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Plus, the next time you take go for a hike in a national park beware of illegal weed cultivation?

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TOP STORY

Over $20 Billion In Green: Cannabis Is A Lucrative Harvest For Legal Weed States

Briefly: Since Colorado and Washington became the first states to legalize adult-use cannabis sales in 2014, a green wave has swept over the U.S.

So Basically: A new report reveals that legal cannabis sales have generated a staggering $20 billion in tax revenue combined.

So Then: This windfall is allowing states to invest in crucial areas like education, public health and social justice initiatives.

So What: States have adopted various tax structures on cannabis sales, creating a spectrum of revenue generation. Washington leads the pack with one of the highest retail tax rates at 37%, translating to significant tax revenue.

What’s More: California reigns supreme in total revenue collected, pulling in a mighty $1.1 billion in 2023 alone. This demonstrates that tax rates, like California's 15% excise tax, can be highly lucrative when applied to a robust and well-regulated market.

Click here to read more.

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ZINGERS

Acreage Announces $10M Private Placement Of Units Ahead Of Acquisition By Canopy

Police Chief In This Low-Crime City Blames Illicit Cannabis For Its Woes, Prompting State Senator's Push For Legal Sales

Aurora Cannabis Launches 1.2g Resin Cartridges In Australia, Now Available For Doctors To Prescribe

EXCLUSIVE: Colorado Cannabis Gets A Boost As 3 Operators Land $550K In Credit Lines

House Approves GOP Spending Package To Include Medical Marijuana Access For Veterans

ONE MORE FOR THE ROAD

Cannabis Chart Of The Week: Are U.S. Cultivation And Retail Capital Raises About To Swing Upward?

Briefly: Our chart of the week shows U.S. cultivation and retail sector capital raises, which are up 48% from 2023. The increase contrasts with a 22.0% decline for all cannabis-related sectors worldwide and a 32.5% decline of all U.S. cannabis raises.

So Basically: Are capital raises about to accelerate based on rescheduling and other potential regulatory, legislative, or judicial events?

So Then: The share of capital raised by public companies has declined from 85% in 2021 to approximately 45% in 2024, as the large multi-state operators have been largely absent from the market.

So What: Equity issuance is frozen pending greater certainty on the timing of 280e relief but is likely to spike upward with any significant equity price recovery.

What Else: Significant debt maturities will need to be refinanced in late 2024 and through mid 2025.

Click here to read more.

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