In today’s HK Cannabis Law Newsletter, we present articles and information regarding the leveraging of RICO statutes to fight illicit cannabis operators, California’s new Department of Cannabis Control, soaring cannabis tax revenue in California, drought and fire risks to the industry… and more!
California has officially finished consolidating the various cannabis licensing agencies under the auspices of the new Department of Cannabis Control;
According to the Legislative Analyst’s Office, preliminary calculations suggest that California collected over $800 million in adult-use marijuana tax revenue during the 2020-2021 fiscal year, a 55 percent increase from the prior year;
Armed security, the drought, and fire risks overlap in the emerald triangle; and
Surplus cannabis product is driving prices down.