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by Meg Ellis

Illinois state Sen. Heather Steans and state Rep. Kelly Cassidy plan to introduce new legislation which would fully legalize marijuana when the legislature reconvenes in January.

Steans and Cassidy both previously introduced legislation attempting to legalize recreational cannabis earlier this year, but both bills failed to pass.

[Trulieve stock tanks following report of record third-quarter revenues for Florida’s top medical cannabis provider]

Steans feels that with the recent Democratic wins in both the legislature and the gubernatorial race, the legislative landscape is primed for the legalization of recreational marijuana.

“It is a more encouraging landscape, for sure,” Steans told the…


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by Alexis Grace

Investors might not be paying attention to the business that supplies an estimated 70 percent of the medical marijuana to Florida and has the highest revenue of any other North American cannabis company. United States-based Trulieve Cannabis Corp. (OTC:TCNNF) (CSE:TRUL) operates 21 dispensaries in Florida, providing medical marijuana to patients across the state. The company began trading on a Canadian exchange this past quarter.

Trulieve announced its financial results for the third quarter ended September 30, 2018, before market hours Monday morning. Many traders bet on a successful earnings call in the days leading up to the announcement judging by…


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by Brandon A. Dorfman

One time anti-cannabis crusader Joe Kennedy III, the Democratic Congressman from Massachusetts 4th District, has come out in favor of legalization in an op-ed published on the health website STAT on Tuesday. Kennedy, whose state began selling recreational cannabis on the same day, becomes the last Democratic holdout on the issue.

“One thing is clear to me: Our federal policy on marijuana is badly broken, benefiting neither the elderly man suffering from cancer whom marijuana may help nor the young woman prone to substance use disorder whom it may harm,” wrote Kennedy in the op-ed. “The patchwork of inconsistent state…


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by Sean McCaughan

The CBD-infused cocktail craze was huge in Los Angeles until very recently, reported Eater. Big changes began when the L.A. Department of Health took a strong anti-cannabis stance in July. It was exacerbated in September when the California State government made the combination of any kind of cannabis and alcohol illegal, forcing the remainder of restaurants serving up the popular combo to quickly pull CBD from their menus.

[Canada prepares for second wave of cannabis legalization: Edibles, drinks, and other goodies]

Almost every bar and restaurant — except for two, according to Eater — eliminated CBD from their menus immediately…


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by Rick Schettino

Although Washington D.C. lawmakers are still haggling over some of the details of the 2018 Farm Bill, a provision in the bill which would legalize hemp nationwide will be in the final version to be signed by President Trump, according to Senate Majority Leader Mitch McConnell.

Shortly after the midterm elections, McConnell pledged that the Farm Bill will be among his top priorities when Congress reconvenes. “We’re trying right now to make sure there’s a farm bill and before the end of the year,” McConnell told reporters in his home state of Kentucky last week. …


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by Meg Ellis

Earlier this year California passed a law which added language to the Health and Safety Code, expedites the identification, review, and notification of individuals who might be eligible for the dismissal, dismissal, and sealing, or redesignation of specified cannabis-related convictions. It’s a small, but a significant first step in addressing America’s decades-old war on drugs.

While the law is a crucial opportunity for those with cannabis convictions on their records, critics argue that it’s not without its issues. …


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by Brandon A. Dorfman

Canopy Growth Corp. (TSX:WEED) (NYSE:CGC) saw revenues fall for the first time in three years according to their second quarter financial results for the fiscal year 2019, which management attributed to the company’s marketing push in preparation for the legalization of cannabis in Canada last month. According to CEO Bruce Linton, Canopy Growth spent the weeks before legalization “stress-testing” sales systems in the Canadian provinces which led to a drop in medical marijuana sales. …


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by Alexis Grace

MedMen Enterprises Inc. (CSE:MMEN) (OTCQB:MMNFF), announced on Friday that Canaccord Genuity would buy over 17 million units of the company on a bought deal basis to help raise up to 120 million Canadian dollars ($90 million). Canaccord has the option to purchase up to an additional 2.6 million units at the same price, exercisable any time on or before the date that is 30 days following the close of the offering. All told, it would result in MedMen raising an another CA$18 million ($13.6 million).

According to a statement, proceeds from the transaction will be used to finance the company’s…


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by Meg Ellis

Cannabis arrest rates are currently falling in New York City, with new data from the Drug Policy Alliance showing that marijuana-related offenses are down as much as 97 percent over the last few years. According to the data, marijuana arrests reached an all-time high, in 2010. When more than 4,300 people were arrested for pot possession and similar activities. In comparison, only 151 cannabis users were arrested this past September in the city.

According to reports, the steep drop is attributable, in part, to new NYPD marijuana enforcement guidelines that took effect in September of this year.

[Francis Ford Coppola…

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