NYC Mayor Adams proposes $4.8M to promote growth of cannabis industry

The funding will be used to fund a multiagency community outreach effort, focusing on the communities most impacted by the “war on drugs.” Further, it will be allocated to provide technical assistance for businesses navigating the licensing process. The adult-use cannabis industry in the state is expected to generate nearly $1.3 billion in sales in […]

Late license approval sets New Jersey on smoother path to adult cannabis

Responding to scrutiny from the president of the state senate, New Jersey’s Cannabis Regulatory Commission , to expand into the adult-use market later this year. The state also remains dogged by critiques that it has failed to create a reliable and fair system for allocating scarce medicinal and recreational cannabis licenses. Pangaea was the lead […]

Cannabis cultivation firm details New Jersey operation approval – Financial Regulation News

AWH serves as one of New Jersey’s first operators to begin adult-use sales in the coming weeks – initially via its flagship Ascend Rochelle Park dispensary. The New Jersey Cannabis Regulatory Commission approved AWH to begin adult-use cultivation and manufacturing operations at its Franklin, New Jersey, facility. …Read the full story

Cannabis sales generated $3.7B in tax revenue in 2021 – Financial Regulation News

The legalization and regulation of cannabis for adults has generated billions of dollars in tax revenue, funded important services and programs at the state level, and created thousands of jobs across the country. Since 2014 since Colorado and Washington first legalized cannabis, states reported a combined total of $11.2 billion in tax revenue from legal, […]

Connecticut accepting adult-use cannabis licenses – Financial Regulation News

“This is an exciting step toward opening the adult-use cannabis market,” said DCP Commissioner Michelle H. The department said applicants are encouraged to submit “the most thorough and complete application possible” when applying for the cannabis licenses and not rush through their application. …Read the full story