One tech giant’s powerful policy change puts legal cannabis in the palm of your hand, Arizona’s cannabis market surges, and more NICI Snippets headlines…
The cannabis industry has been teeming with crucial developments over the last few weeks, and that means it’s time for another round of NICI Snippets to get you caught up on everything you need to know.
First up, a tech giant made a quiet but momentous change to its policy on in-app purchases that could change everything – not just for cannabis retailers but for the entire United States cannabis industry.
Plus, cannabis reform efforts are gaining traction in the South, and one of the key states to join the recreational cannabis club during the 2020 election is already barreling toward a $1 billion cannabis market in its first year of sales.
NICI Snippets: Week of August 5, 2021
- Apple Is Now Allowing in-App Purchases for Cannabis Retailers: Apple recently changed its App Store policy to allow for in-app cannabis purchases and delivery, making it easier for customers to buy cannabis than ever before. California cannabis titan TPCO Holding Corp. (OTC: GRAMF) immediately jumped at the chance to launch its own cannabis shopping app, Caliva, wasting no time to take full advantage of Apple’s policy change. This announcement has major implications for the future of the industry. In 2019 alone, the Apple App Store facilitated $519 billion in global sales, and an incredible 64% of American households have at least one Apple device. Considering app-based companies like Uber have already said they will pursue cannabis delivery once federal reform is passed, this announcement from one of the biggest tech companies on the planet is another mighty step forward for the industry. But there’s much more to this story that you can check out right here.
- Arizona Recreational Cannabis Sales on Track to Hit $1 Billion in Their First Year: Voters in Arizona, New Jersey, South Dakota, and Montana made history during the 2020 election when they voted “yes” to recreational cannabis legalization in their states. And so far, it’s Arizona that’s off to the races, with new figures showing that its newly combined cannabis market is on pace to do $1 billion in sales in its first year. That’s impressive, to say the least. And as cannabis sales continue to heat up, you can cash in on its biggest leaders for your own profits. You just have to know where to put your money for the biggest potential returns. I’ll show you two ways to play the Arizona market right here.
- New Study Finds Legalizing Cannabis Increases Home Property Value: Yes, you read that right – a new study from Clever Real Estate recently found that when states legalize cannabis, they increase residents’ property value due to the extra tax revenue garnered by cannabis sales. Researchers drew on data from Zillow and the U.S. Census to determine that for every $1 million a state makes in cannabis tax revenue, home values increase by $470. Additionally, they found that in cities with recreational cannabis dispensaries, home values increased $22,090 more. Part of the reason for this increase is that legalizing cannabis means tax revenue, and tax revenue means investment in key infrastructure projects, like public schools, law enforcement, and treatment programs. If that’s not an incentive to support legalizing cannabis, then I don’t know what is.
- Louisiana Becomes Third Southern State to Decriminalize Cannabis: It’s no secret that the South lags behind the rest of the country when it comes to cannabis reform. But Louisiana just took a big step toward ending that trend when it became the third Southern state (after North Carolina and Mississippi) to decriminalize personal use amounts of cannabis possession. This news comes on the tail of Louisiana Gov. John Bel Edwards signing off on a separate law back in June that permits cannabis patients to smoke whole cannabis flower, expanding the state’s existing medical cannabis industry significantly. It also follows Alabama‘s move to legalize medical cannabis in May. Both updates to Louisiana law put more pressure on its neighbors to follow suit, all while showing the rest of the world that, yes – cannabis reform is inevitable. Even in the South.
To your investing success,
Partner, RADD Capital
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August 05 2021