Federal Register late Monday that the agency will hold a hearing on the proposal to reclassify cannabis under federal law at 9 a.m. ET on Dec. 2.

Anyone interested in participating in the hearing – provided they can prove they are a “person adversely affected or aggrieved by” the rule – will have 30 days from when the notice is officially published to file a request with the DEA.

Marijuana rescheduling silence comes to end

The four-page notice, signed by DEA Administrator Anne Milgram, is

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Marijuana firms Eaze, Green Dragon find new life after $10 million capital infusion

Published

2 days ago

November 12, 2024

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Newly rebranded California-based marijuana operator Eaze raised $10 million to acquire select assets of Eaze Technologies, its predecessor company, to fund the reopening of 70 Eaze and Green Dragon locations across California, Colorado, Florida and Michigan.

The now-defunct Eaze Technologies, which purchased Denver-based Green Dragon about three years ago, announced in October that it would close its Colorado and Florida operations.

Billionaire Jim Clark, founder of defunct tech company Netscape, provided the funding, which was announced Tuesday, and now has controlling ownership of the new entity, Eaze.

CEO Cory Azzalino said the company does not intend to reimagine its business model, which it shifted four years ago from a delivery platform to a plant-touching entity.

“The focus going forward will be continued expansion

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Oregon voters approve pro-labor change to state cannabis law

Published

6 days ago

November 8, 2024

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Voters in Oregon appear to have approved an organized labor-friendly change to state cannabis law that’s had mixed results in other states.

With more than 80% of ballots counted, 55.7% of state voters cast yes ballots on Measure 119, which will require cannabis operators in the state to submit a “labor peace agreement” to regulators before receiving or renewing business permit, Oregon Public Broadcasting reported.

The voter initiative’s main sponsor was the United Food and Commercial Workers (UFCW) Local 555, which spent more than $2.8 million on the campaign after a failed attempt to impose a labor peace agreement (LPA) requirement through the state Legislature.

Several other states, most notably California, require cannabis businesses to have an LPA as part of licensing

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Infused beverages lead marijuana product sales spike on Election Day

Published

6 days ago

November 8, 2024

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Marijuana product sales jumped nearly 6% on Election Day compared to the previous three Tuesdays, according to Seattle-based cannabis industry analytics provider Headset.

Nearly every product category experienced an increase in sales in the 15 regulated U.S. marijuana markets tracked by Headset.

THC-infused beverages were the product of choice for many cannabis consumers on Election Day; sales in that category jumped 14.2% on Tuesday, the biggest increase in any segment.

Beverages typically account for 1% or 2% of retail sales, although infused beverage sales spike during the holidays, when social gatherings increase, according to Headset Data Analyst Mitchell Laferla.

“In 2024, the Beverage category saw the largest spike in total sales across all categories on 4/20, 4th of July, and Labor Day,”

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