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When Republican presidential candidate Donald Trump came out in favor of Amendment 3, the adult-use marijuana ballot measure slated for a vote on Nov. 5, it was yet another surprising wrinkle in the ongoing effort to legalize recreational cannabis in Florida.

"As a Floridian, I will be voting YES on Amendment 3 this November," Trump wrote on his social media network, Truth Social on Sept.8.

Supporters of the measure are hopeful that the former president's support will nudge some of the undecided voters – who represent 15% of the electorate – in the direction of a "Yes" vote.

With a little more than  a month to go before the national election, polls show the future of Florida adult-use cannabis balanced on a knife's edge.

MJBizDaily guest columnists Rachel Wright and Simon Menkes take a deep dive into the situation, including the opposition, funding on both sides and what's not in the adult-use ballot initiative. Read story >

More Headlines

• Marijuana legalization 'an issue for the states,' Democratic VP candidate says. Read story >
• Los Angeles County seeks to halt online ads for unlicensed cannabis stores. Read story >
• Marijuana MSO 4Front Ventures amends credit facility, seeks to refine fiscal plan. Read story >

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Big-picture view of global cannabis markets

R E T A I L

Premium marijuana brands report steady sales despite shaky economy

Photo courtesy of Made in Xiaolin

In a volatile economy, luxury goods often take a hit.

But a surprising trend has emerged in the cannabis industry: Many premium brands are not only surviving but thriving.

Despite economic uncertainty, luxury marijuana products continue to attract discerning consumers seeking premium experiences.

"Some consumers want the best in any category - cannabis or not," said Dana Mason, vice president of brand marketing at Chicago-based Cresco Labs, producer of high-end brands Mindy's Edibles and FloraCal.

"There are people who appreciate premium products and are willing to pay more."

Exclusivity – characterized by high price points and limited availability – is the key element of luxury goods, cannabis executives told MJBizDaily. Read story >

C A N A D A

Canadian cannabis sales hit yearly high of CA$440 million in July

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Canada's cannabis retail sales grew for the fifth consecutive month in July, topping 440 million Canadian dollars ($326.7 million) to reach the highest level so far in 2024.

According to the latest data from Statistics Canada, total retail cannabis sales in the country's industry grew by 1.6% compared to June. Read story >

H I R I N G

Cannabis software employee denied visa for work 'abetting' US drug law violations

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A cannabis software firm wants a U.S. judge to override immigration authorities who denied an employee a visa on the grounds that his work "aided and abetted activities related to violations of federal drug laws."

Ameya Vinayak Pethe, an Indian national, sought an H-1B visa to work in the United States as the director of development operations for Treez, a software platform for cannabis businesses.

Although Treez had sought similar visas many times in the past, U.S. authorities cited federal drug laws in denying the visa. Read story >

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More Headlines

• Ancillary firm aims to solve payment crunch for cannabis brands. Read story >
• Hemp bill introduced in Congress would ban synthetic THC nationwide. Read story >
• Village Farms buys remaining interest in Dutch cannabis producer Leli Holland. Read story >

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A G E N D A

MJBizCon Conference Agenda Now LIVE!

It's time to celebrate the launch of the most comprehensive MJBizCon to date — we're talking 200+ speakers and four full days of sessions.

This year we're doubling down on our International Regulatory Roundups conference Track. Below are a few session highlights. (Check back each week for more.)

INTERNATIONAL REGULATORY ROUNDUP

Crafting an Authentic Brand in the Cannabis Industry

Fri, Dec. 6 • 10:50 - 11:30 a.m.

Deepak Anand

Principal, ASDA Consultancy Services

Deepak Anand is a recognized thought leader and subject matter expert who has experience with senior government officials, policy makers, investors, tobacco and CPG businesses as well as global cannabis producers. Anand was executive director for the Canadian National Medical Marijuana Association, was the founder and CEO of Materia Ventures, an international cannabis processing, manufacturing and distribution business. He served on the boards of various pharmaceutical associations across Canada, the U.S. and Europe.

Mariana Larrea Arias

Life Sciences and Cannabis Attorney, MLAW Boutique

Mariana Larrea is a distinguished Mexican attorney with a specialization in Life Sciences, Cannabis, Pharmaceutical, Corporate/Contracts, and Consumer Protection. With a decade of professional experience, she honed her skills at some of Mexico City's most influential law firms. Mariana earned her law degree and a diploma in business law from the National Autonomous University of Mexico (UNAM), solidifying her expertise in efficiently delivering results to her clients across various legal domains.

Raj Grover

Founder, President & CEO, High Tide, Inc.

Raj has established himself as one of Canada's foremost business strategists and dealmakers. He is the founder of High Tide and its subsidiary companies Valiant Distribution and Canna Cabana and is the co-founder of High Tide's subsidiary, Famous Brandz. Through organic growth and strategic acquisitions, High Tide has grown from one small shop of two employees in 2009 into Canada's largest cannabis retailer with over 180 locations and over 1,600 amazing team members and business interests spanning North America and Europe.

R E S O U R C E S

• MJBizMagazine Sept/Oct issue: High Stakes Election
• Fuel Your Fire at MJBizCon, Dec. 3-6 – Register now
• Gain new leads + land big deals at MJBizCon – Book a booth
• Make informed decisions with MJBiz Factbook – Get data
• MJBiz Free Cannabis 101 Course – Sign up and start learning
• MJBizDaily Reports and Buyers Guides – Download
• MJBiz Media Kit – Advertise with us

MJBizDaily is the leading resource for the cannabis industry, cited by The Wall Street Journal, Forbes and Harvard Business Review. MJBiz also produces the No. 1 cannabis business conference, MJBizCon.

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MJBizCon 2024

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