Crowds at Entrance, CWCBExpo NY 2023

Law Enforcement Groups Push for Rescheduling & More

Each month, Cannabis World Congress & Business Exposition (CWCBExpo) offers a convenient roundup of the biggest cannabis news stories and hemp headlines emerging across the nation. Get these updates in your inbox by subscribing to our email newsletter, or follow us on Instagram, LinkedIn, Facebook, or Twitter (now X) to get the most recent edition when it’s published.

 

February held some big headlines for the cannabis industry, including groundbreaking research into cannabinoids and terpenes, Vice President Kamala Harris meeting with pardon recipients, and law enforcement leaders advocating for cannabis rescheduling. Join us as we dive into the latest cannabis news nationwide and how it’s impacting the industry and consumers everywhere.

 

Law enforcement group pushes for cannabis rescheduling

 

A coalition of police chiefs and prosecutors, represented by the Law Enforcement Leaders to Reduce Crime & Incarceration (LEL), has called upon the Biden administration to reclassify cannabis under federal law. Led by prominent figures such as U.S. Drug Enforcement Administrator (DEA) Anne Milgram, the organization advocates for rescheduling cannabis to Schedule III. 

 

In a letter addressed to the administration, the coalition underscored the benefits of rescheduling, including the prioritization of limited public safety resources. “We believe that reclassification under schedule III would be an important step to help both federal and state law enforcement better prioritize limited public safety resources,” the LEL wrote in the letter. “Moreover, rescheduling would also allow legal markets to compete on a level playing field, potentially leading to greater reinvestments in critical programs that can bolster public safety.” 

  

The call from LEL comes as the DEA is mulling a proposal from the U.S. Department of Health and Human Services to reschedule cannabis as a Schedule III controlled substance. Rescheduling cannabis to Schedule III would represent a landmark step towards comprehensive federal cannabis reform. 

 

The letter from LEL is the latest in mounting pressure for regulators to consider cannabis reform. Last month, Congressional Democrats sent a letter to the DEA requesting cannabis be descheduled entirely, eliminating its status as a controlled substance altogether.

 

New study assesses cannabis compounds and the entourage effects

 

A recent study published in the journal Molecules delved into the intricate interactions between cannabinoids, terpenes, and other chemical compounds found in cannabis, shedding light on the so-called “entourage effect”, which describes the collaborative dynamics of these components and their combined effects. 

 

The study, published in January 2024, confirmed the concept of the entourage effect, which has often been controversial among researchers. The study emphasized that it’s not merely THC and CBD, but the complex interplay of molecules, that shape our individual cannabis experience. 

 

“In cannabis science, cannabinoids, terpenes, and flavonoids have often been overlooked, with much of the literature focusing predominantly on the major cannabinoids THC and CBD,” reports the team behind the new study. “However, emerging evidence suggests that these constituents, particularly cannabinoids and terpenes, play a substantial role in interacting and collaborating. This interplay gives rise to the diverse effects, benefits, and side effects observed among different cannabis strains, which can vary in the ratios of these components.”

 

The research represents a step forward in our understanding of cannabis and how it works. While much research is still needed, advancing our understanding of the entourage effect brings us a step closer to maximizing the therapeutic potential of the plant.

 

Kamala Harris reaches out to cannabis pardon recipients 

 

Vice President Kamala Harris’s office has been actively engaging with those who have received pardons for cannabis possession under President Biden’s clemency proclamations, aiming to ensure a smooth process and broader discussion into cannabis policy reform. 

 

Chris Goldstein, a prominent activist recently pardoned for a 2014 possession case, revealed that the vice president’s office contacted him and subsequently met with three staffers to discuss his certification experience, as well as cannabis reform proposals such as descheduling and expungement. 

 

Goldstein commended the office for their attentiveness and keen interest in understanding the nuances of cannabis policy reform. He raised the point that the pardons people received over possession did not clear their records, which still need to be expunged. He also noted that the office “absolutely heard that” and understood the “nuance” of the policy issue.

 

“I want to give them credit for this, because they were reaching out to pretty much anybody who they could who had gotten a pardon recently through the Department of Justice and trying to communicate with people about the pardons and make sure the process was going well,” he told Marijuana Moment. “It seemed like they were really invested in making sure that people had an easy process in getting the pardons and that it was easy to apply, it was a short waiting period, all those things.”

 

Poll find 17% of American adults consume cannabis 

 

According to a new Gallup poll, approximately 17% of American adults reported consuming cannabis, remaining relatively stable compared to the previous year’s 16% but significantly increased from just 11% in 2015.

 

“Age is a significant driver of the likelihood of smoking marijuana. About a quarter of young adults, those aged 18 to 34, say they smoke marijuana (26%), but reported use falls to 18% among adults aged 35 to 54 and is even lower, 11%, among adults aged 55 and older,” reads the Gallup analysis. 

 

Other standouts from the responses included:

  • Men (19%) are more likely than women (14%) to consume cannabis.
  • College graduates (9%) are about half as likely as those without a college degree (21%) to consume cannabis.
  • Democrats (22%) are more likely than Republicans (12%) to report consuming cannabis, with independents’ (17%) falling between them.

Exploring the future of cannabis with CWCBExpo 

 

As we wrap up February, one thing is clear: the future of cannabis is dynamic and full of promise. Looking ahead, we remain committed to collaboration, innovation, and advocacy as we shape a bright future for the cannabis industry. Stay up to date with our monthly news updates, or join us in person at CWCBExpo this June to network with industry leaders and learn from cannabis experts. 

