Cannabis Industry News &amp; Updates

SAFE Banking Is Back. What It Could Mean for Cannabis Banking - mg Magazine

SAFE Banking Is Back. What It Could Mean for Cannabis Banking mg Magazine

Jul

Gov. Jim Pillen signs off on medical marijuana rules approved by Nebraska attorney general - KETV

Gov. Jim Pillen signs off on medical marijuana rules approved by Nebraska attorney general KETV

Hilgers signs off on Nebraska medical cannabis laws Nebraska Public Media

Jun

Coast Guard recovers 50 pounds of marijuana in the Gulf - WABI

Coast Guard recovers 50 pounds of marijuana in the Gulf WABI

New York's Office of Cannabis Management issued its first product recall of 2026 after inspections revealed Keystone State Testing had issued inaccurate product safety certificates. A records audit found 54 product lots falsely reported as passing contaminant testing, spanning multiple brands and several months of sales. The OCM ordered immediate removal of affected products from retail shelves statewide and launched an investigation into the laboratory. The recall is the latest in a series of lab integrity failures across US cannabis markets and underscores ongoing concerns about potency inflation and falsified safety testing. For cannabis operators, the recall reinforces the importance of choosing testing labs based on accreditation and track record rather than price alone.

A Congressional Research Service report found that whether Section 280E violates the Eighth Amendment's Excessive Fines Clause 'is a matter of debate' among legal scholars. The report noted that while the US Tax Court ruled in 2019 that 280E does not violate the Excessive Fines Clause, other courts have not had occasion to rule on the question, and the Harborside case left open several constitutional arguments that have not been fully litigated. The CRS analysis arrives amid multiple pending Tax Court challenges to 280E by cannabis operators. For cannabis businesses and their CPAs, the report is significant because it signals that congressional staff take the constitutional challenge seriously, which could influence any legislative response to rescheduling and 280E repeal efforts.

House and Senate Appropriations Committees released a bipartisan funding package that removed previously attempted language blocking the DOJ from using appropriated funds to reschedule cannabis. The rider had been included in earlier drafts by opponents seeking to freeze the administrative process, and its removal represents a significant retreat by cannabis reform opponents in Congress. The stripped rider clears one potential political obstacle to the DEA completing its Schedule III rulemaking. For cannabis operators watching the rescheduling timeline, the appropriations retreat suggests meaningful bipartisan accommodation even if formal legislation continues to stall, and reduces the risk of Congress halting the administrative process mid-stream.

Jan

Michigan's 24% Cannabis Wholesale Tax Takes Effect Despite Industry Lawsuit

Michigan's new 24 percent wholesale cannabis tax took effect January 1, 2026 after a state court judge denied the cannabis industry's request for a preliminary injunction. The tax is projected to generate roughly $420 million annually for the state general fund and is layered on top of existing excise and sales taxes. Industry groups argue the tax will drive consumers back to the illicit market and force small operators to close, particularly in border regions where Ohio and Illinois offer lower tax rates. For Michigan cannabis operators, the tax represents a major margin hit on top of existing Section 280E exposure, and is already prompting some multi-state operators to slow expansion plans in the state.

Michigan cannabis retailers sold more cannabis product units than any previous year, but plummeting wholesale and retail prices drove total revenue down $113 million to $3.17 billion. The rising volume with falling revenue dynamic illustrated the broader industry challenge of oversupply outpacing demand growth in mature markets. Flower prices in Michigan fell by double-digit percentages during 2025, with some cultivators reporting wholesale prices below break-even. The data suggested that market maturity is arriving faster than operators planned for. For cannabis businesses in Michigan, the numbers reinforced that operational efficiency and cost discipline are now the primary path to profitability rather than simply expanding production.

November 2025

Nov

California Cannabis Sales Dip Below $4 Billion

California cannabis retailers reported $3.9 billion in total sales for 2025, down from $4.2 billion the previous year, marking the third consecutive year of sales decline in the largest legal cannabis market. The illicit market remained a dominant force, with the California Department of Cannabis Control reporting record product seizures and enforcement actions throughout the year. Industry analysts attributed the decline to high state and local taxes, extensive local bans on commercial cannabis activity, and persistent price competition from unlicensed operators. For California cannabis businesses, the continuing decline signaled that regulatory reform, tax relief, and enforcement against illicit operators were all needed to stabilize the market.

