Welcome to This Week in Cannabis News. Rewatch this week's episode which originally aired on Dutchie's LinkedIn page.
The U.S. Census Bureau has released a map detailing cannabis tax contributions to state revenues and it shows that cannabis can be good for tax revenue. Data from Q3 2021 to Q2 2023 reveals that five states reported cannabis taxes making up more than 1% of their total tax revenue: Oregon (3.19%), Michigan (2.16%), Illinois (2.04%), Alaska (1.32%), and Colorado (1.21%).
Since 2014, Colorado dispensaries have sold over $15 billion worth cannabis - generating over $2.5 billion in cannabis tax revenue.
Some forms of medical cannabis will now be available at independent pharmacies in Georgia. There are around 14,000 patients in Georgia and about 120 pharmacies have applied to sell THC oil, produced by Botanical Science.
Gov. Gavin Newsom has vetoed a bill that aimed to allow Amsterdam-style cannabis cafes in California. If he didn’t veto it, the bill would have allowed cities and counties to authorize retailers to serve food and beverages and sell tickets to live performances. The Governor noted that the bill might compromise the state's smoke-free workplace protections
A study in the Annals of Regional Science found that the opening of licensed dispensaries does not negatively impact local crime rates. Diving deeper, researchers from John Hopkins University and the University of Hawaii looked at dispensary openings and crime rates in Washington state's three largest cities. The conclusion from the research has "null effect on average local crime."
For this week’s Cannabis Expert, we share an on-demand segment we recently published with Liz Ely from Dutchie Insurance talking about cannabis business insurance for New York cannabis business applicants.
As always follow all things Dutchie on our blog at business.dutchie.com/blog and we’ll see you next Friday at Noon Eastern/9 AM Pacific on Dutchie’s LinkedIn page.