Business
Auctioning Off Cannabis Licenses? – How Does It Work, When is the Auction, and How Much are Licenses?
Can you bid on a cannabis license at an auction?
Cannabis License Auction, FL. Feb. 23-24 – The Cannabis10x License Auction-Style Event Features License Holders, Buyers and Investors Jockeying for Positions in Coveted States Such as FL, NY and More.
[mention Cannabis.net when you sign up for a free access to the Cannabis10x Network membership]
Cannabis10x is hosting a live and virtual Cannabis License Auction-Style Event February 23-24 in beautiful Sand Key, FL. In attendance will be a varied group, ranging from multi-state operators seeking first-in, strategic locations in limited license states (Florida, New York) to investors and single-state operators seeking Joint Ventures for the purposes of crossing state lines. From the most established states to those that recently opened that are limiting licensing, these attendees are a very effective group. License valuations range from $45 million to $2,500.
The following is an interview with co-founders of Cannabis10x, Jason Tropf and Holly Ford.
Cannabis.net:
Folks I am doing this personally today because I think you’re gonna’ love what you’re about to hear! I am talking today to the team who founded Cannabis Franchising! They then made a splash with their Cannabis Shark Tanks with great stars like Cheech Marin, Bruce Linton, and yours truly! (Laughter) and now they’re at it again doing something no one has ever done before… A Cannabis License Auction! Holly Ford and Jason Tropf welcome!
Jason Tropf (Cannabis10X)
Hi Curt. Nice to see you again… Happy to be here!
Cannabis.net:
So, what the heck is a Cannabis License Auction!
Holly Ford (Cannabis10X)
It is definitely going to be intriguing! Sellers and bidders come together in person (or virtually) to buy and sell. Sellers set a minimum bid and bidders deposit 10% until the state approves the transfer…. There will be a LOT of networking and quite a few strategic partnerships formed.
Cannabis.net:
How does this work… can anyone buy a cannabis license in the auction?
Jason Tropf (Cannabis10x):
Yes, they need to be 21…. But I’d like to emphasize to buyers: ‘Do your due diligence to make sure you meet the regulation requirements for the state in which you intend to buy’. All sales are contingent on state approval. Some states require state residency, some favor social equity only in the early phases, while others welcome everyone. (Bidders can sign up here: Register to Bid.)
Cannabis.net:
Who can sell a cannabis license in the auction?
Holly Ford (Cannabis10x):
Any owner of a cannabis license can sell their license in the auction. They just need to register as a seller. (The direct owner of the license must register as the seller on the website which can be done here: Register to Sell.)
Some sellers have requested we work with them outside of the auction. Cannabis10X can take those sellers on as clients. Clients can list as many licenses as they want and get the status as a Featured Seller as well.
Cannabis.net:
That’s great! What does a Featured Seller get? Anything special?
Holly Ford (Cannabis10X)
Featured Sellers can list an unlimited number of licenses. Most importantly, they have 5 minutes to directly pitch their license on the auction podium (or have the hosts pitch their license to the audience for them.) They also get increased exposure including on the main auction website, a featured listing on all auction itineraries, a listing on the front page of all of the bidder packages, they are listed in all press releases and marketing material… The increased exposure typically generates more investor introductions.
Cannabis.net:
OK, best guesses here… how much do you think buyers will pay for a license?
Holly Ford (Cannabis10X)
Historically licenses have sold for as low as $2,500 dollars and up to $70 million! Prices will vary by location and license type and valuations have a large degree of variance. Regardless, sellers have autonomy here. They set their own minimum bids, but all transactions are subject to seller approval so they may approve bids as low as they feel necessary to close the sale. A refundable 10% deposit is held in escrow on the day the bid is accepted. All of the Terms are listed on the registration page.
Cannabis.net:
Sounds perfect! Tell me more about the valuations.
Jason Tropf (Cannabis10X)
Some state regulations are much different than others which has a great deal to do with valuations. If competition is throttled by regulations, revenue is much greater per operator, making license values much greater. For example, certain states offer retail licenses that allow for a single retail location per license and that license type might be valued between $2,500 – $50k. In other states, a single license includes and allows for vertical integration: cultivation, manufacturing, and an unlimited number of retail locations under a single license. These types of licenses are valued in the range of multiple $10’s of millions.
Cannabis.net:
A lot of different licenses out there! What kind of license can people buy?
Jason Tropf (Cannabis10X)
License holders from across the entire supply chain are selling licenses. This includes cultivation, processing/manufacturing, retail and delivery/distribution. In some instances, the entire vertically integrated operation is included under one license. In states such as Florida, for example, unlimited retail outlets are allowed under a single license. Again, make sure you are educated in the states licensing requirements prior to bidding.
Cannabis.net:
Do you offer any help for due diligence prior to the auction?
Jason Tropf (Cannabis10X)
Participants can contact Cannabis10X or our auction’s prime sponsor; cannabis attorney and political candidate, Michael Minardi.
Cannabis.net:
What states can people buy licenses?