Nov

Trump Signs Federal Ban on Intoxicating Hemp Products

President Trump signed legislation banning most intoxicating hemp-derived THC products, effectively recriminalizing the roughly $28 billion hemp THC market built since the 2018 Farm Bill. The ban limits hemp products to 0.4 milligrams total THC per container and takes effect November 13, 2026, giving hemp businesses approximately one year to transition or wind down. The law was driven by state cannabis regulators, public health groups, and state-legal cannabis operators who argued unregulated hemp THC products undermined tested, taxed cannabis markets. For state-legal cannabis operators, the ban removes a major source of unregulated competition, though hemp-diversified operators face significant disruption to their product lines and supply chains.

October 2025

Oct

Michigan Passes 24% Wholesale Cannabis Tax, Industry Files Lawsuit

Michigan Governor Gretchen Whitmer signed legislation imposing a new 24 percent wholesale tax on cannabis, layered on top of existing 10 percent excise and 6 percent sales taxes. The new tax was expected to generate roughly $420 million annually for the state general fund, with proceeds earmarked for infrastructure and education. The Michigan Cannabis Industry Association immediately filed a state court lawsuit arguing the tax violated the voter-approved legalization framework. Industry groups warned the tax would drive consumers back to the illicit market and force small operators out of business, particularly in border counties near lower-tax Illinois and Ohio. For Michigan cannabis operators, the tax represented a major profitability hit on top of federal 280E exposure.

September 2025

Sep

California Governor Signs Excise Tax Rollback to 15%

California Governor Gavin Newsom signed legislation rolling the state cannabis excise tax back from 19 percent to 15 percent, reversing a 2024 increase that had been triggered automatically by a statutory formula. The bill also froze the rate through June 2028, providing operators tax predictability after years of shifting regulatory and fiscal burdens. The rollback came amid growing evidence that high California cannabis taxes were driving consumers back to the illicit market, which still accounted for roughly two-thirds of total cannabis spending in the state. For California cannabis operators, the rollback offered meaningful margin relief but was not enough to resolve the structural oversupply and illicit market pressures.

Sep

Minnesota Launches Recreational Cannabis Sales

Minnesota became the 23rd US state with a legal adult-use cannabis retail market when non-tribal licensed dispensaries began sales, two years after the state legalized possession in 2023. The long delay was due to extensive licensing and regulatory framework development, tribal consultation, and staffing at the new Office of Cannabis Management. Multistate operator Vireo Growth led the initial launch with eight retail locations, positioning itself as a major early mover in the new market. Minnesota's licensing framework emphasized social equity and micro-licensing tiers. For cannabis operators, Minnesota represents one of the last large Midwest markets opening for adult-use, with estimated annual sales potential of $1-1.5 billion at maturity.

August 2025

Aug

Nevada Cannabis Sales Drop 8.6% Amid Tourism Slump

Nevada annual cannabis sales dropped to $758 million, down 8.6 percent year-over-year, mirroring a broader decline in Las Vegas tourism and convention traffic. The decline was particularly concentrated in Las Vegas dispensaries serving tourist customers, while Reno and other local markets remained relatively stable. Nevada regulators signaled openness to easing restrictions on hotel cannabis delivery and on-property consumption to recapture tourism dollars lost to the underground market. For cannabis operators, the Nevada slowdown highlighted the vulnerability of tourism-dependent cannabis markets to macroeconomic conditions and reinforced the need for consumption lounge expansion and hospitality integration to stabilize revenue.

Aug

DEA Judge Retires, Leaving Cannabis Rescheduling in Limbo

DEA Administrative Law Judge John Mulrooney retired without ruling on the pending interlocutory appeals in the cannabis rescheduling proceeding, leaving the agency with no active administrative law judge to oversee the hearing. His departure shifted all pending procedural matters to newly confirmed DEA Administrator Terrance Cole, effectively pausing the rescheduling process indefinitely. The DEA had no immediate successor lined up and gave no timeline for resuming the administrative process. For cannabis operators, Mulrooney's exit was a significant practical setback: even with strong executive branch support for rescheduling, the process cannot advance without an administrative law judge to handle the procedural record.

July 2025

Jul

Senate Confirms Terrance Cole as DEA Administrator

The US Senate confirmed Terrance Cole as DEA Administrator by a 50-47 vote, with Cole refusing during his confirmation hearing to commit to completing the Schedule III cannabis rulemaking. Cole later omitted cannabis rescheduling entirely from his stated strategic priorities for the agency, signaling a deprioritization of the process despite HHS recommendations and Biden administration pressure. The appointment came at a critical moment for the rescheduling timeline, just months before President Trump's December 2025 executive order demanded expedited completion. For cannabis operators watching federal timing, the confirmation added uncertainty to whether DEA leadership would actively advance the rescheduling process.

Jul

Massachusetts Cannabis Lab Shuttered Over Fraud Allegations

Massachusetts cannabis regulators suspended Assured Testing Laboratories, which handled roughly 25 percent of the state's cannabis testing volume, after finding its yeast and mold failure rate was 90 times lower than the industry average. Investigators alleged the lab engaged in 'dry-labbing,' the practice of reporting test results without actually running samples through analytical instruments. The suspension disrupted testing for dozens of cultivators and triggered a broader audit of cannabis lab accreditation across Massachusetts. The case was one of several high-profile lab integrity enforcement actions across US cannabis markets in 2025. For cannabis operators, the enforcement underscored the importance of choosing labs based on accreditation track record and result consistency.

June 2025

Jun

MedMen Enters Bankruptcy, Marking End of Once-Prominent Brand

MedMen Enterprises formally entered bankruptcy, with creditors reporting over $410 million in outstanding claims, ending the dramatic decline of what had once been called 'the Apple Store of weed' during its 2018-2019 peak. The company's liquidation was the largest and highest-profile cannabis bankruptcy in US history. At its peak, MedMen operated luxury dispensaries in prime retail locations across California, New York, and Nevada with celebrity branding. The collapse exemplified the industry's pattern of overspending, poor unit economics, and inability to absorb Section 280E tax pressure. For cannabis operators, the MedMen bankruptcy served as a case study in operational discipline failures and the risks of premium positioning without profitability.

Jun

Curaleaf Announces Major MSO Restructuring Amid Industry Consolidation

Curaleaf, one of the largest US multi-state cannabis operators, announced a major restructuring including layoffs and asset divestitures as the industry continued consolidating around a smaller number of profitable operators. The restructuring reflected continued pressure from 280E, capital scarcity, and price compression in mature markets.

May 2025

May

Oklahoma Extends Cannabis License Moratorium Through 2026

Oklahoma Governor Kevin Stitt extended the state's existing moratorium on new cannabis business licenses through August 2026. State regulatory data showed that regulated medical cannabis supply outpaced demand by at least 32 times, reflecting years of rapid license issuance that had created massive oversupply. Oklahoma's medical cannabis program, launched in 2018, grew to over 7,000 licensed businesses before pricing collapsed and operators began surrendering licenses. The moratorium extension effectively froze new market entry while existing operators worked through excess inventory. For cannabis investors and ancillary service providers, Oklahoma remained a contracting market with limited new business opportunities until at least late 2026.

April 2025

Apr

PharmaCann Exits Colorado, Closes Cultivation Sites Amid Layoffs

Cannabis multistate operator PharmaCann laid off 132 workers and shut down one of Colorado's largest indoor cultivation operations as the company retreated from the state's oversupplied market. The company also closed an Illinois cultivation center and began divesting non-core assets as part of a broader restructuring. Colorado wholesale cannabis prices had collapsed to below $700 per pound by early 2025, forcing multi-state operators to rationalize cultivation footprints. The PharmaCann pullback reflected a broader trend of MSOs consolidating operations in higher-margin markets. For smaller Colorado cannabis operators, the departure of a major cultivator created modest wholesale pricing relief but also signaled continuing market contraction.

