Cannabiz Media conducted a research study to identify POS software providers and market shares in mid-2019. The report found that there are 68 unique POS software providers in the U.S. cannabis industry (up 58% from 43 in December 2018). Green Bits is the market share leader in states with adult-use cannabis programs and in METRC states overall!
The annual report from the national cannabis advocacy group, Americans for Safe Access (ASA), gave every state a letter grade corresponding to the strength of their MMJ program. The ASA grade book uses five strict rubrics to tally each state, including consumer safety and provider requirements; functionality; patient rights and civil protection; ease of navigation; and access to medicine. At the top of the class, Oregon and Illinois were the only two states awarded an A- grade.
In Illinois Gov. J.B. Pritzker signed legislation expanding the state’s medical cannabis program, including one bill that makes the program (which was set to expire next year) permanent. The legislation also expands the qualifying conditions list and allows nurse practitioners and physician’s assistants to certify patients for the program.
Recreational cannabis taxes in the state are expected to be between 20% and 30%; however, medical products will be only subject to the 1 percent pharmaceutical tax.
In Michigan regulators are hosting a meeting to receive public comment on marijuana licensing and rules on August 29th.
In Washington, State regulators announced a delay in releasing draft conceptual marijuana penalty rules.
The National Credit Union Administration (NCUA) said in its interim guidance that providing banking services to hemp businesses is allowable since the crop and its derivatives were federally legalized under the 2018 Farm Bill. The notice also emphasized the economic potential of hemp and the role credit unions can play as the industry continues to develop.
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