Be in the Right Room
Shape, Witness and Own the Next Phase of Cannabis History.
Be Part of CMB – the Business Leader of the Pack.
As December ends, it is also the lead-in to a new and challenging year ahead for the cannabis industry – perhaps like no other. As we leave 2024 and usher in 2025, there is so much that lies ahead for cannabis business owners, regulators, lawyers, accountants, medical professionals, and investors to watch including:
- The establishment of a new government administration and new nominees and appointees to sensitive government agencies that regulate and mandate currency and financial markets, health, medicine, drugs, education, the flow of public information and social media platforms
- The outcome of the Rescheduling hearings to reclassify cannabis from a Schedule I to a Schedule III drug as the hearings unfold
- Ballot measures for several states that voted on medical and/or retail cannabis legislation and how they get implemented or challenged as the year progresses
- How an economic layer due to cannabis tax revenues is being built in states that have legal adult-use cannabis laws
- The legitimate cannabis business and industry can’t be ignored much longer nor be unsupported long-term at the federal level without some banking provisions finally being passed by Congress
- New York is expected to exceed $1 Billion in 2024 retail sales
- New Jersey surpassed $1 Billion for 2024 in combined medical and retail sales – up 25% compared to 2023
Cannabis Means Business (CMB)
Be ready for the future and making your mark in the industry. We announced our rebrand from CWCBExpo to Cannabis Means Business (CMB)—designed to better serve the modern cannabis industry and build your business to seize and create the future. New York is not just a sales epicenter – it’s becoming a hub of commerce and insight, influencing the cannabis market on a national and international level.
Cannabis Means Business–New York Global Edition is a transformation that reflects the rapid growth of cannabis as a legitimate global industry. Make sure you are it the right room – the CMB room!
Cannabis Means BUsiness, Conference & Expo
June 4 – 5
Javits Convention Center, NYC
Federal Rescheduling News
CMB Recorded Discussion About the DEA’s December 2nd Hearing
On December 2, 2024, the Drug Enforcement Administration (DEA) held its first hearing about Rescheduling cannabis from a Schedule I to a Schedule III drug – without testimony from selected participants. Full hearings with testimony have been delayed into 2025 with a timeline set by Administrative Law Judge John Mulrooney. Hearings with actual witness testimony is set to begin January 21, 2025.
We share with you a special conversation that dissects the issues of rescheduling and its ramifications for the industry with Steph Sherer, Founder, Executive Director, President of the Board, Americans for Safe Access, and moderated by Chris Day, Co-Founder of GCNC.
Re-Scheduling Hearings – January through March 2025
Witness testimony is scheduled to begin on Tuesday, January 21, 2025 and continue with a sequence of scheduled sessions through the beginning of March.
Conservative Think Tank: 73% of Americans Support Some Form of Legalization
In past newsletters we highlighted polls that show there is an overwhelming majority of Americans who support cannabis legalization at the federal level for medical and/or adult-use. Recent poll data as of December 18, 2024 – from the conservative think tank, Manhattan Institute – has yielded more of the same. In fact, the data shows that 73% of its respondents supported some form of legalization.
Federal Farm Bill News
Farm Bill Extended
As part of the last-minute government congressional action to avert a government shutdown as 2024 comes to a close, the Farm Bill was extended for one year which leaves the hemp and tetrahydrocannabinolic acid (THCA) definitions and rules alone.
New York State Cannabis News
New York State Office of Cannabis Management, Cannabis Control Board
The final meetings for 2024 were held by the NYS OCM this December. A number of issues were addressed as the last meetings were conducted.
The December 11, 2024 CCB meeting discussed details of the year in review including:
- Number of operational dispensaries
- Retail Sales hitting $1 Billion
- Number of adult-use licenses and types of licenses issued
- Medical and Cannabinoid Hemp Licenses Issued
- Enforcement efforts to shut down illicit shops
- Compliance Inspections
- Medical cannabis program
- Energy & Sustainability
- …and many other items
The Cannabis Advisory Board (CAB) held their last meeting on December 13, 2024 and discussed the number of retail licenses that should be issued in NYS. The number they decided on was 1,600 retail dispensaries that could be sustained. This figure was based upon market data that was presented by the OCM.
