United States

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Startups Hoping to Cash in on Marijuana

It’s called the “Green Rush.”

That’s the name given to the flood of investment into marijuana startups.

In California, new companies are trying to corner different parts of the medical marijuana market, hoping to position themselves for widespread legalization. Delivery is one hot spot for competition.  Companies are jockeying to become the “Uber” of pot.

I’m sitting with Kat Ilera in her apartment, waiting for a delivery of medical marijuana.

Ilera uses medical marijuana to cope with pain and anxiety. She was diagnosed with stage 4 breast cancer last fall. It quickly metastasized to her liver and spine. On Thanksgiving she got surgery on her back, which left her fairly immobile.

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Seattle restaurant wants marijuana on the menu

SEATTLE - A landmark restaurant could try to push the limits on menu options by putting pot on customers' plates.

If David Meinert has his way, the kitchen at The 5 Point Café will someday mix marijuana into the cuisine.

Meinert keeps his business edgy - much like the clientele at the restaurant - where tourists rub shoulders with motorcycle clubs. The state already licenses him to sell intoxicating liquors, Meinert said, and he wants to see it expanded to pot.

"I think there would have to be a new kind of retail license," he said.

The sky's the limit on how weed could fit into a food menu, and 5 Point Café customers think it could fly.

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Hospitality industry conflicted on social pot use

The proposed initiative that would allow Denver entrepreneurs to open their 21-and-up business and patio spaces to limited marijuana consumption has divided many in the city – and it’s not even clear yet if the question will land on the city’s November 2015 ballot.

While a new poll commissioned by the activists behind the measure shows voters supporting the initiative, many of the businesses that would decide to either allow cannabis consumption, or not, are vehemently against the proposal.

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Tropiflora vies for cannabis license

Dennis Cathcart is no fan of the full-blown medical marijuana movement in Florida, but he believes his Tropiflora nursery could successfully produce a certain type of cannabis for needy patients.

Six commercial nurseries, including the 40-year-old Tropiflora in southern Manatee County, are vying for state approval to cultivate and sell non-euphoric cannabis in Southwest Florida.

“When we first heard about it, we were pretty much opposed,” Cathcart said. “But then we discovered that the product is a derivative of the cannabis plant, not something that can be smoked or used to get high in any way. We feel like it’s a worthy thing.”

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Rand Paul backs effort to bring banking to legal marijuana businesses

Less than a month after holding a fundraiser on the sidelines of a Colorado marijuana conference, Sen. Rand Paul, R-Ky., is joining the fight to give America’s growing legal marijuana industry access to banking services.

Paul, the first major-party presidential candidate to publicly seek support from legal marijuana industry, is among the bipartisan co-sponsors of the Marijuana Businesses Access to Banking Act of 2015, introduced Thursday in the Senate.

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Marijuana Study Counter Gateway Theory

HealthDay News -- Marijuana may not be the "gateway drug" some believe it to be, a new study contends.

Instead, teens smoke pot for very specific reasons, and it is those reasons that appear to prompt their decision to try other drugs, researchers report.

For example, kids who use marijuana because they are bored are more likely to also use cocaine, while kids using pot to achieve insight or understanding are more likely to try magic mushrooms, according to findings published recently in the American Journal of Drug and Alcohol Abuse.

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Pot Is Now a Full-Fledged Service Industry

If you thought getting into the marijuana business meant starting a pot farm in Seattle or selling pot infused smoothies in Denver, think again.

That was so five years ago. Now, the cannabis industry has sprung anew.

You see, once the marijuana industry began to boom in 2014 due to legalization in some states, there came about, like any traditional goods-based industry, a fresh crop of for-profit service and infrastructure businesses to support it.

Since then, a successful cannabis ecosystem of financial and other services has been growing like a weed.

A Budding Industry

Here are just a few examples from a plethora of success stories:

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In U.S., 47% Say Legal Marijuana Will Make Roads Less Safe

WASHINGTON, D.C. -- As some U.S. states have legalized marijuana for recreational and medicinal use, 30% of Americans say legalization will make driving in those states a lot less safe. Another 17% expect it to make driving a little less safe. Half of Americans, however, say it will not make much of a difference.

Impact of Legalizing Marijuana on Driving, June 2015

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Ninth Circuit: Legal Or Not, Marijuana Facility Cannot Deduct Its Expenses

Legalized medicinal marijuana is yesterdays’ news; legal recreational marijuana is the way of the world now, and with each passing year, additional states are considering the legalize-and-tax regime first instituted by Colorado and Washington. While state law is becoming more and more accepting of the idea of free-market marijuana, however, a decades-old provision of the federal tax code remains firmly in place, threatening to administer a painful amount of tax on marijuana facilities, and serving as a greater barrier to entry into the industry than any outdated notion of moral or ethical impropriety.

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Legal Highs: Welcome to the Cannabis Revolution

Ms Zeng speaks quietly, almost in a whisper, with a strong Chinese accent. How long have you been having trouble sleeping, she asks her customer.

Maybe a few weeks, he replies. Ms Zeng asks if he feels that cannabis helps him fall asleep. "Definitely," he replies. The non-medical practitioner then gives him what she gives all her patients, regardless of their symptoms: a prescription for medical marijuana.

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