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Alaska's first marijuana retailer opens to throngs of customers

They weren't giving away marijuana, but that didn't stop dozens from lining up hours in advance for the opening of Alaska's first pot shop on Saturday. Residents of Valdez are calling their community "the highest little town at sea level," KTVA reported. People in Alaska see the opening of Herbal Outfitters as a historic event in their state. Mike Holcombe was chosen to be the first inside the shop, and called the moment "monumental." "I didn't think it would happen in my lifetime that it would be legalized," Holcombe said of his opportunity to purchase marijuana legally. "I've been waiting 46 years for pot to be legal." It was worth the wait, said those who braved the chill and drizzling ra

Florida ballots missing medical-marijuana question

The Broward County elections office, already under scrutiny for two blunders in the past few weeks, played defense once more Friday as its supervisor came under fire after mail-in ballots turned up that skipped a constitutional amendment question on medical marijuana. One of the organizations supporting the amendment, NORML of Florida, has asked for an emergency hearing after filing a lawsuit on what it called an error that could be “catastrophic and cataclysmic.” A Broward judge has scheduled a hearing for 10 a.m. Tuesday. At a press conference Friday afternoon, Broward elections supervisor Brenda Snipes said her office had reviewed 92 different styles of ballots — voters get different ball

Colorado: Marijuana Industry Smokes Competition in Total Revenue

Smoking their 2014 marijuana sales by an elevated 42.4%, the roots of Colorado’s fast-growing legal marijuana industry cultivated $2.39 billion during 2015, according to a new report published by the Marijuana Policy Group. Now raking in more taxable green than Colorado’s performing arts and sports venues combined ($777.3 million), the legal marijuana industry is already generating higher revenues than many of the more familiar business sectors in Colorado. Bigger than gold mining in 2014 and projected to blaze past cigarette sales by 2020, Colorado collectively cultivated, extracted, produced, and baked approximately 132 metric tons of state-sanctioned marijuana in 2015; according to MPG’s

Marijuana market to reach $50 billion

Not one to ever miss out on a growth opportunity, Wall Street is increasingly advising clients to invest in the booming legalized marijuana market. Last month, JPMorgan told investors to buy fertilizer maker Scotts Miracle-Gro because of it. Now comes a 110-page opus from the research team at investment bank Cowen called "The Cannabis Compendium: Cross-Sector Views on a Budding Industry" which contains a list of the firm's favorite stock ideas from across the many industries that could stand to benefit from increased legal pot use and production. "Cannabis prohibition has been in place for 80+ years, but the tides are clearly turning. Potential product applications range from recreational, t

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