MMJ Business Daily

Former Cyclist Floyd Landis Launches Cannabis Company

Controversial former cyclist Floyd Landis is jumping into the marijuana business, launching a company that will sell vape and edible products.

Landis plans to peddle products containing marijuana oil secured from high-altitude growers using a pharmacy-grade CO2 extraction process, Cyclingnews reported.

A press release obtained by the publication states that “the uniquely formulated vape and edible products are crafted for an enhanced consumer experience and are carefully prepared by licensed pharmacists to maximize the many health benefits of recreational cannabis.”

Landis won the 2006 Tour de France but was forced to forfeit the title after testing positive for

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Former Cyclist Floyd Landis Launches Cannabis Company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Fortune 150 Company Partners With Ancillary Cannabis Firm

MyDx, a maker of handheld chemical analyzers that allow consumers to check the potency of marijuana strains, has struck a deal with Arrow Electronics, a Fortune 150 company, under which Arrow will help manufacture the analyzers and provide other services and credit for San Diego-based MyDx.

The agreement is the latest to emerge involving a marijuana-related company and a major corporation. Software giant Microsoft Corp. last week disclosed it’s teaming up with an established ancillary cannabis firm, Kind Financial, to land government technology contracts tied to the cannabis sector.

In a press release, MyDx said Colorado-based Arrow will manage

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Fortune 150 Company Partners With Ancillary Cannabis Firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Medical Cannabis Legalization Blocked in Mexico

Mexican President Enrique Peña Nieto, after saying in April he’s open to legalizing cannabis for medical uses, effectively stood by without comment while his own party forestalled a vote on a legalization bill.

The Mexican Senate postponed indefinitely any hearing on the legalization legislation.

“It looks like (Peña Nieto) never really wanted it,” drug policy expert Lisa Sanchez told Vice News.

She noted the president’s Institutional Revolutionary Party scuttled the MMJ reforms. “It’s either that, or the PRI now considers that (Peña Nieto) is a liability and his opinion is worth nothing from now until the next

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Medical Cannabis Legalization Blocked in Mexico is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Top Marijuana Exec Denied Life Insurance

A major insurance company in the United States apparently has a policy of its own: It won’t provide life insurance to people in the legal marijuana industry.

The affair raises broader issues about the ability of marijuana industry employees and executives to secure life insurance and other benefits.

The issue came to light when Derek Peterson, the CEO of Terra Tech, tried to obtain a life insurance policy from Mutual of Omaha, and was denied. In a letter to Peterson, the company stated explicitly that the reason for the denial is because Terra Tech is a cannabis company.

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Top Marijuana Exec Denied Life Insurance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Week in Review: Key Meetings in Cannada, Possible Patient Boom in Nevada & DEA Speculation

By John Schroyer and Omar Sacirbey

Canada’s legalization point man huddles with industry reps, a new Nevada patient processing office could produce a revenue jump for medical marijuana dispensaries, and speculation swirls that the DEA is poised to reschedule cannabis.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Sneaky Sneaky, Canada

The Canadian government’s point man on marijuana legalization, Bill Blair, recently berated unlicensed medical cannabis dispensary operators as “reckless” profit mongers who “don’t care” about the law or the health of kids and adults.

This week, though, he met

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Week in Review: Key Meetings in Cannada, Possible Patient Boom in Nevada & DEA Speculation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

$60M in Oregon Rec Cannabis Sales From January Thru May

Oregon rang up nearly $60 million in recreational cannabis sales between Jan. 1 and May 30, and that number will likely get even bigger later this year now that edibles and concentrates have been added to the lineup for adult-use customers.
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Connecticut’s Medical Marijuana Patient Pool Surges

The number of medical marijuana patients registered with the state of Connecticut has surged 44% since mid-December, which should mean a sizeable sales boost for the state’s MMJ dispensaries.

The number of MMJ patients registered with the Connecticut Department of Consumer Protection stood at 11,058 as of June 19, up from 7,665 as of Dec. 15, according to the Hartford Business Journal reported.

New Haven County leads the way with 2,702 patients, followed by Hartford County with 2,466 patients, Fairfield County with 2,377 patient, and New London County with 1,231 patients. Together, the four other counties have slightly

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Connecticut’s Medical Marijuana Patient Pool Surges is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Nevada Cannabis Legalization Group Records Cash Haul

The political action committee behind a ballot initiative to legalize recreational marijuana in Nevada has raised a notable amount of money this year, with a recent cash injection coming from local cannabis companies.

The Coalition to Regulate Marijuana Like Alcohol, organized by the Marijuana Policy Project, has so far taken in $285,000 in 2016, according to a June 11 filing with the secretary of state, the Las Vegas Review-Journal reported. That’s almost half of what the group raised for all of 2014, when the measure to legalize adult-use cannabis initially appeared on the Nevada ballot.

While the ballot measure

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Nevada Cannabis Legalization Group Records Cash Haul is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New York Governor Unaware of MMJ Program Problems

After a recent study sharply criticized New York State’s medical marijuana program, the state’s governor said he was unaware of concerns that both patients and caregivers were having difficulty getting access to medical cannabis.

“I haven’t heard issues that people can’t find access,” Cuomo told reporters in Buffalo when asked about the criticism, according to The Journal News. “You don’t have one on every corner because you don’t have that kind of demand. But if you need the drug, you can get the drug.”

Earlier this month, the nonprofit Drug Policy Alliance issued a report saying patients

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New York Governor Unaware of MMJ Program Problems is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

The Big Picture: State-By-State Marijuana Ballot Initiative Update

By John Schroyer

This year could prove a turning point for the legal cannabis industry, with at least 15 potential ballot measures in 12 states that could go before voters in November.

If some or most are approved, that could translate into untold business opportunities for cannabis entrepreneurs across the nation.

But there are risks, too, particularly if California’s proposed recreational marijuana ballot measure is rejected on Election Day. That could set back marijuana legalization in California – and the entire country – by years.

At of now, the ballot initiative picture isn’t entirely clear. Some initiatives have earned

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The Big Picture: State-By-State Marijuana Ballot Initiative Update is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs