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Why the illicit cannabis makret is alive and well in California
Robert Hunt, principal at boutique cannabis consultancy, Shingle Hill, details the shortfalls of legalization that have allowed the illicit market to flourish in California and contemplates how to support the legal market.
Lawsuit pushes DEA to explain delays as applications for marijuana research pile up
For years, the Drug Enforcement Administration (DEA) has delayed applications for the cultivation and research of marijuana without explanation. Now, a new lawsuit has pushed the DEA for clarification. Due to stringent federal regulations, many scientists are forced to operate in the "gray area" between sanctioned and forbidden areas of research.
Massachusetts Bill To Give State Coronavirus Relief To Marijuana Businesses Gets Hearing
The recreational cannabis market in Massachusetts has been hit hard by COVID-19 due to the closure of all non-medical dispensaries by Governor Charlie Baker. These small businesses would, if not for their cannabis connections, qualify for essential federal Paycheck Protection Program (PPP) loans, but they are excluded because they operate in the "gray area" between state and federal law. Massachusetts lawmakers held a hearing to discuss the establishment of a state-level coronavirus relief program that would extend PPP benefits to the marijuana industry imminently.
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Adapting Until Things Make Sense: April 30, 2020
Cannabis companies, like all businesses, have been forced to adapt in response to the uncertainty created by COVID-19. Astute operators have used today’s challenging environment as an opportunity to prepare for the future by auditing cost structures, examining marketing practices, and increasing delivery and online presence during this pandemic. Evidence continues to support the idea that cannabis is a resilient, recession-resistant staple, and we are encouraged by cannabis operators that have adapted with curbside pick-up, delivery, and online payment to capture larger basket sizes for purchases.Those that continue “adapting until things make sense” will be well-positioned when uncertainty around COVID and, eventually, the industry clear.