We are hosting our monthly Cannabis Q&A call today at 2PM EST. Submit your questions to before or during the live presentation.
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CLICK HERE for event details (includes video and materials link). |
IIPR's take on cannabis legislation
“We are closely monitoring the status of the bills in Congress and the evolving dynamics of both Congress and the administration, including the Seante voting dynamics. In our view, and of course this is just our view, we see certain bills like the SAFE Act, where bills had addressed the 280 tax issue as perhaps near-term and bills such as the STATES Act further on the horizon.” Paul Smithers CEO of Innovative Industrial Properties
Alabama Senate moves medical cannabis bill to the House
The Alabama Senate passed a bill to legalize medical cannabis. The bill will now head to the state House of Representatives. A similar bill was passed by the Senate last year, but did not come up to vote during the pandemic. The bill is not the pro-cannabis bill that advocates want, because it prohibits raw cannabis, smoking, vaping and candy or baked good products. Patients would instead be allowed to purchase capsules, lozenges, oils, suppositories and topical patches. It also requires chronic pain patients to use other medications first.
Pre-Rolls are taking share
Sales of cannabis pre-rolls grew 47% last year in California, Colorado, Nevada, Oregon and Washington. The overall cannabis market grew 39% while flower grew 54%. Pre-rolls now have 10% market share, gaining 0.5%. Early in the pandemic many thought sales of the product would drop during a respiratory virus outbreak. The convenience of pre-rolls have made it the second fastest growing product category. Smaller size pre-rolls have also added to the popularity.