March 2025

Mar

Multiple States Move to Decouple State Tax Codes from IRC Section 280E

Cannabis operators in California, Colorado, Oregon, and several other states benefited from formal state tax code decoupling from Section 280E, allowing operating expense deductions on state returns even though federal 280E remained in effect. The decoupling movement provided meaningful tax relief while operators awaited federal rescheduling.

February 2025

Feb

New York Uncovers 'Rent-a-License' Scheme at Cannabis Processor

The New York Office of Cannabis Management uncovered a scheme in which a licensed cannabis processor was charging rent to unlicensed operators, allowing them to manufacture cannabis products under the licensed facility's cover. The investigation revealed what regulators called a 'rent-a-license' arrangement that bypassed New York's track-and-trace system and state testing requirements. Regulators suspended the licensed processor and launched a broader audit of facility access controls across the state. The case highlighted critical weaknesses in New York's METRC integration and prompted calls for real-time facility monitoring. For cannabis operators, the enforcement signal was clear: facility access control and employee verification are now priority compliance areas.

DEA Administrative Law Judge John Mulrooney granted an interlocutory appeal filed by cannabis rescheduling opponents, cancelling the public hearing that had been scheduled to debate moving cannabis from Schedule I to Schedule III. The cancellation effectively paused the entire rescheduling process, which had been working its way through the DEA since HHS recommended the move in August 2023. The hearing was expected to be the most significant public debate on federal cannabis policy in 50 years. For cannabis operators, the procedural delay extended Section 280E tax exposure and pushed any meaningful federal tax relief further into the future, reinforcing that rescheduling would not be a quick fix.

The first DEA administrative hearing on marijuana rescheduling convened in Arlington, Virginia on December 2, 2024, as a largely procedural session focused on establishing the hearing record and admitting evidence. Substantive testimony from pro- and anti-rescheduling witnesses was scheduled to begin January 21, 2025, though that schedule was later disrupted when the presiding administrative law judge retired. The hearing was the most significant federal cannabis policy proceeding in 50 years. For cannabis operators watching federal timelines, the procedural opening reinforced that even with strong executive branch support for rescheduling, the administrative process would extend well into 2025 and create ongoing uncertainty about Section 280E timing.

Florida's Amendment 3 to legalize recreational cannabis received 56% support, falling short of the 60% threshold required for constitutional amendments. The defeat stalled what would have been the third-largest US recreational market and underscored the difficulty of legalization in supermajority-required states.

September 2024

Sep

Farm Bill Gets One-Year Extension, Leaving Hemp THC Loophole Intact

The US Congress extended the 2018 Farm Bill for an additional year rather than passing full reauthorization, leaving the hemp-derived THC loophole unchanged and legal. Despite multiple proposals to ban intoxicating hemp products like delta-8 THC, delta-10, and HHC during Farm Bill negotiations, no changes were made as congressional leaders prioritized avoiding controversial amendments. The extension kept the roughly $28 billion hemp THC market operating without federal restriction, frustrating state-legal cannabis operators who argued unregulated hemp competition undermined tested, taxed cannabis markets. For cannabis businesses, the extension effectively preserved the hemp THC market for another year until the 2025 federal ban finally took effect.

Sep

DEA Schedules Administrative Hearing, Delays Final Rule Past Election

The DEA announced a formal administrative hearing on cannabis rescheduling, adding an extra procedural step that pushed any final rule past the November 2024 presidential election. The decision significantly disappointed cannabis industry advocates who had hoped for a final rule before the election. The hearing would allow opponents including state attorneys general and drug policy groups to present testimony opposing rescheduling. Critics argued the hearing was an unnecessary delay tactic given the extensive public comment period already completed. For cannabis operators, the hearing schedule meant Section 280E exposure would continue throughout 2025 and potentially beyond, complicating tax planning and business forecasting.