To close out the year, the NYS OCM has some good news for its “budding entrepreneurs.” It announced that the OCM and Our Academy are partnering together to provide workforce development and mentorship for justice-impacted entrepreneurs.
Recent New York Adult-Use Dispensary Openings
As 2024 comes to a close, the OCM has reported that a total of 269 legal Adult-Use dispensaries have opened for business.
Congratulations to these newly opened dispensaries in NYS:
Peace, Love, & Bud
LOCKPORT | 320 S Transit Street, Lockport 14094
Website: www.plbud.com
Beleaf Calverton
CALVERTON | 4462 Middle Country Road, Calverton 11933
Website: https://beleafny.com
Cannabis Central
CLIFTON PARK | 1520 Crescent Road, Clifton Park 12065
Website: https://shopcannabiscentral.com
Domes Dispensary
KINGSTON | 268 Forest Hill Drive, Kingston 12401
Website: domesdispensary.com
Farmers Choice Dispensary
FISHKILL | 18 Westage Drive, Fishkill 12524
Website:
https://farmerschoicedispensary.com/
Long Island Cannabis Club
DEER PARK | 94 East Industry Court, Deer Park 11729
Website: https://cannabisclubli.com/
RR Legacy Dispensary
GLENS FALLS | 12 Hudson Avenue, Glens Falls 12801
Website: https://rrlegacydisp.com
Cloud 914
PEEKSKILL | 807 Washington Street, Peekskill 10566
Website: https://cloud914.com
ROC Dispensary*
*This location is a microbusiness with retail dispensary. ROCHESTER | 324 Jefferson Road, Rochester 14623
Website: https://rochester420.com
Evexia Cannabis
HALFMOON | 217 Guideboard Road, Halfmoon 12065
Website: https://evexiacannabis.com
The Cannabis Store
BUFFALO | 1936 S Park Avenue, Buffalo 14220
Strain Stars Riverhead
RIVERHEAD | 1871 Old Country Road, Riverhead 11901
Website: https://strainstarsny.com
82-J Cannabis Company
BUFFALO | 1673 Hertel Avenue, Suite B, Buffalo 14216
Website: https://eightytwo-j.com
Wilde Roots
CASTLETON | 4179 State Route 20, Castleton 12033
Website: https://wilderoots.com
The Green Village Dispensary
NEW HARTFORD | New Hartford Shopping Ctr, Suite 41, New Hartford 13413
Transcend Wellness
TROY | 289 Oakwood Avenue, Troy 12182
Website: https://transcendwps.com
Charlie Fox
MANHATTAN | 719 7th Ave, New York 10036
Website: https://shopcharliefox.com
Upstate Pines
RED HOOK | 7345 South Broadway, Red Hook 12571
Website: www.upstatepines.com
The Flowery Brooklyn
BROOKLYN | 692 Grand Street, Brooklyn 11211
Website: www.thefloweryny.com
The Kokoro Way Cannabis
KENMORE | 2454 Elmwood Avenue, Kenmore 14217
Website: www.thekokoroway.com
The Emerald Dispensary Manhattan
MANHATTAN | 1190 Lexington Ave, New York 10028
Website: www.emeralddispensary.nyc
I Bud You NY
BRONX | 898 Gerard Avenue, Bronx 10452
Housing Works Cannabis Co NoMad
MANHATTAN | 846 6th Avenue, New York 10001
Website: www.hwcannabis.co
Ripe Cannabis
SCHENECTADY | 245 Broadway, Suite 4, Schenectady 12305
Website:www.ripecannabisny.com
New Jersey Cannabis News
New Jersey Cannabis Regulatory Commission Issues Announcements
New Jersey was also busy in December having their final meeting and decided on several things heading out of 2024 and into 2025.
- Consumption areas will be a reality very soon. The NJ-CRC approved a Notice of Application Acceptance (NOAA) for consumption areas and will be accepting applications from specific licensee groups starting on January 2, 2025, and continuing on April 2, 2025 and July 2, 2024. All applicants must use the portal to submit their applications.
