D.C. Lawmakers Approve Medical Marijuana Bill With License Cap Elimination, Patient Self-Certification And Tax Relief

Washington, D.C. lawmakers have advanced an amended bill to fundamentally reshape the District’s medical marijuana program—including by eliminating cannabis business licensing caps, providing tax relief to operators, further promoting social equity and creating new regulated business categories such as on-site consumption facilities and cannabis cooking classes. The District Council’s Committee on Business and Economic Development […]

Three In Four Americans Support Marijuana Legalization, Expungements And Banking Reform, New Poll Finds

About three in four American voters—including bipartisan majorities—support ending federal marijuana prohibition, expunging prior convictions and allowing banks to work with state-legal cannabis businesses, according to a new poll. The survey from Data for Progress that was released on Monday builds on recent polling that similarly shows that Americans are ready for fundamental cannabis policy […]

Cannabis investment firm RIV Capital posts loss with impairment on Etain acquisition

RIV Capital Inc. on Tuesday reported a second-quarter loss of $141.9 million, or 84 cents a share, from a loss of $7.79 million, or a penny a share, in the year-ago quarter. Revenue increased to just under $2 million from zero revenue in the year-ago period. The latest quarter included a non-cash, goodwill impairment charge of $138.9 million related to its acquisition of New York-based cannabis company Etain, which it expects to close before the end of the year. RIV Capital, which was formerly called Canopy Rivers when it was part of Canopy Growth Corp. , ended the quarter with $165 million in cash for its Etain investment and other potential M&A deals. Scotts Miracle-Gro Co. -backed RIV Capital Inc. in March agreed to pay about $247 million to acquire Etain LLC and Etain IP LLC, the New York cannabis market’s only women-owned and operated business and one of 10 approved vertically integrated operators in the state. OTC shares of RIV Capital are down 81% in 2022, compared to a loss of 56.8% by the AdvisorShares Pure U.S. Cannabis ETF and a 29.4% drop by the Nasdaq . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

New congressional leaders on cannabis (Newsletter: November 29, 2022)

Young Americans twice as likely to smoke marijuana than cigarettes; Colombia & Mexican presidents want drug war review; TX cannabis decrim pushback Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day. (function() { window.mc4wp = window.mc4wp || […]

Colombian And Mexican Presidents Announce International Effort To Reshape Drug Policy, Condemning ‘Failure’ Of Prohibition

The presidents of Colombia and Mexico announced that they will be bringing together other Latin American leaders for an international conference focused on on “redesigning and rethinking drug policy” given the “failure” of prohibition. As lawmakers in both countries work to advance marijuana legalization, Colombian President Gustavo Petro and Mexican President Andrés Manuel López Obrador […]