Holly Ford (Cannabis10x):
Participants can buy licenses in any legal state in the US that allows licensed cannabis businesses to operate, subject to state approval of the transfer of license. This includes some of the more coveted states like Florida and New York as well as established markets like Colorado and Oregon. Specific licenses are frequently being updated and can be found on the event site. We expect more than 100 licenses. (Cannabis10x.com License Auction event page )
Cannabis.net:
What happens if the cannabis license does not sell at the auction?
Jason Tropf (Cannabis10X)
Sellers have the option to become clients of Cannabis10X where we will continue to work with the license owner through our Mergers & Acquisitions division to locate a buyer or strategic partner.
Cannabis.net:
OK, now for the fun stuff… who is coming besides yours truly?
Holly Ford (Cannabis10X)
License owners, investors, acquisition teams, franchisors, multi-state operators, joint venture partners and single operators both domestically and internationally. We will be featuring international licenses as well which will attract a more global crowd.
Cannabis.net:
What kind of investors and acquisition teams are you referring to?
Jason Tropf:
Already in the 10X Network are a wide variety of investors and acquisition teams. This includes the Cannabis10x family of franchise brands (Cannabis10x Family of Franchise Brands). Investors range from wealthy individual accredited investors to family offices and franchise portfolio builders. Fund managers that manage funds between $10 million – $100 million and franchise portfolio owners that own anywhere from 200 – 2,000 franchise units. Also included are main street investors that expect to spend between $250k – $2 million as well as smaller investors who expect to spend $2,500 – $50,000.
Cannabis.net:
So, is this an all-business and networking event? Any fun planned for live attendees?
Holly Ford:
Yes! That’s why we added the live venue in Sand Key, Florida! Thursday evening will be drinks and swag bags, meet and greet, networking and a great speaker. Friday morning networking again followed by the auction. Many will be staying the entire weekend to continue forging strategic partnerships.
Cannabis.net:
How can a business get involved or gain exposure to your audience?
Jason Tropf:
Sponsor! Our legacy sponsor is taken, but we still have room for strong businesses on the bill. Sponsors even have an option that will allow them to speak to the entire live and virtual audience! Besides the obvious banners and promotional materials, sponsors will gain recognition on the Cannabis10x.com website for up to 12 months after the event and get free tickets to the main event. And much more! (Sponsors can learn more here: Sponsor Program)
Brief Description:
Cannabis10x.com:
Cannabis10x License Auction
Marriott Hotel, Sand Key, FL
Date: Feb 23-24, 2023
12:00pm EST
Virtual & Live Attendance
Video: https://youtu.be/gLFJrIxMGp0
More Information: https://members.cannabis10x.com/auction-event1668458277085
• ALL States
• Expecting 100+ Licenses
• Live & Virtual
•Joint Ventures
• Outright Sales
• Limited License States
• FL, NY, MI, CT, MO & More…
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
AI & Technology
Amazon Faces Potential Criminal Trial in Italy Over €1.2 Billion Tax Evasion Allegations
Milan: U.S. tech giant Amazon is facing the prospect of a major legal showdown in Italy, after prosecutors in Milan formally requested a court to move forward with criminal proceedings over alleged tax evasion totaling approximately ₹12,500 crore (€1.2 billion).
The case targets Amazon’s European division along with four senior executives, marking one of the most significant tax-related investigations involving a global e-commerce platform in Europe.
Trial Push Despite Multi-Million Euro Settlement
The move comes even after Amazon reached a financial settlement with Italian tax authorities in December, agreeing to pay around ₹5,500 crore (€527 million), including interest, to resolve part of the dispute.
Typically, such settlements lead to the closure of criminal investigations. However, Milan prosecutors have opted to proceed, signaling a tougher stance on alleged corporate tax violations.
A preliminary hearing is expected in the coming months, where a judge will decide whether to formally indict the company and its executives or dismiss the case.
Allegations of VAT Evasion Through Marketplace Sellers
At the center of the investigation are claims that Amazon’s platform enabled non-European Union sellers to avoid paying value-added tax (VAT) on goods sold to Italian consumers between 2019 and 2021.
Prosecutors allege that the company’s marketplace structure allowed thousands of foreign vendors—many reportedly based in China—to operate without fully disclosing their identities or tax obligations. This, authorities argue, led to substantial VAT losses for the Italian government.
Under Italian law, online platforms facilitating sales can be held partially liable if third-party sellers fail to comply with tax requirements, a key point in the prosecution’s case.
Italian Government Named as Affected Party
In their filing, prosecutors identified Italy’s Economy Ministry as the injured party, citing significant financial damage resulting from the alleged tax evasion.
Legal experts say the outcome of the case could have wide-ranging implications across the European Union, where VAT systems are harmonized and similar compliance rules apply to digital marketplaces.
Multiple Investigations Add to Pressure
The VAT probe is just one of several legal challenges facing Amazon in Italy. The European Public Prosecutor’s Office is reportedly examining additional tax-related issues covering more recent years.