- In our November newsletter we highlighted that The Social Equity Excise Fee (SEEF) decision amount for 2025 regarding cultivation had been extended past November 1 to give the NJ-CRC more time to get an appropriate (SEEF) rate determined. The SEEF is collected from cannabis cultivators when they sell or transfer products to other license classes. During their final public meeting, they voted that the SEEF be adjusted to $2.50 per ounce, an increase of $1.24 from 2024.
- The 2025 10 public meetings schedule was approved at the final meeting of the NJ-CRC.
New Jersey Surpasses $1 Billion in Sales
There is more good news out of NJ regarding the combined medical and retail cannabis sales – combined they reached $1 billion this year – an increase of 25% when compared with the combined cannabis sales of 2023.
Pennslyvania Cannabis News
PA House Democrats are Drafting a Legalization Bill
Will Pennsylvania join the other 24 states to legalize recreational cannabis? House Democrats are trying to do just that for PA with new legislation that is currently being written. Dan Frankel, Representative of Allegheny, and Rick Krajewski, Representative of Philadelphia are co-sponsoring legislation.
Ohio Cannabis News
Ohio Adult Use Sales Surpass $200 Million in 4 Months
High hopes are in the air in Ohio for cannabis recreational sales. This past August, Ohio began recreational sales. In the four months since, Ohio recreational sales has hit over $200M.
Nebraska Cannabis News
Lawsuit Seeks to Stop Voter-Approved Measure for Medical Cannabis
We highlighted in the November newsletter that Measures 437 & 438, (Medical Expansion), both passed during the November election by Nebraska voters. Former Senator Kuhn has filed another lawsuit that seeks to stop the two voter-approved measures for medical cannabis legislation.
Austrailia Cannabis News
Australia Capital Teritory (ACT)
Australia is known as the down under continent. Did you know that within Australia, there is the Australian Capital Territory (ACT), which has cannabis rules that were enacted in 2020 specifically around personal use, and were designed to help people to stay out of the justice system?
Recently, in 2024, changes were made to those rules to shore up support of that goal. While cannabis is not legalized in the ACT, it has been decriminalized in the ACT.
It is illegal to sell, share or give cannabis to anyone as a gift, for people under the age 18 to grow, use or possess cannabis, and to drive under the influence of cannabis.
Some of the recent allowable changes regarding personal use include:
- Having possession of 50 grams of dried cannabis or up to 150 grams of fresh cannabis
- Growing 2 cannabis plants per person, up to 4 plants per household
- Using cannabis in one’s own home
Some of the changes that are not allowable regarding personal use and are considered offenses include:
- Smoking or using cannabis in a public place
- Exposing a child or young person to cannabis smoke
- Storing cannabis within the reach of children
- Growing cannabis using hydroponics or artificial cultivation
- Growing plants where they can be accessed by the public
This Month’s 2024 Archived Video
Business & Culture at a Crossroads: Cannabis & Psychedelics
This month we feature a timely session from our June 2024 conference that ties into current conversations around psychedelics and cannabis.
As cannabis has been emerging out of isolation and extreme stigma, it has created numerous opportunities across the United States and the globe. Cannabis has evolved and is still evolving as a business layer for ancillary services, the medical community, adult-use markets, and government research. The psychedelic market has also emerged as an opportunistic business layer. While both cannabis and psychedelics offer business opportunities and potential for investors – the culture and the business pressures are each at a crossroads.
In this panel we discuss the progress and obstacles for the next level of business and opportunities for these two Schedule 1 drugs. Tune in to this informative, timely, energetic and forward thinking panel discussing the legal, medical and cultural crossroads of cannabis and psychedelics.
Moderator: Gaetano Lardieri, Co-Founder of Future Entheogenic Medicines LLC (F.E.M.), Co-Founder, THCBD
Speakers: Kymberly Byrnes, Co-Founder and Chief Marketing Officer, TribeTokes; Lisa Gora, Attorney, Epstein Becker Green; Maurice Hinson, MD, Founder, Director, MediRootz Medical Group; Hospitalist, Jamaica Hospital Medical Center; Ryan Hurley, Cannabis Practice Leader, Rose Law Group; Joe McKay, Retired FDNY Firefighter, Board Member, Clusterbusters
This session was recorded at CWCBExpo, Javits Convention Center, NYC, on June 5, 2024.
To watch this session now, click here.
