Cy Scott, CEO, Headset

Where is the Industry? What Will Happen With Rescheduling? The Comment Period is Over.

The Future is Upon Us. Where is the Industry?
What Will Happen With Rescheduling?
The Comment Period is Over.

What is the Drug Enforcement Agency (DEA) going to do now?

In our May and June newsletters we noted that the DEA was accepting public comments on rescheduling cannabis from Schedule I to Schedule III. The public comment period is now over. The DEA has over 40,000 comments to sift through. What will the DEA do? What is a likely outcome? And will the impending election have any impact if the DEA does not have a decision or has not taken action prior to the election?

According to the latest HEADSET analysis, 94% of respondents favored rescheduling or descheduling cannabis.

Read the latest from HEADSET.

HEADSET’s Cy Scott delivered the Industry Update at CWCBExpo New York on June 5.  At that time, the comments were already overwhelmingly favorable for rescheduling or descheduling.  Listen to Cy’s entire presentation on this month’s archived video.

“If they take these comments seriously and really take into account what the people are saying, this is pretty overwhelming, right?

“You’re going to see new investors coming in, new opportunity, and more capital available, which is good, especially for an emerging market like New York.”

– Cy Scott, at CWCBExpo, June 5, 2024

HeadSet
Cy Scott, Co-founder. CEO, Headset
New York State Cannabis News

Licensing News from the Office of Cannabis Management (OCM), Cannabis Control Board (CCB) 

 

  • Issuing more licenses across several categories bringing the total for 2024 to 730
  • Amendments to packaging, labeling and marketing regulations for licensees
  • Ongoing efforts to padlock illicit shops across NYC and NYS
New York State Government

At the meeting, the CCB asserted that the cannabis industry in NYS is thriving and growing and that cannabis sales in 2024 will reach $200MM by this June. They said that to date, NYS cannabis sales have surpassed $420MM.

NYS OCM Office of Cannabis Management

Recent Adult-Use Dispensary Openings

Just A Little Higher Murray Hill
NEW YORK CITY | 628 2nd Avenue, New York 10016
Website: justalittlehigher.com

 

Stoops NYC
NEW YORK CITY | 182 Fifth Ave, New York 10010
Website: stoopsnyc.com

 

RISE Dispensary Halfmoon
HALFMOON | 1675 Route 9, Watkins Plaza, Halfmoon 12065
Website: risecannabis.com

 

Riverbend Dispensary
HUDSON | 531 Warren Street, Hudson 12534
Website: riverbenddispensary.com

 

Happy Times Cannabis Co.
CHEEKTOWAGA | 3807 Harlem Road, Cheektowaga 14215
Website: happytimescannabis.com

 

Silver Cannabis Company
SARATOGA SPRINGS | 75 Weibel Avenue, Saratoga Springs 12866
Website: silver-therapeutics.com/location/saratoga/

 

Twisted Cannabis FLX
GENEVA | 501 Exchange Street, Geneva 14456
Website:
twistedcannabisflx.com

 

Kings House of Fire
CORTLANDT MANOR | 3006 E Main Street, Cortlandt Manor 10567
Website: kingshouseoffire.com

 

Green Genius NYC
NEW YORK CITY | 214 3rd Avenue, New York 10003
Website: greengeniusnyc.com

 

Cussin’s Cannabis
SCHENECTADY | 2075 Central Avenue, Schenectady 12304
Website: cussinscanna.com

 

Polanco Brothers Ridgewood
NEW YORK CITY | 6633 Fresh Pond Road, Ridgewood 11385
Website: polancobrothersridgewood.com

 

Herb-Z
NEW YORK CITY | 109 E Taft Road, North Syracuse, 13212
Website: herb-z.com

 

Robinson’s Dispensary
ALBANY | 106 Everett Road, Albany, 12205

 

Arkansas, Nebraska and North Dakota Cannabis News

New Ballot Measures

Cannabis advocates in several states organized and gathered signatures to get legalization measures on their 2024 state ballots. The advocates in three states, Arkansas, Nebraska and North Dakota, had more than enough signatures to get the respective measures on the ballots. Arkansas and Nebraska seek medical ballot measures while the North Dakota ballot measure supports adult-use legalization.

NORML
Delaware Cannabis News

Transitioning Dispensaries from Medical to Adult Use

Delaware Governor John Carney signed a legislative bill that allows a pathway for medical licensees and dispensaries to transition to adult-use operators. That pathway has fees to transition. The bill is meant to catapult the development of the adult-use cannabis market.