August 2024

Aug

Colorado Cracks Down on Cannabis Testing Fraud

Colorado cannabis regulators uncovered two dozen cases of companies violating testing rules, including instances of producers submitting different samples for testing than what was actually sold at retail. The investigation revealed systematic fraud where some producers bypassed lab testing entirely by substituting clean samples. Regulators began weighing significant changes to sampling procedures, including mandatory state-collected samples and chain-of-custody verification. Colorado's crackdown was part of a broader national pattern of cannabis testing integrity enforcement during 2024. For Colorado cannabis operators, the enforcement sent a clear signal that sampling integrity and chain-of-custody documentation would face increased scrutiny.

Aug

Ohio Launches Adult-Use Cannabis Sales With 98 Dispensaries

Ohio officially launched adult-use cannabis sales, becoming the 24th US state to open a recreational market, with 98 licensed dispensaries approved to serve customers 21 and older on day one. The launch came ahead of the original September 7 regulatory deadline, following voter approval of Issue 2 in November 2023. Existing medical cannabis operators were allowed to immediately convert to dual-use, which enabled the rapid launch without new facility build-outs. First-week sales exceeded industry projections and established Ohio as one of the fastest-scaling new cannabis markets in US history. For cannabis multistate operators with Ohio footprint, the launch immediately unlocked significant adult-use revenue streams.

July 2024

Jul

DEA Cannabis Rescheduling Public Comment Period Closes With Record Submissions

The public comment period on the DEA's proposed cannabis rescheduling rule closed with over 43,000 comments submitted, the vast majority supporting the move to Schedule III. The comment volume exceeded almost any prior DEA rulemaking and signaled broad public engagement with the issue.

Jul

IRS Warns Cannabis Companies That 280E Tax Still Applies

Five major cannabis multistate operators collectively accumulated approximately $1.6 billion in potential Section 280E tax exposure through amended return claims challenging the statute's application. The strategy was based on legal theories that 280E should not apply following rescheduling discussions or does not apply to certain operational structures. The IRS began aggressively pushing back, with the agency's tax attorneys warning publicly that past taxes paid under 280E are unlikely to be refunded and that the refund claims face significant legal obstacles. For cannabis CPAs and operators, the $1.6 billion figure illustrated both the enormous tax burden 280E had imposed and the uncertain outlook for recovering any of it through litigation.

March 2024

Mar

California Revokes Cannabis Testing Lab License for Faking Results

California regulators canceled a cannabis testing laboratory license after finding the lab had allegedly faked results and tampered with analytical equipment. Independent state testing of samples the lab had approved found nearly 600 times the allowed amount of chlorfenapyr, a banned pesticide, meaning consumers had been exposed to unsafe product. The lab was the second California testing facility to lose its license in 2024 for integrity failures. The enforcement action was part of an aggressive crackdown by the California Department of Cannabis Control on lab shopping and falsified safety testing. For cannabis operators, the case underscored the reputational and legal risk of relying on labs with suspiciously favorable failure rates.

Mar

Trulieve Surpasses $1 Billion Annual Revenue

Trulieve became one of the first US multi-state operators to surpass $1 billion in annual cannabis revenue, driven primarily by its dominant position in Florida's medical market. The milestone underscored the consolidation of US cannabis into a smaller number of large vertically integrated operators.

February 2024

Feb

Trulieve Reports Receiving $113 Million in 280E Tax Refunds

Trulieve disclosed in a regulatory filing that it had received $113 million in federal tax refunds from amended returns challenging Section 280E. The company filed a total of $143 million in claims based on the legal theory that 280E does not apply to certain corporate structures or activities. The partial refunds marked the first significant IRS concession on any cannabis 280E position and set up a confrontation with the IRS that other major multistate operators were also pursuing through similar amended returns. For cannabis CPAs and operators, the Trulieve refunds represented a potential blueprint for recovering some prior-year 280E tax exposure, though the IRS later indicated it would fight future refund claims more aggressively.

January 2024

Jan

Nevada Cannabis Compliance Board Imposes Major Lab Sanctions

The Nevada Cannabis Compliance Board imposed substantial penalties on multiple cannabis testing laboratories for inaccurate potency reporting and violations of standard operating procedures. The enforcement action was part of a broader nationwide crackdown on lab shopping and result inflation.