Meanwhile, Milan authorities are pursuing separate investigations into alleged customs fraud linked to imports from China and whether Amazon maintained an undeclared “permanent establishment” in Italy—potentially exposing it to higher tax liabilities.
In a separate regulatory action, Italy’s data protection authority recently ordered an Amazon unit to stop using personal data from over 1,800 employees at a warehouse near Rome.
Amazon Denies Allegations
Amazon has consistently denied wrongdoing and indicated it will strongly contest the allegations in court if the case proceeds. The company has also warned that prolonged legal uncertainty could impact investor confidence and Italy’s appeal as a destination for international business.
Broader Impact on Europe’s Digital Economy
If the case moves to trial, it could become a landmark moment for the regulation of global e-commerce platforms in Europe. Governments across the region are increasingly scrutinizing how digital marketplaces handle tax compliance, especially in cross-border transactions.
With online retail continuing to expand, regulators are under mounting pressure to ensure that multinational platforms and third-party sellers adhere to the same tax rules as traditional businesses.
Aviation
IndiGo Crisis Exposes Risks of Monopoly: What If Telecom or E-commerce Collapses Next?
Airports across India witnessed scenes of distress and confusion as thousands of passengers were stranded due to IndiGo’s massive flight disruptions. Families with medical emergencies, funerals, and personal crises were left helpless as the airline cancelled hundreds of flights without adequate communication or support.
Passengers described desperate situations — a mother pleading for sanitary pads for her daughter, a woman unable to transport her husband’s coffin, and others stranded while trying to reach family funerals or hospitals. “It was like a lockdown at the airport,” one passenger said, describing the panic that unfolded as IndiGo’s mismanagement crippled operations nationwide.
Root Cause: IndiGo’s Market Monopoly
The turmoil, industry experts argue, stems from IndiGo’s monopolistic control over India’s domestic aviation market. The airline operates nearly 2,100 flights daily and holds around 60% market share — meaning every second plane flying within India belongs to IndiGo.
This dominance has given the company unparalleled influence. When IndiGo falters, the entire aviation system suffers. Passengers are left with few alternatives, as other airlines lack capacity to absorb stranded travellers. The result: skyrocketing ticket prices, chaos at terminals, and total dependence on a single private operator.
Aviation pioneer Captain G.R. Gopinath, founder of Air Deccan, criticised the government’s inaction, noting that on some routes, IndiGo’s economy fares surged to ₹1 lakh. He compared the situation to a hostage crisis, writing that the airline “held the system ransom” and forced regulators to defer new safety rules meant to protect pilots and passengers.
Government Intervention and Regulatory Weakness
The crisis erupted after IndiGo failed to comply with the Flight Duty Time Limitations (FDTL) — rules introduced by the DGCA in January 2024 requiring adequate rest for pilots. Despite having nearly two years to adapt, IndiGo blamed the rule for operational disruptions, citing a shortage of pilots.
Under mounting public pressure, the government stepped in, temporarily relaxing FDTL norms and capping airfare hikes. Officials claimed the move was to protect passengers, but analysts say it exposed the state’s vulnerability to corporate monopolies. “The government had no option but to yield,” said one aviation policy expert, pointing out that ignoring safety regulations for short-term relief could have long-term consequences.
The crisis also rekindled memories of the June 2025 Air India crash near London, which claimed over 240 lives. Experts warn that compromising pilot rest and safety standards to maintain flight schedules could risk another tragedy.
If Telecom Giants Fail: A National Paralysis
The article raises a troubling question — what if a similar crisis struck the telecom sector, where Jio and Airtel together control nearly 80% of subscribers and serve over 780 million users?
If both networks failed simultaneously, the repercussions would be catastrophic. Internet shutdowns would halt UPI transactions, online banking, OTP verifications, video calls, OTT streaming, and emergency communications. Critical services such as airports, hospitals, stock exchanges, and small businesses — many of which rely on WhatsApp and digital payments — would come to a standstill.
In essence, a telecom breakdown could paralyse India’s digital economy, exposing the nation’s dependence on a duopoly.
E-commerce Monopoly: Another Fragile Ecosystem
The same risk looms over the e-commerce sector, where Amazon and Flipkart dominate nearly 80% of the market. A disruption similar to IndiGo’s could cripple daily life — halting delivery of groceries, medicines, and essential goods, freezing refunds and customer support, and leaving small sellers without platforms to trade.
Local retailers, freed from competition, might exploit shortages by inflating prices. Such a scenario underscores the perils of market centralisation in sectors critical to everyday living.
A Wake-Up Call for Regulators
The IndiGo crisis, analysts say, is a warning shot for policymakers and regulators. A single company’s operational failure exposed systemic weaknesses in India’s infrastructure and consumer protection mechanisms.
As the aviation regulator DGCA investigates and IndiGo works to restore normalcy, the broader lesson remains clear: unchecked monopoly power in any essential service — whether air travel, telecom, or e-commerce — poses a direct threat to economic stability and citizen welfare.
Without stronger competition laws, redundancy frameworks, and regulatory oversight, India risks repeating this crisis across multiple sectors — each time with millions of citizens paying the price.
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