Hello, Cleveland!

Ohio to vote on cannabis this November.

Daily Recap

Ohio made it official: adult-use cannabis will be on the ballot this November.

This is no small feat, particularly given Florida and Pennsylvania may be lining up behind the Buckeye State for a potential Triple-Lindy of Swing State Swagger into next year’s election cycle.

And it certainly doesn’t hurt that the Chairman of the Senate Banking Committee is in a tight race in the next election. I’m not going to say that Sen. Sherrod Brown (D-OH) is playing politics with this issue but I will say this issue could now play politics with Sen. Sherrod Brown.

Missouri, meanwhile, posted it’s sixth consecutive month where the state dispensaries surpassed $100M in combined sales and after a strong July, has now surpassed $750M for the year, and counting. All these hundreds of millions-slash-billions add up which begs the question: why is U.S. canna still an all-cash business?

Up north, Canadian cannabis company Canopy Growth is selling it’s Hershey Drive facility in Ontario for C$53M. The company purchased it in 2017 to set up the largest indoor cannabis-production facility in Canada at the time. Once this deal is closed, Canopy will have sold a total of seven properties for about C$155M since April.

In other sector news, Minnesota marijuana regulators laid out their roadmap for implementing legalization with an eye toward 2025; yuppies are trying to harsh Connecticut’s mellow; more cash means more risk for U.S. canna employees; the Census Bureau has finally started to include cannabis businesses in their data; the push is on to adopt a universal cannabis label; Germany’s cannabis insurance payouts hit 51 million euros in Q123; the Peach State is in favor of the green plant; the New York Assembly Speaker threw cold water on the specter of a quick fix for their state’s roll-out disaster, surprising absolutely nobody and we dig deeper into AYR earnings, review the Cresco quarter and take a fresh peek at the U.S. canna Q2 scorecard.

All that, and more, just scroll down…

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