Happy Tuesday, Cannabin-vestors! In an HBO interview with Bill Maher, newly-minted three-time Grammy winner Killer Mike suggested Black people be given control over the U.S. cannabis industry as a way to redress racial harm. In their discussion about reparations, Maher said, “With Native Americans, we gave them the casino industry.”

“Could Black people have the marijuana industry?” replied Killer Mike. “Give us marijuana. Multibillion-dollar industry. It’s still fresh, it’s still growing.” I can see why he won his awards. The man has a way with words.

Plus, Virginia is advancing toward legalizing marijuana sales for adults over 21. Here’s the next step.

And, check out the newest episode of Cannabis Insider, also available on Apple and Spotify.*

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TOP STORY

Insights Into California's Cannabis Market

Briefly: Six years after legalization, California's vast cannabis market faces mixed results.

So Basically: Despite generating over $5.7 billion in taxes, the Cali cannabis industry falls short of financial expectations due to oversupply, illicit trade and local bans.

So Then: The competitive landscape of California's cannabis sector reveals significant price pressures and a trend toward industry consolidation.

That Said: Among the top brands, West Coast Cure, Gelato, and STIIIZY have grown, with Gelato experiencing a notable 192% increase.

However: The market remains highly fragmented, with only four brands holding over a 3% share.

So What? The dominance of Multi-State Operators in California is evident, with 14 generating over $150 million annually.

What Next: Read the detailed analysis of California's cannabis sector by Zuanic & Associates here.

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Discover the Gateway for Cannabis Edible Businesses into the Vape Market!

Vape will be the optimal option to expand markets for cannabis edible brands. This revelation, supported not by a specific industry expert but by comprehensive data and information, unfolds the compelling reasons behind this opportune moment for diversification. Learn more information and insights on the vape market, exploring strategic insights, successful practices from renowned brands like Kushy Punch and Flav, and the product values of ArtrixDemo - the world's smallest cannabis vape - bringing popular edible flavors into every aromatic puff.

FIVE ZINGERS

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What cannabis operators are looking for in an acquisition in 2024

Innovative growing method sidesteps weed's vegetative stage, slashing costs while preserving quality

Hawaii's bill to legalize marijuana hot topic at Cannabis Expo, 'It's inevitable' says Senator

ONE FOR THE ROAD

What A Waste

Briefly: New York’s once hopeful and now beleaguered foray into legal cannabis has hit another snag.

What Happened: New York farmers cultivated enough cannabis last summer and fall to supply 1,500 stores, yet barely 50 legal dispensaries have opened. A massive oversupply of marijuana has precious few retail outlets to sell it.

Why It’s Happening: The main culprit is the slow licensing process, with only 460 retail licenses issued so far, primarily to nonprofits and those affected by the war on drugs. Finding real estate to set up shop is also challenging due to zoning restrictions and hesitant landlords.

Why It Matters: As much as 125 tons of waste could soon be headed for the dump due to this retail shortage. They’ll also be throwing out potential profits.

What Next: Industry players are urging the state to issue more licenses, particularly to those who have secured locations. They argue the current plan to award just 250 additional licenses is insufficient. Read more here.

KEEP READING

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