Lawsuit Against US Attorney General And Record Cannabis Sales, Two Of Many 2023 Marijuana Milestones
Portfolio Pulse from Nina Zdinjak
The cannabis industry saw significant milestones in 2023, including Ohio legalizing recreational marijuana and President Biden pardoning cannabis possession convicts. A lawsuit against U.S. Attorney General Merrick Garland by cannabis operators challenges the Controlled Substances Act's enforcement. Jane Technologies partnered with Square (NYSE:SQ) for online cannabis dispensary services. The industry faces capital challenges due to lack of federal legalization, affecting liquidity and innovation. 24 states have enacted record clearance laws, and 10 have resentencing laws for cannabis offenses.
December 27, 2023 | 12:46 pm
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Square, owned by Block Inc. (NYSE:SQ), partnered with Jane Technologies, an online ordering platform for cannabis dispensaries, marking its entry into the cannabis market.
The partnership with Jane Technologies indicates Square's entry into the cannabis market, which could lead to increased business opportunities and revenue streams. Given the growing acceptance of cannabis and the potential for federal reforms, this could positively impact Square's stock in the short term.
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