President Donald Trump has nominated Terrance C. Cole to serve as the next administrator of the Drug Enforcement Administration, replacing acting director Derek Maltz. Cole, a longtime DEA veteran who currently serves as Virginia’s secretary of Public Safety and Homeland Security, has voiced strong opposition to marijuana legalization efforts, according …
This story was reprinted with permission from Crain’s Detroit. Gov. Gretchen Whitmer’s road funding plan would take a tire iron to Michigan’s legal cannabis industry. The plan outlines $2.2 billion in new taxes, including adding a wholesale tax to marijuana sales to generate $470 million. Whitmer called the new tax …
Sky Marketing Corp. has acquired CBD beauty and wellness brand Prima from The Hedgehog Co. for an undisclosed amount, according to Beauty Independent. The deal gives the hemp consumer packaged goods holding company a strategic foothold in the CBD beauty sector, complementing its existing portfolio that includes cannabis edibles maker …
California’s cannabis industry, once expected to be a model for legalization, is now facing a wave of financial distress, with an increasing number of businesses falling into receivership. Struggling with high taxes, regulatory complexities and oversupply, many operators are finding it difficult to stay afloat in the nation’s largest legal …