Cannabis Investing Is a Moral Imperative

Last Thursday, a new bill was introduced that would effectively end the federal prohibition on medical cannabis.

While I was certainly happy to see this bipartisan effort created, I was also reminded of how frustrating it is that such a bill needs to be introduced in the first place.

Why do we have to ask permission to treat our own illnesses as we see fit?

Read more at High Times

PNC Bank Starts Closing Marijuana Accounts—Advocates Blame Sessions

Fearing that U.S. Attorney General Jeff Sessions will make good on his threat to impose a crackdown on the legal cannabis trade, PNC Bank, one of the largest financial institutions in the United States, has decided to sever all ties with any organization connected to marijuana.

According to the Washington Post, PNC recently told national marijuana advocacy group, the Marijuana Policy Project (MPP), that it was permanently terminating its accounts because an internal audit showed the group distributes funds to assist in efforts to legalize marijuana.

‘‘They told me it is too risky. The bank can’t assume the risk,’’ said Nick Field, MPP’s chief operating officer.

Read more at High Times

Marijuana Legalization Is Good for Commercial Real Estate—Contractors Too!

The legalization of marijuana is driving up the cost of commercial real estate in major cities all across the nation.

According to a report from Bloomberg News, marijuana startups hoping to secure retail space in highly populated areas in states that are working to launch recreational marijuana sales—like California and Massachusetts—can expect to shell out significantly more per square foot than what would have been required before legalization.

The report, which is based on the latest data provided by CoStar Group Inc, shows this inflation in rents is nothing that the cannabis industry hasn’t experienced before.

Read more at High Times

Legal Pot to Boost California Economy by $5 Billion

California is preparing to launch a fully legal cannabis trade that stands to boost the state’s economy to the tune of $5 billion, according to a report from the Los Angeles Times.

The piece, which is based on a new study from the University of California Agricultural Issues Center, says that, while the state’s newest version of a cannabis industry will undoubtedly generate impressive revenues, it will likely take some time before the entire scope of the cannabis community gets onboard with a fully legal system.

The study shows that around 30 percent of the state’s pot buyers will still frequent the black market in order to avoid paying taxes and other aspects of the legal trade.

Read more at High Times

Colorado’s Pot Windfall Taxes Figure into State’s Recently Approved Budget

As legal weed in Colorado continues to rake in millions, the state released its budget last Friday. Anti-pot governors and federal legislators should take a good look at the pot tax windfall and how it’s going to be spent.

The budget not only manages to avoid what Colorado Governor John Hickenlooper called “draconian cuts” to hospitals and schools, it actually boosts school funding, averts the expected hospital cuts and secures millions of dollars for a new state-led program to combat homelessness, per the Denver Post.

Colorado’s Marijuana Tax Cash Fund, more than $105 million for the 2016-17 fiscal year, will be spent on health programs in public schools, housing for at-risk populations and a new treatment program to deal with the opioid crisis, according to public state data.

Read more at High Times

Brits Waste Tons of Money on Policing Weed—But Not as Much as We Do

One of England’s important political parties, the Liberal Democrats, just announced that one million hours are annually wasted policing the country’s ban on weed.

The Liberal Dems gathered this data from official sources, reported the Independent. Research showed that a total of 87,247 police caseloads were opened in 2015—that amount cost taxpayers an estimated $2,500 per case.

This is a lot of police power and money for a country of 53 million people where cannabis is “freely available and widely used,” according to the Liberal Dems, who say they will legalize cannabis if they are elected in the upcoming elections scheduled for June 8.

Read more at High Times

Minnesota Medical Pot Providers Run $11M in Red

BY KYLE POTTER

ASSOCIATED PRESS

ST. PAUL, Minn. (AP) — Minnesota’s two licensed medical marijuana manufacturers have lost a combined $11 million in just two years of sales, according to financial documents obtained by The Associated Press, continuing losses that hint at systemic problems with the state’s tightly regulated program despite a recent expansion that allowed thousands more patients to buy the medication.

Read more at High Times

Oregon: Controversy Over Legal Cannabis Revenues

Oregon voted to legalize cannabis way back in November 2014, but promises of state coffers filled with canna-dollars are apparently being held up by an arcane bureaucratic logjam. 

Newsweek recently noted a May 5 report from Oregon’s KWG News, finding that the state has brought in close to $75 million in cannabis tax revenue since the start of 2016—yet not a penny has gone to actually closing Salem’s yawning $1.6 billion budget deficit.

The intended recipients are to be local schools and police agencies, but the legalization law dictates that before anyone else gets paid, the Oregon Liquor Control Commission (OLCC) must be reimbursed for administrative costs associated with setting up their new cannabis program.

Read more at High Times

POTN Stock—Is Now the Time to Invest in Cannabis Shares?

This post is sponsored by Chronic Journal.

Being successful in the stock market is all about watching market trends and jumping on new opportunities as soon as they arise. With that in mind, this may be the best time to consider investing in marijuana.

After all, marijuana has recently become legal in even more states throughout the United States, and thus it is highly likely that it will quickly become a big market in California and elsewhere around the country. In short, when Los Angeles voters approved Measure M and created regulations for adult-use marijuana, the City of Angels was quickly positioned to steal the title of “Marijuana Capital” from Denver.

Read more at High Times

DOJ Reminds Its Minions to Stay Away from Bankruptcy Cases Involving Weed

People working honest jobs in the legal weed industry are getting it from all sides; the government keeps refusing to treat them like valid business people.

First, legal weed entrepreneurs are prohibited from using the banking system, creating all manner of complications for companies forced to deal in cash only.

Despite the fact that weed businesses and dispensaries pay taxes, and in some cases quite a lot of them, they are not allowed to deduct business expenses associated with their work.

Read more at High Times