JK Logix’s Post

“It’s like the wind in our cannabis sails in Colorado has just been sucked all the way out,” said Wanda James, founder of Denver dispensary Simply Pure, one of the first recreational dispensaries in the state. A messy assortment of factors has led to the pioneering industry’s struggles. A supply glut caused weed prices to plummet in the wake of the pandemic. The spread of cheap, largely unregulated intoxicating hemp-derived products further heightened competitive pressures. And marijuana remains federally illegal, subjecting operators to sky-high taxes and costly regulations. But more than any other factor, Colorado’s market has been sapped by the rapid spread of legalization across the country. Neighbors New Mexico and Arizona are among the 24 states with their own adult-use legal marijuana markets, wreaking havoc on the business plans of dispensaries on Colorado’s southern border. Tourists who once flooded the state for the opportunity to legally experience Rocky Mountain highs have largely disappeared as the novelty has worn off. Even Texans aren’t driving north to buy weed anymore, satisfied with the proliferation of intoxicating hemp products in their own state. #coloradocannabis #cannabisindustry #simplypure #wandajames #cannabismarket #coloradocannabismarket https://lnkd.in/g7j95-dY

Ohio coming in HOT against home grow: "Ohioans who grow marijuana at home would be required to submit an affidavit to the Division of Cannabis Control pledging not to sell their crop to the public. Under the law approved by voters, home growers can transfer up to six plants to another adult as long as there's no payment or advertising. The illegal cultivation of marijuana at home would be a misdemeanor for the first offense and could escalate to a felony charge." Aka: 1. Legal document whose violation is punishable by law. 2. Can gift clones/plants, but cannot advertise their availability nor sell clones. 3. Growing without #1 is a crime (misdemeanor, then felony) Now, it's only a proposal, and will hopefully die before it ever sees the light of day, but this is EXACTLY why we need growers to advocate for other growers. If you live in Ohio and grow your, contact your representative(s). Let them know how you feel about these changes. Home grow is not a given in most states. Far from it. https://lnkd.in/gyurETRm

For the first time since the 2018 Farm Bill became law, the U.S. Supreme Court will decide a case about hemp. The case—Medical Marijuana, Inc., et al. v. Douglas J. Horn—involves the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and asks whether product manufacturers can be held responsible for a person’s lost earnings and other job benefits under that powerful statute. Earlier this week, the Roundtable filed a “friend of the court” brief supporting the defendants’ position that Congress did not intend RICO to apply to personal injury losses. As the brief argues, expanding RICO has major implications for the hemp products industry. Increased costs will be passed on to consumers, potentially making products unavailable to people who need them. And worse, more liability may cause manufacturers, distributors, or retailers to exit the industry entirely, which will reduce economic opportunities for hemp farmers and businesses. Find our full response, and a link to our amicus brief, in the comments below!

“It’s like the wind in our cannabis sails in Colorado has just been sucked all the way out,” said Wanda James, founder of Denver dispensary Simply Pure, one of the first recreational dispensaries in the state. A messy assortment of factors has led to the pioneering industry’s struggles. A supply glut caused weed prices to plummet in the wake of the pandemic. The spread of cheap, largely unregulated intoxicating hemp-derived products further heightened competitive pressures. And marijuana remains federally illegal, subjecting operators to sky-high taxes and costly regulations. But more than any other factor, Colorado’s market has been sapped by the rapid spread of legalization across the country. Neighbors New Mexico and Arizona are among the 24 states with their own adult-use legal marijuana markets, wreaking havoc on the business plans of dispensaries on Colorado’s southern border. Tourists who once flooded the state for the opportunity to legally experience Rocky Mountain highs have largely disappeared as the novelty has worn off. Even Texans aren’t driving north to buy weed anymore, satisfied with the proliferation of intoxicating hemp products in their own state. #coloradocannabis #cannabisindustry #simplypure #wandajames #cannabismarket #coloradocannabismarket https://lnkd.in/gpGxG8mA

Minnesota Senate greenlights fast-track for weed businesses – igniting a new era of opportunity. 🌿 The Minnesota Senate's recent approval of a bill to expedite the licensing process for recreational marijuana cultivators marks a significant step forward in the state's cannabis industry. Passed narrowly with a vote of 34-32, the legislation aims to accelerate the launch of regulated weed cultivation by the end of the year, following the state's legalization of recreational marijuana in 2023. Despite opposition from some Republican lawmakers, the bill signals the potential for a thriving and tightly regulated cannabis market in Minnesota, offering economic opportunities while ensuring regulatory integrity 🌱Disclaimer: This Video/Post is for educational and informational purposes only For More Information/News Follow Us: Get Your MMJ Card Click The Link In Our Bio: . . . #wearesunjane #Minnesota #weedbusiness #newbusinessweed #lawmakers #Economy #cultivation #laws #cannabisbills #licensing #midwest

Three years ago, many thought New York would overtake California as the largest regulated cannabis market. Today, #Michigan leads in several key metrics, even outperforming #California despite having a smaller population. What’s Michigan’s secret? 💰 Higher Per Capita Spend: Michigan's marijuana buyers spend more than three times per capita compared to Californians. 🛍 More Units Sold: Michigan surpassed California in units sold, moving 25 million units in May 2023. 🛒 Larger Basket Size: Michigan consumers buy almost double the items per visit and spend nearly $10 more per basket than California consumers. 💡 Product Preferences: Michigan's market is dominated by flower (47%), while California has a more diverse product range with only 34% flower sales. As adult-use sales begin in states like New York and Ohio, the competitive landscape of U.S. marijuana markets is set to evolve even further. Are you strategizing around product selection in an upcoming adult-use state? Let's discuss how you can set your licenses up for success in the long-run. #cannabisbusiness #Dispensary #Inventory #CannabisCommunity #GrowthMarkets Great article by Andrew Long with MJBizDaily:

It’s hard being the Bank for the entire industry. 97% of survey respondents (87) are operating at a loss. Losses that are existential. Most of the issues are structural and not poor business decisions. 30% fear retaliation from OCM. 80% want OCM audited by a 3rd party.

The state of the Industry in Colorado is telling a story much like other states that have legalized cannabis use. Weathering the impact of a global epidemic was tough enough with many not making it to the other side to only have the less regulated hemp industry nipping at their heels and wallets. Working with business development and revenue teams for the past few years has been one of the hardest jobs that daily requires new outside-of-the-box ideas and fighting to justify your efforts. Karson Humiston said what most companies are thinking “Is something wrong with our sales team?” https://lnkd.in/epid4rjB #coloradocannabiscommunity #cannabiscommunity #coloradocannabis #cannabis #colorado #cannabisculture #coloradocannabisindustry #cannabisindustry #coloradodispensary #weed #cannabissociety #concentrates #cannabisgrowers