Green Insights Daily - 11/21/2023

What we're reading around the web.

Author

Andrew Berman
November 21, 2023

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

Trulieve Cannabis and Cresco Labs are strategically exiting some state markets.

The cannabis industry is witnessing significant changes, with contraction in Massachusetts signaling wider regulatory or market challenges. Major multistate operators like Trulieve Cannabis and Cresco Labs are strategically exiting some state markets, influenced by tough economic conditions and sluggish federal reform, to focus on more profitable regions. In the legislative arena, U.S. Senator Kirsten Gillibrand endorses the Marijuana Justice Act, advocating for federal marijuana legalization and expungement of related convictions. Local developments include Babylon's consideration to relax zoning restrictions for cannabis shops, potentially increasing dispensary sites. Additionally, a large marijuana grow house in Florida indicates preparations for anticipated legalization of recreational cannabis. These varied developments across states and at the federal level underscore the dynamic and adaptive nature of the cannabis industry.

Cannabis challenges in Mass. causing contraction across the industry

Cannabis challenges are causing contraction across the industry

www.nbcboston.com/boston-business-journal/cannabis-challenges-in-mass-causing-contraction-across-the-industry/3198108

Cannabis multistate operators exit more states in latter half of 2023

After years of rapid expansion, cannabis multistate operators exited state-legal markets this year in an effort to strengthen balance sheets.

mjbizdaily.com/cannabis-multistate-operators-exit-more-states-in-latter-half-of-2023

US Sen. Kirsten Gillibrand Calls on DEA to Reclassify Cannabis as Schedule III

The New York Democrat says cannabis “is simply not comparable to other Schedule I substances like heroin, LSD and MDMA.”

www.cannabisbusinesstimes.com/news/us-senator-kirsten-gillibrand-calls-on-dea-to-reclassify-cannabis-schedule-iii

Babylon may loosen cannabis shop zoning restrictions

The measure would add dozens of potential locations for recreational cannabis dispensaries in Babylon, according to town officials, who will hold a Dec. 6 public hearing on the proposal.

www.newsday.com/long-island/towns/cannabis-babylon-c3k2myqq

Giant Florida marijuana grow house sets stage for recreational pot

The giant facility is the first step in a plan to ramp up production when if recreational marijuana for adults becomes legal in Florida next year and the federal government eventually downgrades it…

www.orlandosentinel.com/2023/11/21/giant-florida-marijuana-grow-house-sets-stage-for-recreational-pot

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