U.S. Territory Could Make History in Legal Marijuana Industry

Posted on October 29, 2018 by admin

hawaii-marijuana It isn’t just U.S. states that are ready to jump on board – if they haven’t already – with legalizing marijuana. Legislators in the Commonwealth of the Northern Mariana Islands (CNMI), a U.S. territory, recently approved a bill to legalize marijuana.

By a margin of 18-1, with just one abstention, the CNMI House of Representatives passed the legislation. This piece of legislation seeks to end cannabis prohibition for adults over 21 and creates a system of taxed and regulated sales. It would also welcome medical marijuana and industrial hemp.

This is not the first time that the territory pushed for legalization. In May, the Senate approved a similar marijuana legalization bill. The proposal initially cleared a committee in the House, but its advancement was later halted in response to procedural concerns. It was said that revenue-generating legislation must originate in the House.

As a result, House lawmakers made a few changes to the Senate bill and filed a new proposal of their own. This piece of legislation then won approval by the full chamber.

“The people of the CNMI recognize that the prohibition of marijuana has been terribly misguided and harmful, and our leaders are in touch with the public’s sentiment on this issue,” Lawrence Duponcheel of Sensible CNMI said in a statement.

“Today, members of the CNMI House of Representatives showed their commitment to honoring the will of the people.”

If this bill is successfully enacted, CNMI will become the first U.S. jurisdiction to go directly from outlawing marijuana across the board to allowing recreational use. This is very unique, considering that the territory has no existing medical cannabis program; this is something that has been a precursor to broader legalization in a growing number of states.

It will also be an important milestone because it would make CNMI the first to legalize a system of regulated cannabis production and sales through an act of lawmakers, rather than a ballot measure. (Vermont passed a law earlier this year to legalize marijuana possession and home cultivation, however, the policy does not allow for any form of cannabis commerce.)

Justin Strekal, political director for NORML, commented on marijuana reform’s growing popularity with voters in an interview, saying that “The lawmakers and people of CNMI are on track to make history, and more U.S. policymakers would be wise to take notice before the upcoming midterm elections.”

The next step? The CNMI Senate is now expected to take on the House-passed marijuana legalization bill. These changes have the potential to open up enormous opportunity. Are you hoping to expand your operation or launch your business venture? Consider working with the team at Marijuana Merchant Account and jump in on the expansion of the marijuana industry.

Trump Hints at Supporting New Marijuana Bill

Posted on June 25, 2018 by admin

Indoor Marijuana Grow Room with Plants in Soil Under Lights Early this month, President Donald Trump shared that he was leaning towards supporting new bipartisan marijuana legislation – delivering a blow to Attorney General Jeff Sessions. U.S. Attorney General Jeff Sessions has been an outspoken opponent of marijuana. He lifted an Obama administration policy and freed federal prosecution to more aggressively pursue cases in states where marijuana has been legalized.

When addressing the media at the White House just before departing for the G-7 summit, the president said he would “probably end up supporting” the recent bill being circulated through the Senate by Gardner and Warren.

“I really do. I support Senator Garner,” Trump said. “I know exactly what he’s doing, we’re looking at it. But I probably will end up supporting that, yes.”

While this piece of legislation would not legalize marijuana, it would ease the federal ban on marijuana. At the moment, the marijuana industry is struggling to grow under a two-tiered enforcement system at the state and federal levels. If this proposal is successful, it would leave it up to each individual state to decide what the best approach to marijuana is within their state.

Don Murphy, conservative outreach director of the Marijuana Policy Projected, has called the bill the “most significant piece of marijuana-related legislation ever introduced in Congress.”

For consumers and merchants, this legislation would protect the individuals who choose to use or sell cannabis (as long as they are following state local laws). For example, the bill would amend portions of the Controlled Substances Act, ensuring that buying or selling cannabis would not be considered drug trafficking. Even so, some federal restrictions will remain (e.g. sales of non-medical marijuana to individuals under 21).

The Impact of New Legislation on Marijuana Merchants

Besides the ease in federal restrictions, how will President Trump’s support impact marijuana businesses? At the moment, marijuana companies are forced to operate in cash-only. They struggle to secure loans and merchant accounts from banks. The changes this bill would lead to would allow banks and financial institutions – currently fearful of federal prosecution – to freely work with any marijuana merchant adhering to state laws.

In the meantime, the marijuana industry continues to rely on high-risk providers like Marijuana Merchant Account. Your cannabis company can take advantage of a full suite of payment solutions that work for your business. These merchant services allow you to accept all card types for a convenient customer experience and utilize recurring payments for discount payments and memberships. ECheck processing also allows you to accept electronic checks over the phone or internet.

If you need secure payment processing, consider the many benefits of working with Marijuana Merchant Account. Your account can be setup in as little as 24 hours.

Marijuana POB | America Advocates for Cannabis Decriminalization

Posted on June 13, 2018 by admin

Marijuana Payment Processing Seems like only non-smokers and those who don’t mingle with cannabis users were shocked by this new Quinnipiac University national poll on marijuana legalization. If you didn’t see cannabis acceptance hit such a high so soon, then you have a lot to catch up with on the marijuana industry. To refresh your memory, California legalized recreational cannabis on the first day of this year, proof that the pursuit for decriminalization has been secretly on fire. Plus, more and more states want the drug legalized.

According to these statistics, an increasing number of American voters now support legalization of cannabis than ever. A whole 63 percent of U.S citizens want “legalization of the use of marijuana.” So far, this is the highest figure in the history of Quinnipiac polls.

“Growing from a stigmatized black market drug bought in the black market shadows to a well-liked treatment for several conditions, and to a nationally accepted recreational drug, cannabis has indeed gone mainstream,” says Tim Malloy, the Assistant Director Quinnipiac University Poll. And at this rate, we could achieve full decriminalization and open doors for more entrepreneurs to acquire Marijuana POB accounts.

Here are other findings of the same poll as regards to decriminalization of cannabis:

America wants Medical Cannabis legalized

Compared to the recreational sector, the medical marijuana industry has been performing well and attracting the attention of more U.S citizens. However, we didn’t estimate a ninety-four percent vote in favor of allowing the use of medical marijuana if a doctor prescribes it. Again, this was the highest figure in any poll by Quinnipiac University.

Weed is not a gateway drug!

There have been questions whether marijuana is a first step drug that leads to addiction to other drugs. But According to 61 percent of American voters, marijuana use does not foster abuse of other addictive drugs. Perhaps the nation is gaining more insight about the drug out of experience; or what other possible explanation can there be for these findings?

Major Supporters

Most Americans have been on the forefront of advocating for a high nation. This new poll has only confirmed the possible figures of those who have used recreational cannabis. 43 percent of U.S voters admitted to having used recreational weed with Men leading at 54 percent and Women following at 33 percent.

Federal Regulations on Marijuana should be lifted off

Americans feel that the government should lift off all federal laws against cannabis in states that have decriminalized the use of medical and recreational marijuana. A whopping 74% of voters support the bill safeguarding states that have made legal medical and recreational cannabis from federal prosecution.

Marijuana should be excluded from schedule 1

Schedule 1 consists of highly regulated drugs. And from the Quinnipiac University Poll, 76% of U.S Voters support the exclusion of cannabis as a Schedule 1 drug. A good percentage of America is probably wondering why the hell lawmakers are placing weed in the same class with the likes of heroin.

Marijuana Stocks | What You Need to Know

Posted on May 25, 2018 by admin

Cannabis leaf scattered on the dollars. Seamless image The legal marijuana industry won’t be slowing down any time soon. Recent research released in a report by cannabis research firm ArcView revealed just how fast the industry is growing. Through their partnership with BDS Analystics, ArcView discovered that North American legal weed sales grew by 33 percent in 2017 to $9.7 billion. The prediction is that they will continue to climb by an average of 28% annually through 2021. If this forecast turns out to be true, that would mean about $24.5 billion in annual legal pot sales by 2021.

So, what has led to this tremendous growth? What is driving marijuana sales? A big reason cannabis sales are rapidly climbing has to do with the changes that are slowly taking place throughout the country. The more time goes by, the public perception towards pot is more positive than negative. Numerous national polls in the U.S. have shown that the public has overwhelming responded in favor of marijuana for adult use.

Two potential changes to marijuana in North American have been named the biggest near-term growth drivers: California opening its doors to recreational marijuana sales on Jan. 1, and the discussion of a bill in Canada’s parliament. This bill would legalize recreational marijuana for adults this summer and would give the legal marijuana industry an opportunity to generate $5 billion in additional sales this year.

What you need to know about marijuana stocks

Thanks to recent growth, the number of ways to generate a profit in marijuana stocks has broadened considerably. Before, the model was simple and pretty straightforward. It involved dried cannabis growers, distributors and dispensaries. Now, the structure is a very vertical network of related jobs that support the industry and enable it to grow even further and thrive.

However, there is one cannabis product that has been named as the key for investors: cannabis oils. Even though dried cannabis is the most commonly sold cannabis product, it surprisingly is a relatively low-margin item. There are two pot stocks that stand to benefit the most from cannabis oil sales and are worth paying close attentions to:

MedReleaf (NASDAQOTH:MEDFF) has been a pioneer in pushing cannabis oils and extract products. Back in 2016, MedReleaf held 44.5% of all Canadian cannabis oil market share.
Canopy Growth Corp. (NASDAQOTH: TWMJF) is the largest pot stock in the world and should also benefit by incorporating cannabis oil sales. In recently reported third-quarter operating results, Canopy Growth Corp. more than doubled the 116 kilogram-equivalents (262 kilogram-equivalents) of oils sold in the year-ago period.

Are you planning on investing in marijuana? Do you own a business in the cannabis industry? If you need cash to operate your cannabis business or require payment processing services to make secure sales, consider working with Marijuana Merchant Account.

Jeff Sessions War on Marijuana Hasn’t Frightened Cannabis Entrepreneurs

Posted on January 26, 2018 by admin

Cannabis leaf scattered on the dollars. Seamless image

Investors and Business Owners in the Cannabis Industry Aren’t Frightened by Jeff Sessions Efforts to Prevent Marijuana Decriminalization

Contrary to the expectations of many, the Attorney General’s move to recommence unrestrained federal enforcement of cannabis laws hasn’t affected the performance of the marijuana industry so far. Instead, it has inadvertently shown how deep-rooted this industry has become

Jeff Sessions, the man behind all troubles facing potheads and Cannabis entrepreneurs in the U.S recently, announced a deferment of the Obama-regime Cole memo. This memo offered states official pardon from federal intrusion regarding state marijuana laws.

The A.G’s declaration messed up the party for California that was then four days old since she decriminalized of both medical and recreational use on Jan 1, 2018. Sessions, in opposition to all scientific evidence, affirmed that “Cannabis is a harmful drug and… marijuana activity is a federal crime.”

Naturally, the attorney general’s move scared a handful of investors considering the now growing pot industry. But here’s why the remaining majority should put in more resources and finances in the U.S. Marijuana business.

Bipartisan Reaction

Trump’s admin made a lot of debatable decisions in the first year, most times, going unquestioned by congressional Republicans. But this time, Sessions must have rubbed most of them the wrong way— he’s triggered a bipartisan rebuke.

Advocates from all states that have decriminalized weed, particularly Colorado and California have joined forces with Democratic leaders to express their shock at the news. Even some Republican legislators are joining the resistance claiming the A.G’s plan to rescind the Cole Memo directly contradicted his promises when he took the oath of office, and those Trumps made to the people when contesting for the presidency.

Republican Sen. Cory Gardner (Colorado) said that this is not what Donald Trump promised Colorado in 2016 and that the repeal is unlawful. Plus, it puts millions of revenue and very many jobs at risk.

Republican Sen. Dan Sullivan (Alaska) however thought that though the Cole memo suspension is in disagreement with Trump’s statement, it may force Congress to stop ignoring the fact that they need to find a long-standing solution for weed-legal states.

Lack of Financial Backing and incentives to enforce

Sessions repeal of the Cole memo revokes the Department of Justice’s previous regulation on cannabis. In doing so, he pushed federal prosecutors to decide on a legal course of action in marijuana-legal states; and they may as well choose not to nothing.

The Executive Director for the Marijuana Policy Project, Matthew Schweich said that states are no longer willing to help the federal government impose harmful cannabis policies anymore. Most states are now ready to legalize pot for adults.

Legal experts have higher priorities to take care of than handle some new weed cases. Plus, prosecutors have limited resources to press charges against lawfully operating Marijuana companies and consumers.

Medical discoveries and realities

Scientific evidence has proven beyond any doubts the many medicinal uses of marijuana. As a result, we expect this to increase consumer demand for weed products in spite of the ongoing political threats. For instance, Florida is experiencing noteworthy consumer growth since it legalized medical marijuana.

Cannabis Industry Awaits Trump’s Decision on Legal Marijuana

Posted on November 14, 2017 by admin

unnamed It’s safe to say that the legal marijuana industry has faced many and seemingly endless obstacles. With a new administration, legal marijuana merchants have been holding their breath to see whether the Trump administration plans to snuff out the industry. So far, no news seems to be good news.

Following a visit to Las Vegas in March, Brookings Institution’s John Hudak, an expert on marijuana policy, said it was too early to tell what the Trump administration’s next move would be. After a second visit the end of October, Hudak shared that not much has changed in terms of policy coming out of D.C. Even though much is being discussed about marijuana policy, no further actions have been taken to crack down on the industry.

In early September, President Trump agreed to continue the ban on using funds to interfere in states’ legal cannabis practices in his temporary budget-dealing with Democrats. Although, many are waiting to see what the government stance will be in the coming year. This budget agreement involved approving hurricane relief, federal spending and raising the debt ceiling through the end of the year. It also included a Rohrabacher-Blumenauer clause (a.k.a Rohrabacher-Farr), which serves to protect state medical marijuana programs from federal intrusion until Dec. 8, 2017.

According to Forbes, “The clause stipulates that the U.S. Department of Justice may not use any of its funds to prevent states, the District of Columbia, or Puerto Rico from ‘implementing a law that authorizes the use, distribution, possession, or cultivation of medical marijuana.’”

So what forces are giving pause? After all, the attorney general’s most recent comments included increasing enforcement and having the federal government play its more traditional role. However, no action has been taken. The first possible reason why could be new considerations.

In his interview with The Las Vegas Sun, Hudak explained that “when you’re moving from the Senate into running a very large Cabinet department you have new considerations. You have to think about things in new and different ways, and you have a new constituency. So there’s a learning curve.”

The second consideration seems to be resources. With each day that passes, it becomes harder and harder for the Justice Department to shut down recreational marijuana. There are now many legal medical and recreational marijuana companies throughout the U.S., with more joining soon in California, Massachusetts, Maine and Nevada. The industry has simply become too big to close down entirely.

The bottom line? As more time passes and marijuana businesses are left untouched, those in the industry are becoming more and more hopeful. Only time will tell what the outcome will be for the Trump and marijuana situation. Even so, the cannabis industry continues to be difficult for businesses to navigate. One of the largest obstacles continues to be the lack of payment processing services. Still unwilling or unable to take on the risks, traditional lenders stay away. For marijuana merchants seeking a way to safely process credit and debit card transactions, the best place to secure services continues to be through an alternative provider like Marijuana Merchant Account.

Hawaii Announces First Legitimate Banking Solution for Cannabis Industry

Posted on October 3, 2017 by admin

Cannabis leaf scattered on the dollars. Seamless image Banking partners and regulators have joined together to provide statewide access to financial services for the marijuana industry. On Sept. 13, CanPay, the first legitimate debit payment solution for cannabis and Safe Harbor Private Banking, the leading compliant banking program for marijuana merchants. An unprecedented move, this is the first time banking regulators, regulators and cannabis licensees have worked together.

For a previously unbanked legal medical marijuana market, this is a huge improvement. The 29 states and the District of Columbia have encountered endless obstacles in their efforts to secure payment processing and business funding solutions. Banks accounts are so highly regulated on the federal level that most businesses have been forced to operate in cash-only (obviously unsafe and an impractical situation).

Now, those obstacles no longer exist in Hawaii. Through the newly automated Safe Harbor platform and CanPay, merchants and patients can now enjoy greater convenience, transparencies and security. Hawaii’s Commissioner of Financial Institutions, Iris Ikda, the Executive Director HEALTH Kerry Komatsubara were instrumental in this collaboration.

“The arrival of banking and payment services for the cannabis industry in Hawaii will enable dispensaries to reduce or eliminate cash sales, which will help keep these businesses much more secure, said Komatsubara. “The cash-only precedent in this industry is less than ideal for customers, employees, and the general community, so having alternative options available really does change how we do business for the better.”

Even with this step in the right direction, there is still a long way to go before merchants can easily obtain the specialized services they need. Many merchants in other states that have legalized marijuana are still unable to secure merchant services with financial institutions and other traditional Visa and MasterCard payment processors. With strict federal regulations, banks simply won’t touch cannabis businesses. An increasingly popular solution to this ever-growing problem is a marijuana merchant services with an alternative provider – like Marijuana Merchant Account.

Marijuana Merchant Account Full Service Payment Solutions

With Marijuana Merchant Account, cannabis merchants can quickly secure a merchant account and have it setup in a matter of days. Merchants can easily accept all card types (American Express, Visa, Mastercard and Discover) accept checks over the phone via MMA’s e-check processing services and utilize recurring payments for memberships, discounts clubs and more. The straightforward application process can be completed in a matter of minutes.

If your business is struggling to obtain a merchant account or your account has been suddenly closed, consider what a marijuana merchant account can do for you.

Nevada Pushing to be First State to Allow Recreational Marijuana Lounges

Posted on October 3, 2017 by admin

Smoke If all goes as planned, it would appear that Nevada will be the first state to allow recreational users to consume marijuana in clubs and lounges. The beginning of September, the state Legislative Counsel Bureau confirmed that state law does not prohibit city or county governments from operating a lounge in which patrons may use marijuana. The bureau went on to say that cities and counties are allowed to adopt their own rules governing those businesses; they are also allowed to decide whether those businesses are required to obtain special permits.

At present, public smoking is banned under state law in Nevada’s hotels and casino. Nevada is not alone on this. Washington, Colorado, Alaska and Oregon – the four other states where recreational marijuana use is legal – also do not allow public use of marijuana in lounges or other facilities. Recreational use is restricted to private residences.

There are three other states – California, Massachusetts and Maine – that are finalizing rules in advance of legalized marijuana. Despite legalization advocates efforts, none of these states are currently considering legal pot lounges.

Tom Angell, the founder or Marijuana Majority, a pro-legalization group, says, “Allowing regulated social use areas is a good solution that recognizes cannabis consumers’ rights to congregate just like alcohol drinkers can in bars while also protecting nonconsumers’ rights not to inhale secondhand smoke.”

However, there are many legalization skeptics that are still concerned about what marijuana stores and lounges in their community will lead to. Many are worried that it will increase the risk of crime associated with the industry. While these skeptics do not necessarily want marijuana users to go to jail for using, they are not ready for pot clubs to move into their neighborhood.

“Data show that areas around marijuana stores have higher crime and issues with second-hand smoke and other nuisances. I can’t imagine pot clubs will be a good thing for the state,” says Kevin Sabet, who heads the anti-legalization group Smart Approaches to Marijuana.

There are also concerns that the Trump administration may reverse a long-standing Obama administration agreement; this agreement deemphasized prosecutions of marijuana-related businesses in states that have legalized marijuana. Not knowing which direction the Justice Department will decide to go, many are worried about potential legal issues.

Marijuana businesses already struggle to find the services they need to operate safely. If the Justice Department chooses to shift their stance, it will definitely make day-to-day business operations even more difficult. Most banks refuse to work with marijuana merchant, due to the risks of the industry and heavy federal regulation.

The safest options for these merchants are either operating in cash (obviously extremely unsafe, not to mention impractical) or finding an alternative processor like Marijuana Merchant Account (MMA). Depending on the business type, merchants can secure either a recreational or medical marijuana merchant account to sell marijuana in as little as 24 hours.

America’s Youth are Safe, Marijuana Legalization has not Led to Substance Abuse

Posted on September 29, 2017 by admin

Youth With each state that legalizes marijuana use, opponents express their concern that it will lead to a spike in drug abuse and crime. Cannabis activists, on the other hand, continue to proclaim the benefits of legalizing marijuana. So, who is right? Or do both sides have a valid point? Will legalization hurt America’s youth by increasing drug and alcohol abuse in young people?

