State Legalization Bills Are Flying, M&A Is Heating Up: Week in Review
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State Legalization Bills Are Flying, M&A Is Heating Up: Week in Review

The most notable legalization news this week came out of Connecticut (good) and South Dakota (bad).

February 13, 2021

We are in the midst of state legislation filing season, and this year’s flurry of reform bills are buoyed by some serious political momentum out of Washington, D.C., and the growing number of adult-use states in the U.S.

In Connecticut, for instance, the governor specifically cited Massachusetts’ booming industry as a reason to legalize cannabis this year—with an eye on May 2022 for sales. “Our neighboring states are offering recreational marijuana on a legal and regulated basis,” Gov. Ned Lamont said in a budget address to the state. “Massachusetts dispensaries are advertising extensively here in Connecticut. And rather than surrender this market to out-of-staters, or worse, to the unregulated underground market, our budget provides for the legalization of recreational marijuana.”

The Connecticut news tops our Week in Review, but there are plenty of other stories to check out in mid-February. Here’s what you need to know:

  • If Gov. Ned Lamont gets his way, Connecticut will no longer wave the white flag to out-of-state cannabis markets, like neighboring Massachusetts, that are currently deploying advertisements to funnel away potential revenue streams. Read more 
  • According to new data from the Colorado Department of Revenue, 2020 was the highest-selling year for cannabis in Colorado. The state is approaching $10 billion in sales since 2014. Read more 
  • Fox Rothschild attorneys share their specialized perspectives on the M&A landscape in the cannabis industry, as well as what factors play a role in accelerating consolidations in the rapidly expanding market in the U.S. Read more 
  • After South Dakota Gov. Kristi Noem supported a lawsuit that questioned the voter-approved amendment from November, Circuit Judge Christina Klinger rules the measure violated one of the state’s constitutional amendments. Read more 
  • A city of 11,000, Ontario, grosses $91.7 million in 2020 to take over ‘Highest County’ title in Oregon after local voters overturn ban on cannabis sales. That’s just the start of it. Read more 

And elsewhere on the web, here are the stories we’ve been reading this week:

  • ESPN: Former Lions Calvin Johnson, Rob Sims believe in the science, potential of cannabis industry. Read more 
  • California Fast-Tracking Cannabis Business Licenses for Refugees. Read more 
  • Marketwatch: Best-Performing Marijuana ETF Manager Says the Industry Will Be Transformed By Iconic Consumer Brands. Read more 
  • Forbes: Billionaire Beau Wrigley Says His Cannabis Company Will Be Bigger Than the Family Candy Business. Read more 
  • The Street: Aurora Cannabis CEO Talks Q2 Results, Cannabis Industry Outlook. Read more