StaffThe Daily Hit is a recap of the top financial news stories for Wednesday, July 10, 2024.
On the Site
California’s cannabis industry shifts 710 strategy on heels of new vape rules
Sales of concentrates are on the rise across the country, even as California operators adapt to new terminology and a focus on sustainability.
Tension-filled meeting as New York cannabis regulators approve new licenses, rules
The proposed rules will expand how cannabis operators can advertise in the state.
New York claps back at two cannabis lawsuits
New York responded to the case against Operation Padlock and the Variscite case against residency requirements.
Connecticut cannabis equity council director steps down amid inquiry
The council is undergoing a review after officials received complaints about a lack of transparency.
Illinois cannabis sales soar, while Connecticut’s market falters
Illinois cannabis sales continue to grow, while Connecticut has struggled to keep sales even.
Maryland cannabis sales top $1.1B in first year
Of 205 selected social equity applicants, 53.7% reported majority Black or African American ownership.
In Other News
Cannabis-infused beverages
Cannabis-infused beverages have become, according to one industry estimate, a nearly $200 million endeavor in Minnesota. There are about 4,000 licensed retailers.
Cannabis labor unions
The National Labor Relations Board must explain why it applied one legal test over another when analyzing whether a union representation election at a Chicago cannabis dispensary was fair, the D.C. Circuit said Tuesday, sending the dispensary’s challenge to union certification back to the board.
Washington, D.C.
Ahead of the July Fourth holiday weekend, the Alcohol Beverage and Cannabis Administration in Washington, D.C., sent cease-and-desist orders to four unlicensed cannabis dispensaries.
