Illinois Becomes 11th U.S. State to Legalize Recreational Cannabis

The state of Illinois today finalized a bill to legalize cannabis. Bill HB 1438, which allows adults 21 and older to consume and posses cannabis, was approved in a bipartisan 66 to 47 vote. The only hurdle remaining is a signature from Governer JB Protzker. Gov. Pritzker has announced he intends to sign the bill. “The state of Illinois just made history, legalizing adult-use cannabis with the most equity-centric approach in the nation. This will have a transformational impact on our state, creating opportunity in the communities that need it most and giving so many a second chance.” Pritzker said.…

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FDA Hearing Exploring Fate of CBD Regulation

Today the FDA is holding a hearing to determine how the regulatory body will manage the rules and restrictions surrounding CBD. Attending the hearing will be a number of cannabis advocates, including manufacturers, consumer, health care providers and other analytics to provide a sweeping overview of the impacts that CBD and the many products derived from it, can play in the open marketplace. Recently estimates on Wall Street state that the current $1 billion CBD industry could grow to $16 billion by 2025, depending in the level of regulation. Last year the FDA and the DEA both approved for the…

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Merger Mania Making Waves in Cannabis Sector

The cannabis market is rife with activity - big activity. Since the New Year, a number of massive mergers & acquisitions have taken place, stretching from East to West and North to South. These consolidations have drawn the eye of Wall Street as economies of scale and vertical integration tempt further capital flow into the sector. Of course such deals create winners and losers, often at the expense of the little guy. Yet it also represents a maturation taking place in an industry that has long lingered in the shadows of adolescent economic potential. As consolidation, normalization and scale continue…

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Makers of Oreo Cookies Considering CBD-Infused Products

The makers of Oreo cookies are considering integrating CBD into their products. If that’s not a recipe for letting out the kid inside, then what is? Oreos are produced by Mondelez, based in Europe, that also makes famed snack brands Chips Ahoy!, Wheat Thins, Ritz Crackers and many others. "We’ve been looking at it," CEO Dirk Van de Put told CNBC in an interview Wednesday. "We’re getting ready but obviously we want to stay within what is legal and play it the right way.” Don’t get too excited, however, as it seems this CBD infusion will not impact its current…

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MA-Based Curaleaf Holdings Acquires OR-Based Cura Cannabis for $1.1 Billion

Portland, Oregon-based Cura Cannabis, one of the nation’s largest producers and distributors of cannabis products, was acquired by Curaleaf Holdings today for a record all-stock valuation of $1.1 Billion. This is the largest acquisition deal in the history of the U.S. legal cannabis industry…thus far. Curaleaf Holdings, based in Massachusetts, reported $87.8 million in revenue in 2018 compared to $117 million in revenue from Cura. The combined company market value is over $6.5 Billion as of May 1, 2019. “The transformational acquisition of Cura and the Select brand is another step in our journey to create the most accessible cannabis…

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