South Africa Cannabis News

South Africa Works to Build its Cannabis and Hemp Sectors

In November of 2023, CWCBExpo editors visited the South African Consulate in New York City to discuss developing a cannabis industry. CWCBExpo has  been following that country’s cannabis progress since our visit. Here are the latest developments.

South Africa has embarked on several priorities for their country’s Investment Strategy that will spur job creation and growth, and foster recognition of people’s rights.

This past spring, South African President Ramaphosa took significant action regarding the Cannabis and Hemp sectors. In May, President Ramaphosa signed a law called the Cannabis for Private Purposes Act (CfPPA) which regulates the cultivation, possession and use of cannabis by adults in private settings. It also removed cannabis from their Drugs and Drug Trafficking Act. The President’s action opens up the medical market even further for the medicinal cannabis and for further regulatory opportunity for cannabis use among adults.

President Ramaphosa’s actions continued in June when he took the results of a Phakisa that explored the Cannabis and Hemp sectors. A “Phakisa” is a targeted program that seeks to fast-track the government’s targets and goals that help business, education, society and government. The Phakisa for cannabis and hemp brought stakeholders together from several groups. The goal was to develop a cohesive plan to define policy and get various sectors of the South African government to work together to build a meaningful regulatory program for the cannabis and hemp sectors.

President Cyril Ramaphosa
Art installation of South African record labels inside the South African Consulate in New York City, November 2023
Art installation of South African record labels inside the South African Consulate in New York City, November 2023.

THIS MONTH’S CWCBExpo NY 2024 ARCHIVED VIDEO

Industry Update by Cy Scott:
“Trends, Challenges and Opportunities –
Why New York is the Market to Watch in the Midst of Rescheduling”

This Industry Update, recorded at CWCBExpo on June 5, 2024, gives us a big-picture overview of the adult-use market across the United States including the implications of rescheduling from a Schedule I to a Schedule III classification. Also addressed are growth market trends, consumer behavior preferences and sales of different form factors. The data and analytics focuses on the New York Market and why you should put it front and center in your sights. This is a not to be missed market analysis.

Presented by Cy Scott, Co-Founder, CEO, Headset, with Tim Seymour, Portfolio Manager, CNBS Cannabis ETF; Co-Host, CNBC Fast Money.

Cy Scott and Tim Seymour, June 5 2024 at CWCBExpo NY

((from the left) Cy Scott and Tim Seymour

Don’t miss out. Get prime exhibit space now.

CWCBExpo, 11th Annual
June 4 – 5, 2025
Javits Convention Center, NYC

 

Rescheduling, Fireside Chats, Market Trends, Pavilions, Networking Events

Rescheduling, Fireside Chats, Market Trends,
Pavilions, Networking Events

CWCBExpo New York –
Here We Come

“Rescheduling cannabis to Schedule III would be a game-changer for New York’s newly legal adult-use market…Ultimately, it will accelerate the already strong pace of growth we are currently seeing in New York’s legal cannabis market.

 

Cy Scott, Co-Founder & CEO, Headset

Don’t miss the Industry Update by Cy Scott, “Trends, Challenges and Opportunities – Why New York is the Market to Watch in the Midst of Rescheduling” on Wednesday, June 5, 2024.

Cy Scott, Co-founder. CEO, Headset
Cy Scott, Co-Founder & CEO, Headset
Federal Rescheduling

While not the ideal designation the industry wants, May was all lit up with news of rescheduling cannabis from a Schedule I drug to a Schedule III drug. More needs to be done, such as completely descheduling cannabis.

A public comment period is underway after the Justice Department published the proposed rescheduling rule. The public comment period runs through July 22, 2024, and comments can be submitted electronically through their portal. Now is the time to add your comments.

The CWCBExpo Conference Program will Address Rescheduling
Josh Kesselman, Cy Scott, Tim Seymour, Tremaine Wright

The latest news and impact of rescheduling cannabis will be energetically discussed in our workshops, conference seminars, networking events, and on the show floor. A few of the exciting conference highlights are:

  • Market Trends & Opportunities with Cy Scott, Co-Founder & CEO Headset
  • Fireside Chat featuring Chair Wright of the Cannabis Control Board, with Kristin Jordan, Esq., Founder & CEO, Park Jordan
  • Fireside Chat & Keynote featuring Josh Kesselman, Founder & CEO, HBI International/RAW Rolling Papers, with Tim Seymour Portfolio Manager, CNBS Cannabis ETF; Co-Host, CNBC Fast Money
  • Where is Wall Street?
  • Behind the Headlines: Meet the Cannabis Press and Editors
  • Business & Culture at a Crossroads: Cannabis & Psychedelics
  • The Politics & Medicine of Cannabis: A Multi-state Approach
  • Cannabis Retail Marketing in the Digital Era
  • High Tech: How Technology Can Drive Your Business
  • Transactions and Services to Expand Your Cannabis Business
  • Journey to Legitimacy: The OGs and OQs of Cannabis
Kymberly Byrnes, Kristin Jordan, Gia Morón, Dawne Morris
NYS Licensing News

Changes in the NYS Office of Cannabis Management and Cannabis Control Board

A lot has happened regarding the NYS Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB). As May unfolded, we learned of the impending departure of Chris Alexander, Executive Director of the OCM, effective June 7, 2024.