December 2023

Dec

U.S. Cannabis Sales Projected to Reach $33.6 Billion in 2023

Combined US medical and recreational cannabis sales were projected to reach $33.6 billion for calendar year 2023, growing from approximately $30 billion in 2022. Growth was driven primarily by new adult-use market launches in Missouri, Maryland, and Connecticut, while mature markets in Colorado, Washington, and Oregon saw flat or declining revenues due to persistent price compression and oversupply. The overall growth masked significant regional divergence: newer markets were expanding rapidly while older markets were contracting. The total cannabis industry employment in the US was estimated at over 440,000 workers. For cannabis operators, the 2023 numbers illustrated the importance of market selection and timing in an industry where aggregate growth masked individual operator pain.

Dec

Cannabis Industry M&A Volume Hits $1.75 Billion With Smaller Deals

Cannabis industry mergers and acquisitions totaled approximately $1.75 billion in 2023, with combined equity and debt capital flows into the sector increasing 50 percent year-over-year despite depressed public company valuations. The average cannabis deal size dropped to $20.4 million, reflecting a pivot away from large transformational mergers toward smaller, strategic bolt-on transactions. The trend reflected both the collapse of mega-deal valuations and the availability of distressed assets as smaller operators exited the industry. Canadian and US multistate operators were the most active acquirers. For cannabis investors and operators, the 2023 M&A pattern confirmed that industry consolidation would continue but at lower prices and through strategic rather than transformational deals.

November 2023

Nov

Ohio Voters Approve Recreational Cannabis Legalization

Ohio voters approved Issue 2 on November 7, 2023, making Ohio the 24th US state to legalize adult-use cannabis and the second state where Republicans controlled state government to do so via ballot initiative. The measure allowed residents 21 and older to possess up to 2.5 ounces of flower or 15 grams of cannabis extracts and grow up to six plants at home for personal use. Commercial retail sales were authorized to begin within approximately nine months of passage. Despite passage, Ohio's Republican legislature immediately began debating potential amendments to modify the ballot measure's terms. For cannabis operators, Ohio opened a major new Midwest market that launched retail sales in August 2024.

Nov

Ohio Voters Approve Issue 2 Legalizing Recreational Cannabis

Ohio voters approved Issue 2 with 57% support, making Ohio the 24th US state to legalize adult-use cannabis and the second state where Republicans control state government to do so via ballot initiative. Adult-use sales launched in August 2024.

September 2023

Sep

SAFER Banking Act Advances Through Senate Committee

The US Senate Banking Committee approved the SAFER Banking Act by a bipartisan 14-9 vote, marking the first time the upper chamber of Congress had advanced cannabis banking legislation out of committee. The bill would prohibit federal regulators from penalizing financial institutions that serve state-legal cannabis businesses, addressing the primary barrier to cannabis companies accessing mainstream banking services. The committee vote was a significant political milestone, though the bill ultimately did not reach the Senate floor during the 118th Congress. The SAFER Banking Act had been introduced in multiple forms over nearly a decade with consistent House passage but no Senate action. For cannabis operators, the committee vote offered hope even though the bill stalled.

Sep

California Department of Cannabis Control Levies Record Lab Shopping Penalties

California regulators issued multimillion-dollar penalties against several cultivators and laboratories for lab shopping practices that artificially inflated reported THC potency. The enforcement action came amid mounting evidence that lab shopping was distorting product labels across the largest US cannabis market.

Law enforcement investigations revealed that Oklahoma's cheap land and low medical cannabis license fees had attracted organized criminal organizations using legal-looking grow operations as cover for illegal interstate cannabis distribution. The investigations uncovered dozens of facilities that had obtained state licenses but were actually producing cannabis destined for black markets in other states, particularly in the Northeast. Oklahoma state authorities dramatically ramped up enforcement, raiding hundreds of suspicious operations and revoking licenses. The scandal accelerated calls for the license moratorium and stricter ownership verification. For cannabis operators, the Oklahoma situation illustrated how lax licensing can actively harm legitimate industry interests by enabling criminal exploitation.

Maryland's adult-use cannabis market launched on July 1, 2023, allowing existing medical dispensaries to immediately serve recreational customers. First-day sales exceeded $10 million as operators benefited from a phased licensing approach that minimized supply disruptions.

