By Janet Jackim, Partner, Cannabis Practice Chair In just the first six months of Arizona’s adult-use marijuana program, which commenced in January 2021, the state received combined medical and adult-use tax revenue totaling nearly $75 million. With combined sales in March 2021 reaching $120 million, according to the Arizona Department of Revenue, $1 billion in…
By Robert A. Mandel, Dr. Jayashree Mitra, and Jonathan M. Purow Despite the absence of White House support, United States Senate Majority Leader Charles Schumer (D-N.Y.) unveiled on Thursday a preliminary draft of the ambitious Cannabis Administration and Opportunity Act (“CAOA”), which, if enacted, would decriminalize cannabis if cultivated, manufactured, sold, administered, used, and possessed in a regulatory-compliant manner and preserve at least parts of existing…
Unlicensed cannabis retailers take away tax revenue from state and local governments, and force those governments to divert needed public funding for investigation or prosecution. Unlicensed cannabis puts financial pressure on legal operators that are struggling to apply, comply, and prosper. Lack of quality control at unlicensed cannabis businesses also poses a public health risk…