In addition, NYS Governor Kathy Hochul mandated several significant operational changes to the OCM for the short and long-term. The changes came on the heels of the final report that Jeanette Moy, Commissioner of the Office of General Services, issued after her 30-day research mission of the OCM.

The operational changes will have an impact on several aspects of what the OCM manages including:

  • A new task force to deal with illicit cannabis activity
  • Licensing procedures
  • Capital for justice-involved CAURD licensees

Learn more about what Governor Hochul announced and about the operational changes and new task force from the Finger Lakes Daily News.

NYS OCM Office of Cannabis Management
Finger Lakes Daily News
New Jersey News

New Jersey Cannabis Regulatory Commission

Governor Phil Murphy also instituted some major changes at the the NJ Cannabis Regulatory Commission (CRC) in May. Executive Director Jeff Brown is transitioning to a new position at the NJ Department of Health (DOH) where he will be the new deputy commissioner. His replacement at the CRC will be Christopher Riggs, who previously held the role of deputy executive director and was formerly chief counsel of the CRC.

Cannabis Risk Manager
NJ Cannabis Regulatory Commission
Get the CWCBExpo Run Down from Christine Ianuzzi

In this conversation with KymB, Christine Ianuzzi, Founder and CEO of CWCBExpo, shares her insights on rescheduling and gives a rundown of what’s happening at next week’s 10th Annual CWCBExpo, including the many exciting happenings there that you won’t want to miss.

“This is the year that CWCBExpo celebrates the community, the industry, our clients, and all the newcomers who’ll be joining in – the industry is about to grow again.” – Christine Ianuzzi
Christine Ianuzzi
In addition to the full conference program, CWCBExpo offers pre-show workshops, a dynamic exhibit floor, and legendary networking events.

Two Pre-Show Workshops:

Dispensary Ownership & Operations Bootcamp

Deep dive into seed-to-sale discussions including licensing, site selection, real estate, regulations, advertising, design, staffing, security, delivery, compliance, taxation, and product knowledge.

Separate Ticket Required, includes coffee and lunch

Cultivation: Licensing, Technology and Operation

Explore regulations, licenses, funding, challenges, technology, ROI, facility design, security, humidity, lighting, strains, and artificial intelligence.

Separate Ticket Required, includes coffee and light snack

Dynamic Exhibit Floor:

Discover the CWCBExpo exhibit floor. Meet great exhibitors, showcasing cutting-edge products, services, and innovations. Don’t miss the specialized pavilions:

 

  • Women’s Pavilion: Meet new female entrepreneurs in the cannabis industry.
  • Cannifest Seed Pavilion: Explore the latest in seed innovation and genetics.
  • New York Small Farma Pavilion: Meet and learn from local small-scale cannabis farmers.
  • New York Cannabis Workforce Pavilion Job Fair: Discover career opportunities and workforce development in the cannabis sector.
  • Governmental Area: Get your questions answered from Cannabis NYC, NYS Office of Cannabis Management, NJ Business Action Center and other agencies

Networking Events:

B2B Rooftop Bash with the NORML FORML at the Yotel (separate ticket required)
At the Yotel Rooftop, 570 Tenth Avenue at West 42nd Street

Enjoy an open bar, appetizers, and drinks while networking with industry professionals. Support NORML’s mission and participate in NORMAL’s gift basket give-away.

 

Yacht Party (separate ticket required)
Enjoy the stunning sunset and New York City skyline with an open bar delicious dinner, dessert, music, dancing and ample networking opportunities. Don’t miss this chance to connect and celebrate in style.

 

Women in Cannabis Business Luncheon (separate ticket required)
Sponsored by Proteus420

Located on the show floor.

Enjoy a networking lunch featuring opening remarks by Kymberly Byrnes, a fireside chat with Dawne Morris, and a panel discussion “Entrepreneurship While Female: Motivated, Intelligent, and Successful.” Connect with inspiring women leaders and gain valuable insights into the cannabis industry.

