MMJ Business Daily

Week in Review: 5 business takeaways from the landmark national election

By Omar Sacirbey and Bart Schaneman

Now that voters in seven states have legalized recreational or medical marijuana, business leaders and political observers are bullish about the potential for industry growth.

They point to greater opportunities through interstate expansion, increased investor interest in the cannabis space and greater innovation in technology and business strategies.

“People should feel good about these victories and the opportunities that legalization brings,” said Kris Krane, managing partner of 4Front Advisors, a cannabis consulting firm in Boston.

But industry officials also warn that perks – including expansion opportunities – do not come without risk.

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Week in Review: 5 business takeaways from the landmark national election is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Denver’s public-use MJ initiative poised to pass by narrow margin

Denver’s vote to allow cannabis consumption in public businesses, including bars and restaurants, appears poised for passage, overcoming initial predictions that the initiative faced an uphill battle.

As of 4 p.m. Eastern Time Thursday, Initiative 300 had received 51% of the approximately 223,000 votes that had been counted. A representative of the Denver County Clerk’s office said the the vote tally was still being finalized, and the election results won’t be certified until later this month, on Nov. 22.

The yes vote would make the Mile High City the first of its kind to approve public-use permits, which would require participating

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Denver’s public-use MJ initiative poised to pass by narrow margin is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado county’s vote to maintain recreational marijuana industry stalls anti-MJ efforts

By Bart Schaneman

This week’s defeat by voters of a proposed ban on recreational marijuana businesses in Pueblo County, Colorado, forestalled a possible domino effect that could have unleashed major fallout for the state’s cannabis industry.

The lopsided vote also represents a strong show of support for recreational cannabis businesses four years after Colorado legalized adult-use marijauna, indicating that many residents feel the benefits of the industry outweigh any negatives.

Pueblo’s cannabis industry, located in southern Colorado, has created more than 1,300 jobs and is an important generator of millions of tax dollars for the local

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Colorado county’s vote to maintain recreational marijuana industry stalls anti-MJ efforts is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MA treasurer seeks delay in rec cannabis stores opening, tax hike

While Gov. Governor Charlie Baker has promised to implement Massachusetts’ recreational marijuana law “briskly,” State Treasurer Deborah Goldberg said she wants to delay the January 2018 target date for adult-use shops to open and would like to increase the 3.75% marijuana sales tax.

Goldberg’s view is important because – under the recreational marijuana initiative that Massachusetts voters approved 54%-46% – the treasurer is responsible for managing the state’s marijuana industry, including appointing the three members of a Cannabis Control Commission, The Boston Globe reported.

Goldberg suggested that the January 2018 target for sales to begin would be difficult

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MA treasurer seeks delay in rec cannabis stores opening, tax hike is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Arkansas health department to oversee new MMJ industry

The day after Arkansas voters approved legalized medical marijuana, the state’s Department of Health unveiled plans for how it will set up the necessary infrastructure to launch the new MMJ industry and regulate it once businesses are up and running.

The Department of Health said it will take several months to establish a regulatory system that ultimately will oversee labeling and testing, develop a conditions list, and monitor a library for dispensaries to verify how much cannabis is doled out to cardholders, television station KFSM reported.

The agency’s duties under the Medical Marijuana Act also will extend to rule-making,

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Arkansas health department to oversee new MMJ industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

15 Oregon towns vote to reverse rec cannabis bans; new taxes set

Fifteen Oregon localities have voted to opt back in to allowing recreational marijuana, overturning bans on cannabis sales or MJ businesses, election results show.

According to the Oregonian, voters in 60 communities considered ballot initiatives that basically asked residents to determine whether recreational or medical cannabis should be permitted.

The newspaper said most cities and counties approved bans although some rejected them. In 2014, when Oregon voters legalized recreational cannabis, about 100 towns and counties declined to follow the rest of the state.

The Oregonian also reported that more than 100 communities were moving toward slapping additional local

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15 Oregon towns vote to reverse rec cannabis bans; new taxes set is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

President Trump: Election surprise creates huge uncertainties for cannabis industry

By Marijuana Business Daily staff

Donald Trump’s upset election victory is causing consternation in the marijuana industry even though seven states legalized medical or recreational cannabis and another paved the way for MMJ businesses.

Executives are uncertain of what a Trump presidency means in terms of federal regulations and enforcement, with some fearing an eventual crackdown.

Still, other industry officials and experts suggested the state-level victories could ultimately lead to some positive marijuana-related steps at the federal level, including reform of banking laws and Section 280E of the federal tax code.

They also suggested a Trump administration would generally lay off

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President Trump: Election surprise creates huge uncertainties for cannabis industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

President Trump: Election surprise creates huge uncertainties for cannabis industry

By Marijuana Business Daily staff

Donald Trump’s upset election victory is causing consternation in the marijuana industry even though seven states legalized medical or recreational cannabis and another paved the way for MMJ businesses.

Executives are uncertain of what a Trump presidency means in terms of federal regulations and enforcement, with some fearing an eventual crackdown.

Still, other industry officials and experts suggested the state-level victories could ultimately lead to some positive marijuana-related steps at the federal level, including reform of banking laws and Section 280E of the federal tax code.

They also suggested a Trump administration would generally lay off

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President Trump: Election surprise creates huge uncertainties for cannabis industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado’s Pueblo County rejects measure to ban rec marijuana

Pueblo County, Colorado, voters rejected a ballot initiative that would have shut and banned all recreational marijuana operations in the county, a decision that allows the MJ industry to dodge a development that could have had statewide ramifications.

If Ballot Question 200 had passed, a major marijuana supply source would have dried up, dozens of businesses would have had to close and scores of workers would have lost their jobs.

Instead, the initiative was voted down by 56% of voters, according to results from the county.

Voters in the city of Pueblo also rejected a second,

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Colorado’s Pueblo County rejects measure to ban rec marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis REIT gets initial ‘yes’ for New York Stock Exchange listing

Innovative Industrial Properties, a cannabis-focused real estate investment trust, said it won preliminary approval to list its shares on the New York Stock Exchange, which would make it the first marijuana-related company to secure a Big Board listing.

The company, headquartered in San Diego but incorporated in Maryland, had filed with the NYSE last month to seek a public listing.

Innovative Industrial Properties, which buys medical marijuana-related facilities and leases them, signaled this week in a Securities and Exchange Commission filing it expects to win final approval from the Big Board.

“We have been approved to list

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Cannabis REIT gets initial ‘yes’ for New York Stock Exchange listing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs