A measure is passing through the state legislature.

The economy of California - poised to create a market for legal marijuana - could see its economy boosted by as much as $5bn, according to a new study.

The report by the University of California Agricultural Issues Centre, says that the legalisation of the drug will provide the state a further reason for tourists - or at least some tourists - to visit.

A cannabis company believes the pot industry could save tribal nations from poverty. But many argue it would only make a drug problem worse.

“You going to Gathering this year?”

Most Native people have heard this question. Short for the Gathering of Nations, the “Gathering” is the largest powwow in North America—one of few pan-Indian cultural fixtures shared by nearly every indigenous group on the continent. Thousands of people from hundreds of tribal nations show up in Albuquerque each year to experience it.

Aurora Cannabis Inc. (TSXV:ACB) has just announced another possible acquisition, and this time the vicious and highly aggressive marijuana underdog is snatching a 19.9% stake in one of the world’s largest industrial hemp producers, Hempco Food and Fiber Inc. (TSXV:HEMP), and could potentially  increase its stake to 50.1% of the target on a fully diluted basis.

Eager to get in on what’s expected to be a booming industry, cannabis companies and investors are beginning to flock to New York state. It’s a trend that could pick up even more steam after lawmakers in Albany gathered Monday to announce a renewed push to legalize adult-use cannabis.

State Sen. Liz Krueger (D-New York) and Rep. Crystal Peoples-Stokes (D-Buffalo), along with advocates organized by the Drug Policy Alliance, held a press conference about the reintroduction of the Marijuana Regulation and Taxation Act (MRTA). The legislation, S.3040/A.3506, would tax and regulate cannabis in a fashion similar to alcohol.

Meet GW Pharmaceuticals, the British drug company whose CBD-based medication for seizures just passed phase III clinical trials and may be the first tried-and-true prescription cannabis drug.

Can marijuana be made into a tried-and-true prescription medication, one that could be covered by health insurance? According to results from a recent study published in The New England Journal of Medicine, yes, it most certainly can.

Driven by concerns over marijuana marketing to teens, state lawmakers are weighing strict rules for recreational pot advertising but entrepreneurs seeking to take advantage of legal weed say that would block them from selling their products.

A voter-approved law allows adults 21 and older to possess up to an ounce of marijuana in public and up to 10 ounces at home, and to grow up to a dozen plants on their property. Retail pot shops are expected to open sometime next year.

On Beacon Hill, legislative leaders are working on a raft of regulations for pot sales and use, which they say are aimed at keeping the drug out of the hands of underage users.

Although the biotech sector of the cannabis industry offers investors great opportunity and is comprised of some of the most mature public companies, we expect it to remain under pressure following the Nasdaq’s plunge on Friday.

On Friday, the Nasdaq hit a record high before it ended the day down 1.8% and the tech sector is poised to tumble even further today.

Goldman Sachs Issues Valuation Warning

Medical marijuana dispensaries and growing farms could begin popping up along Missouri's southern border.

Officials with the Arkansas Medical Marijuana Commission last week finalized details and applications for prospective growers and vendors will become available to the public on June 20.

Under Arkansas law, there can be five cultivation sites statewide; for dispensaries, the state is divided into eight zones that each can have at least four dispensaries, for a total of 32 statewide.

Northwest Arkansas — Benton, Washington, Carroll and Madison counties — is defined as one zone.

Each of those four counties voted to approve medical marijuana in November, as did the state overall, by a vote of 53 percent to 46 percent.

A lot of progress is being made on understanding how marijuana's chemical cannabinoids can be used as medicine, and among the most intriguing of these cannabinoids is cannabidiol, or CBD. It's one of at least 113 active cannabinoids found in marijuana, it's not responsible for marijuana's "high," and it accounts for roughly 40% of the marijuana plant's extract.

At the forefront of research into CBD's use as medicine is GW Pharmaceuticals (NASDAQ:GWPH), a U.K. drug developer that already markets a tetrahydrocannabinol (THC)-derived drug in Europe for the treatment of muscle spasms in multiple sclerosis patients.

The provincial government is seeking public input on new marijuana legislation set to come into effect in little over a year.

Justice Minister Andrew Parsons says government has launched a website to allow people to have their say on what they’d like to see.

He says questions include age restrictions, where it should be sold, and what other restrictions are necessary once the use of marijuana is legalized.

What Parsons calls “targeted stakeholders” will be separately surveyed.

They will include the medical community and business interests. He uses the age restrictions as an example, whereby they weigh what the public thinks is a good age, against medical evidence.

The online survey, which will be open until June 30.