A new working paper by researchers from the Consumer Financial Protection Bureau, Harvard University and Western California University shed some light on this issue. According to this study, liberalized marijuana laws have little positive or negative impact. The findings of this paper – distributed by the National Bureau of Economic Research – are based on annual surveys of high-school seniors. This ongoing study of American youth began in 1975.

However, other researchers have identified certain facts and statistics that involve both positive and negative effects. Some of the positive effects of more liberal marijuana laws include:

They appear to have reduced the use of cocaine and heroin among teens.
Regulation of marijuana has made drugs (e.g. salvia) and other narcotics appear riskier.
Where marijuana laws were liberalized, teens reported fewer days of illness and less fighting.
Studies have revealed that marijuana and its derivatives (such as the compound cannabidiol) are effective in treating epilepsy, chronic pain and nausea associated with chemotherapy, among other conditions.

Some of the less positive results include:

Marijuana liberalization was correlated with an increase in the ease of procuring psychedelic drugs, and barbiturates.
Looser cannabis laws have been associated with an increase in petty crimes like shoplifting.
Other statistics have shown that marijuana legalization has led to a higher number of traffic fatalities and hospitalizations.

At present, the marijuana industry is stuck in a tug of war. The beginning of September, the U.S. house rules committee blocked an amendment that would protect medical marijuana patients. To complicate matters further for the industry, Attorney General Jeff Sessions has indicated a willingness to go after businesses and individuals involved in the industry – in states where cannabis is legal for medical and/or recreational use.

This month, Sen. Orrin Hatch, R-Utah announced his plans to introduce a bill that would remove barriers that are currently preventing further research on medical marijuana. In addition, a group of senators introduced another bill that would end federal prohibition of medical marijuana.

Amidst this struggle, marijuana merchants are dealing with their own set of obstacles. Under strict federal regulations, merchants are unable to secure processing and funding from banks and other traditional financial institutions. Trying to avoid the danger of operating in cash only, many merchants turn to an alternative provider like Marijuana Merchant Account (MMA). In as little as 24 hours, these business owners can secure the medical marijuana merchant account they need to process debit and credit card transactions, accept e-checks (online and by phone) and obtain business funding.

New Study Says Rise in Marijuana Use is Not the Result of Legalization

Posted on September 29, 2017 by admin

unnamed The use of cannabis in the U.S. has been increasing rapidly over the last decade. However, you might be surprised to hear that it is not because of legalization. A recent study in the journal Addiction confirms that the growing number of state laws and pro-pot policies – that allow legal use of both medical and recreational marijuana – are not the reason behind increased usage.

“Marijuana policy liberalization over the past 20 years has certainly been associated with increased marijuana use; however, policy changes appear to have occurred in response to changing attitudes within states and to have effects on attitudes and behaviors more generally in the U.S,” the report says.

To arrive at this information, researchers from the Public Health Institute Alcohol Research Group analyzed data from National Alcohol Surveys. Following this research, the changes in marijuana use was compared with changes in state laws. Even though 29 states and Washington D.C. have either medical or recreational laws in place, the increases in use were “primarily explained by period effects.” These “period effects” refer to societal factors that affect populations across age and generational groups.

“It only makes sense,” says The New York Times. “Policy changes occur with changing tides, and the societal tide change in how we view marijuana as a culture has become a mainstream phenomenon.”

The findings of this study are being used to support the argument for continued legalization. Many hope that this assessment of the national temperature on the subject will encourage more acceptance and boost the marijuana industry. Operating within this industry is still incredibly challenging for those brave enough to battle the endless obstacles. For example, merchants are still unable to secure the payment processing they need to operate safely (many are forced to operate in cash).

Full Service Payment Solutions for the Cannabis Industry

With Marijuana Merchant Account, cannabis merchants can quickly secure a merchant account and have it setup in a matter of days. MMA boasts a large network of lenders and equity groups, and offers marijuana businesses short term cash advances and capital for expansion. Easily accept all card types (American Express, Visa, Mastercard and Discover) and utilize recurring payments for memberships, discounts clubs and more. You can also accept checks over the phone via MMA’s e-check processing services. The straightforward application process can be completed in a matter of minutes. If your business is struggling to obtain a merchant account or your account has been suddenly closed, consider what a marijuana merchant account can do for you.

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