The cannabis industry continues to evolve with significant developments in business, legislation, and societal impacts. Here’s a roundup of the latest news:

Mergers and Acquisitions: A New Era

A recent report by Bianchi & Brandt, a corporate law firm, reveals shifts in the cannabis industry’s M&A trends. With a focus on small and medium-sized businesses, the industry is moving away from its initial frenzy of high valuations and informal deals to a more stable environment. This correction is seen as vital for the long-term sustainability of the industry.

Legislative Progress and Challenges

• Florida: The Florida Supreme Court appears likely to allow a cannabis legalization proposal on the 2024 ballot, marking a significant step forward in the state’s cannabis policy.
• Maryland: Marking a milestone in social equity, Maryland has opened its first round of adult-use cannabis licensing, prioritizing social equity applicants.
• South Africa: In a significant international move, South Africa’s National Assembly has approved a bill to legalize personal cannabis use.

Economic Impacts and Studies

A study suggests that legalizing adult-use cannabis in Ohio could lead to approximately $260 million in net societal benefits, highlighting the potential economic impact of cannabis legalization.

International and Regional Developments

• Switzerland: As part of a pilot program, two legal cannabis stores will open in Switzerland.
• Germany and New York: Cannabis legalization is advancing in Germany, while New York plans to issue additional licenses.

Industry and Labor Relations

The National Labor and Relations Board (NLRB) has approved a settlement between a Missouri cannabis company and a union, reflecting the growing importance of labor relations in the cannabis sector.

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