June was the best month yet for Illinois marijuana dispensaries

Illinois marijuana dispensaries sold more than $47.6 million worth of products in June, according to the Illinois Department of Financial and Professional Regulation.

During that time, 994,545 items were sold, averaging almost $48 per purchase, not including taxes. Tax figures will be released later this month by the Illinois Department of Revenue.

The state most recently received $12.5 million in marijuana taxes and associated sales taxes in May, according to IDOR. That brings the state’s tax collections from marijuana legalization to $52.7 million for the five months of operation. That’s well above the $28 million estimated in this year’s budget, which ended June 30.

Towns and counties that allow marijuana sales began adding their own taxes at the beginning of this month for the first time, which will generally increase the purchase price between 3% and 3.75%.

Since legalization began…

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The First Pot Stock to Hit $1 Billion in Annual Sales Will Be…?

If you thought the stock market has been on a wild ride in 2020, pan out a bit and take a gander at the volatility that marijuana stock investors have contended with over the past couple of years. Through March 2019, you could practically have thrown a dart at a list of cannabis stocks and come out a winner. However, over the past 15 months, most pot stocks have lost half or more of their value.

As is the case with all next big thing investments, the industry needs time to mature. The good news, though, is that there is light (and plenty of green) at the end of the tunnel for cannabis stocks.

Perhaps what’ll truly vindicate marijuana as a viable investment opportunity is a publicly traded pot stock generating $1 billion in annual sales. While our neighbors to the north have their work cut out, there are three pot stocks focused on the U.S. market that do have the potential to reach $1 billion in annual sales within the next couple of years. The question is, which cannabis stock gets there first?

GW Pharmaceuticals

If the definition of “cannabis stock” includes a company whose….

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Israel: Cannabis Powerhouse

Israel is among the world’s leaders in the medical and non-medical cannabis research and development (R&D). Israeli scientists made breakthrough discoveries in the mid-twentieth century, paving the way for the country being one of the early adopters of a medical cannabis program. Now, Israel is gearing up to legalize recreational cannabis and export cannabis across the globe and become one of the leading nations in the global cannabis trade. In this post, I briefly examine the history of cannabis in Israel and what the future may hold for the country.

While cannabis has been used for thousands of years in ancient sites in Israel, the country’s developments in the last few decades have been extremely significant. In the 1960s, Israeli chemist Raphael Mechoulam began making breakthroughs in researching cannabis, becoming the first researcher to isolate the THC compound. Fast forwarding a few decades, in the 1990s, the Israeli government began researching and studying potential reforms for cannabis in Israel.

Cannabis in Israel has long been regulated under the Dangerous Drugs Ordinance as a dangerous drug (sort of like cannabis in the US and the Controlled Substances Act). Nevertheless, the first medical cannabis authorizations were allowed in Israel in the

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Campaigners Call for More Rare Epilepsy Patients to Be Given Cannabis Oil Drug

A cross-party group of MPs has written to Health Secretary Matt Hancock demanding action.

Health Secretary Matt Hancock was tonight urged to tear up red tape campaigners say is hampering prescriptions of medical cannabis for children with rare epilepsy.

There have been no new NHS prescriptions for full-extract cannabis oil since the medicinal use of the drug was legalised more than 18 months ago, it emerged this month.

Experts say strict guidelines make it difficult to get hold of the treatment on the NHS.

– Read the entire article at Mirror.

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Waiting for Cannabis Stocks to Rebound? Prepare to Wait a While Longer

The Canadian cannabis sector was absolutely savaged in 2019 as fundamental issues with demand and sky-high expectations from retail investors collided.

With the hot air largely out of Canadian cannabis stocks by year-end, investors started buying many of the beaten-down names in early 2020 expecting the next few months to be the bottom before a multi-year uptrend began.

Things haven’t worked out as expected so far and with the release of new data from Health Canada, we now know why.

– Read the entire article at Grizzle.

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