April 2021

Apr

Virginia Becomes First Southern State to Legalize Recreational Cannabis

Virginia became the first Southern state to legalize adult-use cannabis when Governor Ralph Northam signed legislation moving up the legalization date for personal possession to July 1, 2021. The retail commercial market was repeatedly delayed by subsequent administrations.

Apr

SAFE Banking Act Passes US House Multiple Times Without Senate Action

The Secure and Fair Enforcement (SAFE) Banking Act passed the US House of Representatives for the fifth time in early 2021, having been approved repeatedly without ever receiving a Senate vote. The recurring House passage reflected bipartisan support that consistently failed to overcome Senate procedural obstacles.

March 2021

Mar

New York Legalizes Recreational Cannabis

Governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act, legalizing recreational cannabis in New York and creating the Office of Cannabis Management to oversee licensing. The law established a Conditional Adult-Use Retail Dispensary (CAURD) program prioritizing applicants with prior cannabis convictions.

January 2021

Jan

USDA Releases Final Hemp Production Rules Under 2018 Farm Bill

The US Department of Agriculture published final rules implementing the hemp production program authorized by the 2018 Farm Bill, setting THC testing requirements, sampling protocols, and disposal procedures for non-compliant crops. The rules established the regulatory framework for the federally legal hemp industry.

December 2020

Dec

MORE Act Passes US House

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act passed the US House 228-164, marking the first time a chamber of Congress had voted to remove cannabis entirely from the Controlled Substances Act. The bill did not advance in the Senate.

November 2020

Nov

Arizona, Montana, New Jersey, and South Dakota Approve Recreational Cannabis

Voters in four states approved recreational cannabis legalization on Election Day 2020, with Mississippi simultaneously approving medical cannabis. South Dakota's recreational measure was later struck down by the state Supreme Court in 2021 as violating single-subject rules.

Nov

Mississippi Voters Approve Medical Cannabis Initiative 65

Mississippi voters approved Initiative 65 establishing a comprehensive medical cannabis program with 73% support, only to have the state Supreme Court invalidate the result in 2021 on procedural grounds. The legislature later passed a separate medical cannabis program in 2022.

March 2020

Mar

Cannabis Declared Essential Business During COVID-19 Lockdowns

Most US states with legal cannabis programs designated dispensaries as essential businesses during COVID-19 lockdowns, allowing them to remain open while non-essential retail shut down. The classification provided unprecedented legitimacy and triggered record sales months across multiple state markets.

September 2019

Sep

SAFE Banking Act Passes US House for First Time

California officially launched its recreational cannabis market on New Year's Day, becoming the world's largest legal cannabis economy with over 8,000 licensed businesses initially expected. Early sales were hampered by local opt-outs, with hundreds of cities banning commercial cannabis operations entirely.

July 2017

Jul

Nevada Launches Recreational Cannabis Sales

Nevada became the fifth state to launch legal recreational cannabis sales, generating over $27 million in revenue during the first month and quickly establishing Las Vegas as a major cannabis tourism destination. The state imposed a 10% excise tax and a 15% wholesale tax on cultivators.

February 2017

Feb

Trump Administration Signals Mixed Messages on Cannabis Enforcement

Press Secretary Sean Spicer suggested federal cannabis enforcement could increase under the Trump administration, sending cannabis stocks tumbling and creating regulatory uncertainty for state-legal operators. Industry attention turned to whether AG Jeff Sessions would rescind the Obama-era Cole Memorandum.

Florida voters approved Amendment 2 with 71% support, expanding medical cannabis access for patients with debilitating conditions and authorizing the state Department of Health to license Medical Marijuana Treatment Centers. The vertically integrated MMTC structure became one of the most restrictive medical programs in the US.

August 2016

Aug

DEA Denies Petition to Reschedule Cannabis from Schedule I

The DEA formally denied two petitions to reschedule cannabis out of Schedule I, concluding that cannabis has no currently accepted medical use and high abuse potential. The decision was widely criticized by reformers but kept Section 280E firmly in place for state-legal operators.

February 2014

Feb