Medical Marijuana Profits

According to the Marijuana Business daily’s chart of the weekAverage_amount_spent
the average purchase amount at dispensaries ranges from $63 in some markets to more than $100 in Maine.

This varies because of rules, regulations and competition so the prices tend to be higher on the east coast because there are severe limits on the number of dispensaries which means there is little to no competition. As an example, Maine the top of the chart at $100, only has 8 dispensaries with a customer base of 15000 state wide. Whereas states like Colorado aren’t as restrictive, meaning dispensaries are more numerous, generating more competition and lower prices.

Nevada is Still Working Out the Dispensary Bugs

From the Marijuana Business Daily:
Nevada dispensary opening delayed again.

The problem this time around is having a sufficient supply of product.
–The state of Nevada allows dispensaries to buy from individuals, but only allows said individuals to possess 2.5 ounces each. Which means the dispensaries need a huge network of individuals to buy from.

–The gotcha in this case is if home growers sell more than 2.5 ounces to the dispensary, they’d basically be admitting that they’re breaking the possession law. This problem is followed closely by the cost of testing each 2.5 ounce batch for impurities.

We will eventually have a functioning system, but it’s going to take time, money and a lot of patience.

‘Embarrassingly Low’ Patient Count in Illinois

According to the Marijuana Business Daily Illinois is short on MMJ customers:

Illinois has approved just 2,500 patients for MMJ cards since opening the registry nearly nine months ago, which one attorney with ties to the medical marijuana industry called “embarrassingly low.” That’s a far cry from the state’s initial estimate of 75,000 potential patients and much less than many entrepreneurs had expected at this point

Locally, on top of lawsuits, political turf battles and a bunch of idiots making rules on a subject they don’t understand. There seems to be a complete and utter lack of awareness that only about 8,000 Nevadans have medical marijuana cards as of the end of 2014.

Sioux Tribe Votes Legalize Marijuana on the Reservation

According to the Keloland website the Flandreau Santee Sioux Tribe executive committee voted 5-1 Thursday to legalize the growing and use of marijuana on tribal land. Trustee Roxee Johnson was the sole opposition to the ordinance.

The state of South Dakota says it’s still illegal for a non-indian to be under the influence of marijuana. But the tribe says there’s no requirement to be an indian to purchase or use the product on reservation property.

The tribe is working out the myriad details of where it will be grown, where it will be processed, and where the bar? for general consumption will be located.

And so it begins. Reservations will now have something large besides gambling to generate much needed capital.