Trump VP pick Vance opposed marijuana banking but silent on legalization

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4 months ago

July 16, 2024

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U.S. Sen. JD Vance, the Ohio Republican whom Donald Trump picked as his running mate for the November presidential election, is no supporter of federal marijuana reform.

Nor did the 39-year-old former investment banker and “Hillbilly Elegy” author support adult-use marijuana legalization in Ohio last year.

But Vance doesn’t appear to be much of a cannabis-culture warrior, either, preferring instead to spend his political capital elsewhere.

No ‘friend’ of marijuana industry

“Is Vance a friend of the industry? Absolutely not,” Steve Schain, a Philadelphia-based attorney who specializes in cannabis banking and taxation issues, told MJBizDaily by phone on Tuesday.

“His first and only concern is fortifying and furthering his federal role.

“That being said, like most classic libertarians, he doesn’t want to disturb

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

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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

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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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