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New adult-use marijuana markets worth more than $1.5 billion on the ballot

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Adult-use marijuana sales could grow by more than $1.5 billion a year if voters approve new recreational markets on the ballot this Election Day, but observers say that will prove difficult.

At the same time, voters nationwide will decide which party controls Congress and how much political capital those lawmakers might be willing to spend on key reforms that could reshape the nation’s $30 billion-plus marijuana industry. And many key races are projected to be decided by slim margins.

This year’s election looks unlikely to be a repeat of the clean sweep seen in 2020, when voters in all five states where marijuana legalization was on the ballot voted yes.

On Tuesday, the question of adult-use legalization is mainly before voters in traditionally conservative states where polling suggests an uphill climb.

In particular, voters in Arkansas, Maryland, Missouri and North Dakota will vote whether to establish new recreational markets that together could generate nearly $1.7 billion in new sales in their first year, according to MJBizDaily estimates.

By year four, those four markets together could total more than $2.8 billion in adult-use sales.

Voters in South Dakota will be voting on a narrower measure that would permit possession and home cultivation.

With uncertainty in Washington DC swirling, most observers predict a modest victory Tuesday for the legalization movement – and, by extension, the marijuana industry – that will herald more of the same inevitable growth seen over the past half-decade. But there will be no rapid, viral expansion.

“We’ll continue to see the same slow, steady progress towards expansion at the state level,” predicted Marc Hauser, president of Hauser Advisory, a California-based consulting firm. “The industry’s progress is still at the state level, and I think will be that way for some time.”

Billion-dollar baby: Maryland a shoo-in win

Ten years after voters in Colorado and Washington state decisively approved the first adult-use laws in the U.S., 19 states now permit the commercial cultivation and sale of recreational marijuana.

Barring an unforeseen reversal, Maryland is expected to become the 20th state to legalize adult-use cannabis.

Recent polling shows more than 70% of Maryland voters are in favor of a measure that would legalize possession and consumption of cannabis by next July.

“I think Maryland is going to be the one to go forward,” said Mary Pryor, the co-founder of Cannaclusive, which advocates for minority participation in the cannabis industry.

If approved, the ballot measure also would call on Maryland legislators to create a regulatory framework to govern the eventual launch of a commercial market.

Sales would be expected to start in 2024 or 2025 and, according to MJBizDaily estimates, could total $550 million-$600 million in the first year and as much as $1 billion in the fourth.

Maryland’s existing demand and the friendly atmosphere is one reason why Florida-based Trulieve Cannabis, that state’s largest medical marijuana company and a national player, donated $50,000 to the measure.

Chicago-based marijuana multistate operator Green Thumb Industries donated another $25,000.

Difficulties, pro-industry allegations in Arkansas, Missouri

The steep challenges confronting the marijuana industry in the rest of the country is on display in Arkansas and Missouri.

Despite much larger donations from existing MMJ operators, legalization advocates as well as staunch prohibitionists in those states are united in opposing legalization measures that, according to polling, could fail.

According to critics, the way these measures are written to benefit those existing players at the expense of newcomers -including social equity participants – are a major reason support has been elusive.

In Arkansas, supporters of Issue 4 reported raising $13.3 million through Nov. 1 – an astronomical sum that Karen Sebold, a professor of political science at the University of Arkansas, expects to set or come close to a statewide record.

Of that, $7 million came from three donors – all of whom hold one of the eight MMJ cultivation licenses allowed under state law and would be guaranteed by law to supply the lion’s share of the adult-use market.

If Issue 4 does win, adult-use sales could begin at the state’s existing 40 medical marijuana dispensaries as soon as March.

MJBizDaily projects sales would total $350 million-$400 million in the first year and as much as $650 million by year four.

New entrants seeking cultivation licenses would be capped at no more than 250 plants, whereas the eight existing cultivators could grow for the new adult-use market with no plant-count restrictions.

Sales would be subject to a 16% tax, among the lowest in the country.

An October poll showed 50% of voters in support, with 6% undecided, down from 60% in support in September.

Opposition from some legalization advocates who say the measure is a handout to business – including the author of the 2016 MMJ amendment – as well as opposition from prominent elected officials like Gov. Asa Hutchinson and Sen. Tom Cotton, both Republicans, may be playing a role.

Similar dynamics are at play in Missouri, where prominent Black leaders including the state NAACP are opposing another industry-funded measure criticized as too industry-friendly.

And that’s a friendly characterization. An op-ed in a traditional Black newspaper called Amendment 3 “sinister” and “monopolistic.”

Other prominent voices making serious accusations include Secretary of State Jay Ashcroft, who is opposing the measure and recently said that “serious allegations that the people behind this amendment wrote this amendment as a way to enrich themselves” are “credible.”

An unknown number of existing vertically integrated “comprehensive facilities” would be first in line to apply for new “comprehensive permits” that would allow them to sell cannabis medically and recreationally as soon as Dec. 8.

MJBizDaily projects sales would total $500 million to $550 million in the first year and as much as $900 million by year four.

An early allotment of up to 48 new “microbusiness” licenses would be available to equity operators, who would be capped at no more than 250 plants and could wait more than a year for their permits, critics point out.

This is partially why the state Democratic Party also declined to endorse Amendment 3 on the basis that it “may negatively impact” people of color and low-income citizens.

As written, the measure would also make “it difficult for those who do not currently have a license to enter the industry,” according to the party’s endorsements.

Current polling suggests a toss-up, with 48% of voters in favor compared with 35% opposed and 17% undecided, according to a late September poll.

All that adds up to “opposition that’s very concerning” for legalization supporters, Cannaclusive’s Pryor noted.

Prairie home cultivation?

For South Dakota voters, Tuesday’s election is something of a redux: 54% of voters in 2020 approved a measure to permit the commercial cultivation and sale of adult-use marijuana.

But a state-sponsored lawsuit endorsed by Gov. Kristi Noem invalidated that measure.

This time around, Measure 27 would merely allow adults to possess and use cannabis, with the “industry” limited to whatever adults could manage to grow with cultivation limits of no more than three plants allowed at home.

Recent polling from South Dakota State University suggests a toss-up.

Across the border in North Dakota, as much as $285 million in cannabis could be sold annually within four years of voters approving Measure 2.

The ballot item would allow adults to possess up to an ounce of marijuana, allow three plants to be grown at home and leave regulating an industry, including details such as taxation, up to the state Legislature.

Despite the deliberately “conservative” and industry-neutral drafting of the measure, the state’s law enforcement and business lobbies are both opposed to Measure 2.

Source: https://mjbizdaily.com/new-adult-use-marijuana-markets-worth-more-than-1-5-billion-on-ballot/

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Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light

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Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).

The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.

India’s Indigenous LEO Satellite Vision

Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.

The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.

According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.

The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.

Regulatory Process Moves Forward

Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.

The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.

Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.

Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.

Broadband, Mobile Connectivity, and Strategic Applications

Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.

The company also intends to establish 20 to 22 ground stations across India to support network operations.

Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.

Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.

Major Step for India’s Space and Telecom Sectors

Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.

The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.

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Alleged Crores Pharma Scam Mastermind Arrested from Surat

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After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.

Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.

Fake Business Deals and Dishonoured Cheques Used in Fraud

Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.

In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”

Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.

Multiple Identities and Repeated Fraud Pattern

Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.

Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.

Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.

Multi-State Surveillance Leads to Arrest in Surat

A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.

Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.

Growing Threat of Corporate Identity Fraud

The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.

Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.

Experts Urge Stronger Due Diligence in High-Value Transactions

Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.

Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.

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EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices

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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.

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