What Happens to Sales in IL without 4/20.
In April, Illinois cannabis sales for adult and medical use decelerated on a YoY and MoM basis. On a MoM basis, total cannabis sales in Illinois came in flat compared to up 15% last month. Both adult-use and medical sales individually were flat. On a YoY basis, cannabis sales were up 9% compared to up 13% last month. Going into the month, you would have expected a significant uptick in cannabis sales on a MoM basis, given that the industry reportedly saw increased sales from the 4/20 holiday.
NC Medical cannabis legalization bill on the move.
Following a committee vote on Wednesday, North Carolina is sending a bill that would legalize medical marijuana in the state to their senate floor. One interesting topic to watch here is around state licenses, “Before the vote to send the legislation to the floor, members discussed a possible future amendment to the bill that would make it so the ten licensed medical marijuana suppliers that would be permitted could each operate up to eight dispensaries, rather than four as currently allowed.” marijuanamoment.net
CA Exploring safe drugs consumption program.
California assembly committee approved a Senate-passed bill that establishes a pilot program that creates sites within the state where people could consume illegal drugs in a medically supervised environment. For this program to get approved, it needs to be voted on by the assembly committee before going back to the Senate for another vote before finally being sent to the Governor’s desk. Medical cannabis sales have been legal in California since 1996, and adult-use became legal in 2016. Many states are just now exploring different avenues to legalize cannabis while CA continues to move forward and explore ways to manage drug consumption in their state best. marijuanamoment.net