 

Proteus420

THIS MONTH’S ARCHIVED VIDEO

“The Future of Cannabis Tourism in the Big Apple and Beyond”

Presented on June 1, 2023, at CWCBExpo, Jacob Javits Convention Center, New York City.

As the cannabis industry continues to evolve, opportunities emerge to engage with an international audience interested in the plant’s history, lifestyle, and culture. Increasingly, conversations around cannabis tourism are moving from consumption opportunities to education and exploring the plant’s social impact or place in history and pop culture. While adult-use legalization continues to move like wildfire through state-side tourist meccas like Los Angeles, Las Vegas, and New York City, what opportunities exist for entrepreneurs who recognize the plant as a potential draw for tourism dollars?

This session was moderated by Will Yakowicz, Staff Writer, Forbes; with Precious Hester Brown, Founder, CEO, Entertaining & Elevating With Cannabis; Ariel Palitz, Founding Director, NYC Mayors Office of Nightlife;  and “Hawaii” Mike, Founder, Chef for Higher

Tourism, 2023

(pictured from the left) Precious Hester Brown, Ariel Palitz, “Hawaii” Mike, and Will Yakowicz

The CWCBExpo BLOG: Timely News & In Depth Articles

CWCBExpo blogs contain relevant, timely information. Recent subjects include cannabis rescheduling and other legalization and regulatory updates.

Gavel and Cannabis
CWCBExpo, 11th Annual
June 4 – 5, 2025
Javits Convention Center, NYC

 

NYC Couple on rooftop with cannabis plant

Rescheduling Leads The Way

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. 

 

The Justice Department’s recent announcement of the formal process to reclassify cannabis from Schedule 1 to Schedule III dominated cannabis headlines this month, and for good reason — it’s one of the most monumental shifts in federal policy toward cannabis in decades. Get the latest — and CWCBExpo’s take on rescheduling — in this blog.

 

Cannabis is officially being rescheduled

 

The Justice Department has officially announced the initiation of a formal rulemaking process to reschedule cannabis from a Schedule I to Schedule III drug under the Controlled Substances Act (CSA). This marks a pivotal shift in federal drug policy, as cannabis has remained classified as a Schedule I substance since the CSA was enacted in 1970. The decision follows President Joseph R. Biden, Jr.’s directive to the Attorney General and the Secretary of Health and Human Services (HHS) to conduct a comprehensive scientific review of cannabis’ current schedule status. 

 

After receiving HHS’s recommendations last August, the Attorney General sought legal advice from the Justice Department’s Office of Legal Counsel (OLC) to inform the rulemaking process. As part of this process, the DOJ has submitted a notice of proposed rulemaking, inviting public input and engagement. 

 

The public comment period has opened on the rule change and will remain open until July 22, 2024. You can submit your comments here.

 

While advocates like ourselves at CWCBExpo are grateful for the long-awaited progress, we recognize that there is still work to be done. 

 

“Cannabis should never have been Schedule I. I’m thankful this long-awaited step toward justice is finally reality,” said CWCBExpo CEO Christine Ianuzzi. 

 

The 2024 Farm Bill includes steps backward for hemp

 

The 2018 Farm Bill was a notable game-changer for many in the hemp and cannabinoid industries and in many ways enabled the multi-billion-dollar hemp CBD market crazy of the late 2010s and the early 2020s. The 2024 version of this legislation — a bill that’s renewed every few years — is now tackling the world of hemp-derived cannabinoids.

 

The U.S. House Committee on Agriculture voted in favor of an amendment to the 2024 Farm Bill that would ban intoxicating cannabinoids derived from hemp, like delta 8 THC, and synthesized cannabinoid products, like hemp-derived delta-9 THC products that have made their way onto smoke shop shelves and online sales of late. This change would alter the definition of hemp, splitting it into two categories: industrial hemp for making clothing, seeds for eating, and other non-cannabinoid purposes, and “hemp grown for cannabinoid extraction.” Currently, there is only one definition of hemp on the federal level: cannabis sativa plants containing no more than 0.3% THC.

 

The U.S. Hemp Roundtable, a national policy and advocacy organization, came out against the amendment, describing it as “deeply flawed and deeply objectionable.”

Aside from the uneasiness this amendment has sent through the hemp industry, the 2024 Farm Bill does include several other provisions that may be overall beneficial for the sector. For example, the bill includes provisions to help address regulatory barriers faced by certain hemp farmers while also revising restrictions on industry participation by individuals with prior drug felony convictions. 

