Florida legislation could open up marijuana market in state

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Florida legislation could open up marijuana market in state

Two bills were introduced in the Florida Legislature that would break up the state’s vertically integrated medical cannabis regulatory structure, the Miami New Times reported. The bills come at a time that a drawn-out case challenging the constitutionality of the structure is set to be resolved by the Florida Supreme Court. Cannabis businesses are waiting for a resolution, with the expectation that new licensing opportunities will open up in the huge, fast-growing market, according to New Times.

An audio look at the top cannabis stories last week

Our podcast, “This Week in Marijuana Business News,” looks at a U.S. House panel passing a landmark cannabis legalization bill, Michigan handing out adult-use MJ licenses and the cloudy future of California’s cannabis operations, among other topics.

Cannabis firm MJardin posts drop in revenue, quarterly loss

MJardin, a marijuana production company based in Denver and Toronto, on Monday reported revenue of Canadian 7.6 million ($5.7 million) in the third quarter, compared with revenue of CA 9.15 million ($6.9 million) during the same period a year earlier. Mjardin also reported a net loss of  CA 3.6 million ($2.7 million) in the quarter ending on Sept. 30, compared with a gain of CA 1.6 million ($1.2 million) a year earlier.

A chart displaying the quarterly earnings for major cannabis companies is available here