Indy 500 Allows CBD Sponsor, Delaware Revise Recreational Cannabis and Jersey Expands MMJ Program

In Oregon, a landmark bill passes the state senate, which would allow imports and exports of marijuana across state lines. The legislation could alleviate Oregon’s current cannabis oversupply issues, but would only go into effect if federal law changes to allow such activity.

In New Jersey, after Governor Murphy announced the expansion of the state’s medical marijuana program, legislators ditched the adult use cannabis bill they were working on. Instead, they plan to put the issue to the people as a measure on the 2020 ballot.

Meanwhile, another East Coast state has a go at legalizing recreational cannabis. Delaware lawmakers introduce a revised proposal after a similar adult use bill failed to pass last year. Proponents want to eliminate the illicit market through legalization, but with opposition from law enforcement, business communities, and the governor, its chances of passing are unclear.

CBD enters the sports world: New-Mexico based brand Craft 1861 becomes the first CBD industry sponsor in major professional sports, of Carlin Indycar race team at the Indy 500. With the health benefits of hemp products especially attractive to athletes, the sponsorship is expected to be the first of many.

In the finance sector, Ohio-based cannabis company Green Growth brands raised 45.5 million dollars through a private placement of convertible debt, which they plan to use to further drive their rapid expansion.

In Canada, micro-licenses for small businesses, which were introduced by the federal government last year, are gaining ground, with more than 150 applications received so far. Ontario is slightly ahead in applicant numbers, but British Columbia, with a larger craft cannabis industry, is predicted to catch up before too long.

Overseas: a growing MMJ industry in Denmark. With over two thousand patients, a federal reimbursement program, free market pricing, and cultivators on the brink of international exportation, some believe the country’s market is becoming a model for medical cannabis programs throughout Europe, however will the unregulated pricing become an issue? Let us know what you think online Cannabis Broadcast Station.

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Directed by: Micah Tatum @arbitrageent
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William Bradley

William Bradley

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