Green Insights Daily - 11/15/2023

What we're reading around the web.

Author

Andrew Berman
November 14, 2023

Here are five stories we're discussing in the Cannabis Professional newsroom.

Weed Vs. Beer

In the world of legal cannabis, Michigan is setting records with its recreational marijuana excise taxes, surpassing those from alcohol sales and raking in nearly $100 million more than last year. Over in New York, a legal tussle involving veterans has finally cleared the path for the state's delayed dispensary rollout. Meanwhile, the Shinnecock Nation in Long Island is making waves with the opening of its first tribally-owned dispensary, offering a unique range of Indigenous cannabis products. In the corridors of Congress, there's serious talk about the economic benefits of rescheduling cannabis, thanks to a new report spurred by Biden’s initiative. And let’s not overlook New Jersey, where legal weed dispensaries have impressively sold over $734 million in products in just one year, showing the remarkable growth potential in the industry.

Recreational marijuana brings in more tax revenue than beer, wine and liquor combined ($)

During the 2023 fiscal year, which ended on Sept. 30, the state of Michigan collected nearly $100 million more in recreational marijuana excise taxes than in fiscal year 2022, according to a House Fiscal Agency report released last week.

www.crainsdetroit.com/cannabis/legal-weed-tax-revenue-surpasses-beer-wine-liquor-combined

Settlement in NY cannabis case could restart long delayed legal weed dispensary rollout ($)

The lawsuit was filed by four service-disabled veterans who charged that the NY state legal weed program prioritized social justice goals by first giving out licenses to people impacted by the Wa…

www.nydailynews.com/2023/11/13/settlement-in-ny-cannabis-case-could-restart-long-delayed-legal-weed-dispensary-rollout

Shinnecock Nation to open first tribally-owned cannabis dispensary on Long Island

The Shinnecock Tribal Nation will open the Little Beach Harvest dispensary in Southampton on Wednesday. The newly built 5,000-square-foot cedar building is positioned on the tribe’s territory near the Hamptons, and will also feature Indigenous brands and products.

www.wshu.org/long-island-news/2023-11-14/shinnecock-tribe-cannabis-dispensary-long-island

Congress Report Considerations Cannabis Economic Development

Following Biden’s call to reschedule cannabis, ​​the US Congressional Research Service has produced a report containing considerations for Congress if it decides to proceed with the rescheduling.

businessofcannabis.com/congress-report-considerations-cannabis-economic-development

NJ dispensaries are selling a ton of legal weed. Here's how much the state is cashing in.

New Jersey legal weed dispensaries sold more than $734 million in cannabis products from July 2022 to June 2023.

www.app.com/story/news/local/new-jersey/marijuana/2023/11/14/nj-legal-weed-dispensary-recerational-marijuana-sales/71533005007

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