Four CWCBExpo board members and strategic advisors are pictured. From left to right, Renata Serban, Leo Bridgewater, Kym B, and Dr. Ken Weinberg

CWCBExpo Experts Weigh In: What Will 2024 Bring for Cannabis?

Four CWCBExpo board members and strategic advisors are pictured. From left to right, Renata Serban, Leo Bridgewater, Kym B, and Dr. Ken Weinberg

Every year seems to be a transformative year in the cannabis industry — and for good reason. What other industries can say they’re at the forefront of a movement? Innovation, the legal landscape, and evolving social attitudes continue to shape what’s to come for cannabis.

At CWCBExpo, we’re taking a moment to reflect on the milestones, challenges, and remarkable shifts that shaped the past year while extending our gaze to what may lie ahead for the new year.

New York

In the Empire State, adult-use cannabis celebrated its first full year in operation. The first dispensary in New York City opened at the tail end of 2022, and several more throughout the city and the state joined its ranks throughout 2023.

Although court challenges and bureaucratic roadblocks have caused the New York market to roll out slowly, hundreds of dispensaries are expected to be approved in 2024. The Office of Cannabis Management (OCM) recently accepted license applications from all aspiring cannabis sellers, and officials say the general adult-use licenses will be issued using a lottery system and approved in batches during the first quarter of 2024 on a rolling basis.

According to Kym B., Co-founder and Chief Marketing Officer at TribeTokes, New York is poised for a significant, and exciting, shift.

“I think we’re going to go from being a startup in New York to starting to actually be revenue positive,” she explained. “A lot of dispensaries opening, coupled with more licenses being given out, will help a ton. With this in place, we can actually create an industry in New York where cannabis is truly competitive.”

A few new states joined New York in the adult-use legalization movement in 2023, including Delaware, Minnesota, and Ohio. Others, like Connecticut, Missouri, and Maryland, realized their first recreational sales. This means that now, more than half of the U.S. population resides in areas where cannabis is legal for recreational use. Notable is the recent Annual Report previewed at a December meeting by the New York State Office of Cannabis Management where they reported that marijuana revenue sales in NYS was expected to reach $150MM by the end of 2023.

All eyes on the election and how it shapes cannabis policy

Discussion of federal legalization, descheduling, and rescheduling bounces throughout Capitol Hill every year, and 2023 was no different. But what did come to fruition this year was a recommendation from the U.S. Department of Health and Human Services to reschedule cannabis on a federal level. If progress continues on this forefront, 2024 could bring the most significant shift in national cannabis policy since the passage of the Controlled Substances Act in 1970. This change would give the FDA industry oversight and cut down the 280E tax code that currently plagues the industry.

As we look ahead to 2024, other potential shifts in legislation include:

As an election year, cannabis takes an even more significant national stage this year. Leo M. Bridgewater, the National Director of Veteran Outreach for Minorities of Medical Marijuana, emphasized the importance of aligning political engagement with business strategies in 2024. And that’s not limited to Washington, D.C. — that involves engaging elected officials right here at home.

“Local mayor and city council seats will be up for grabs in 2024,” he noted. “A deeper understanding of the difference between legislation and regulation will also be paramount as policy will be developed by the understanding and education of local politicians. The cannabis vote must be made real and respected if we are going to prosper in the years to come.”

Support for small business will be essential for a thriving industry

Citrin Cooperman Cannabis Advisory Services manager Renata Serban conveyed the need for education for operators.

“[The] cannabis industry is one of the most regulated in the country and unique in the fact that it is illegal at the federal level and legal at the state level,” Serban explained. “Even experienced business owners entering the cannabis space face many challenges associated with high compliance.”

Serban credited the Cannabis Compliance Training and Mentorship Program in New York City as a great place for entrepreneurs to begin their journeys. “I think the state needs to continue similar initiatives and provide resources to small businesses,” she added.

A focus on patients in an increasingly-recreational landscape

Kenneth R. Weinberg, founder of Cannabis Doctors of NY, shed light on patient needs within a landscape that puts a lot of focus on recreational sales. A fierce patient advocate, Weinberg expressed a hopeful expectation that the broader market dynamics will bring about positive changes for patients, even as those dynamics are heavily influenced by the recreational market.

One such way is in price: As more dispensaries open, the price of flower and manufactured products is likely to come down. In fact, we’re already seeing that trend in New Jersey, where flower prices fell by $42 per ounce in 2023 as more dispensaries opened. Weinberg said he hopes to see prices decline, making medical cannabis more accessible and affordable for those seeking it.

What other notable shifts in 2023 might influence 2024?

As we peer into the future of cannabis, social and cultural shifts make for a continued surge of acceptance. A November 2023 Gallup poll found that seven in 10 Americans support cannabis legalization, an unprecedented high since the poll’s inception in 1969. This shift signals a broader societal acceptance of cannabis and a transformation in attitudes that will likely continue into 2024.

Of the notable occurrences from this year, standout moments reflecting on shifting societal acceptance of cannabis include:

Navigating 2024 cannabis with CWCBExpo

As we stand at the threshold of a new year, allow CWCBExpo to be your source for navigating the exciting twists and turns of the cannabis landscape. Whether through our monthly news updates or our annual in-person expo in NYC, stay tuned, stay informed, and join us on the journey ahead.

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