 

Daily cannabis consumption surpasses daily alcohol consumption for the first time

 

Research conducted on data from the National Survey on Drug Use and Health found that around 17.7 million Americans consume cannabis daily or near-daily, while more than three million fewer people consume alcohol at the same rate. In 1992, less than 1 million people said they were daily or near-daily cannabis consumers. It’s a significant shift shaped by more than a decade of legal adult-use cannabis and more than 25 years of medical cannabis programs in the United States. 

 

69% of American voters support cannabis legalization 

 

A recent Fox News poll revealed that nearly seven in 10 American voters, including a majority of Republicans, support the legalization of cannabis. 

 

Released in the wake of Pres. Biden’s announcement regarding rescheduling, the survey underscores the widespread support for broader reform aimed at legalization altogether. Of the registered voters polled, a substantial 69 percent expressed their backing for legalization, with 45 percent indicating strong support for the reform. While Democrats exhibit higher support for the policy change, at 81 percent, the poll also highlights significant bipartisan backing, with 55 percent of GOP voters and 65 percent of independents endorsing legalization.

 

Cannabis wholesale prices are dropping

 

Wholesale cannabis prices are declining in some state-regulated markets, according to data shared by LeafLink and Cannabis Benchmarks. Overall, average wholesale flower prices dropped by 8.1% in 2023; by comparison, prices decreased by nearly 42% in 2022. Only three state markets experienced wholesale cannabis flower price increases: Alaska (7%), Missouri (20%), and Oregon (6%). 

In 2023, according to LeafLink’s Wholesale Cannabis Pricing Guide:

 

  • Average cartridge prices per gram decreased by 11.8%, from $20.42 to $18.02.
  • Average concentrates prices decreased by 11.5%, from $12.52 to $11.08.
  • Average edibles and ingestibles prices decreased by 4.8% over the course of the year, and prices for pre-rolls decreased by just 0.12%, a leveling off from the 12% average price decrease in 2022.

Make plans for cannabis’s growth at CWCBExpo

 

What do all these changes on the national level mean for your business? Come find out at CWCBExpo 2024. From exhibitors that’ll grow your business to making meaningful connections, start setting the groundwork for your next growth stage. Register now

Spring Cannabis News from Across the Nation

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. 

As spring blooms and 4/20 celebrations have come to a close, the national cannabis industry is on a high right now (pardon the pun). It’s already been a busy season in cannabis, including record-breaking sales and significant legislative developments. Join us as we recap recent headlines and explore what’s going on in the cannabis industry across the nation.

Congressional lawmakers continue demands for rescheduling

A bipartisan group of 21 congressional lawmakers is applying pressure to the Drug Enforcement Administration (DEA), urging swift action to reclassify cannabis from its restrictive Schedule 1 status. 

Led by Sens. Elizabeth Warren (D-MA) and John Fetterman (D-PA), along with Reps. Earl Blumenauer (D-OR) and Barbara Lee (D-CA), the coalition penned a letter to DEA Administrator Anne Milgram and Attorney General Merrick Garland highlighting the urgent need for rescheduling. Noting the eight-month lapse since the U.S. Department of Health and Human Services (HHS) recommended this shift, lawmakers emphasized the imperative need for the DEA to act promptly. 

“Though marijuana is widely used and… associated with fewer adverse outcomes than alcohol, it remains in the most restrictive schedule,” the lawmakers wrote in the letter. “This placement produces a cascade of severe penalties for marijuana users and businesses, including for criminal records, immigration statuses, employment, taxation, health care, public housing, social services, and more.”

Cannabis tech firms report strong cannabis sales on 4/20 

Jane Technologies, a cannabis tech firm specializing in e-commerce and point-of-sail solutions, released a report highlighting strong cannabis sales during the 4/20 holiday. Jane’s network spans more than 2,500 dispensaries and brands across 39 U.S. states and Canada, offering a substantial perspective of activity within the industry on its flagship holiday.

The total number of transactions at Jane-powered locations reached 245,926 on 4/20, marking a notable 1.67% increase from the previous year’s figures. Total transactions for the entire holiday weekend surpassed 500,000, according to a statement released by the company. Jane Technologies also reported record-breaking sales figures in many states, most notably in Illinois, where sales at retailers in the Jane Technologies network soared to almost $4.5 million. 

“We saw record-breaking sales across the country this 4/20,” Soc Rosenfeld, Jane Technologies CEO and co-founder, said in a statement. “At Jane, it was an extremely successful day with well over half a million transactions completed on the platform this holiday weekend.”

According to the report, top-performing brands included Rythm, &Shine, STIIIZY, Savvy, and Float. Flower emerged as the most popular product type, followed closely by vapes and edibles. 

Cannabis POS platform Treez, which operates in 11 states and serves over 600 dispensaries, reported similarly booming sales data. According to data from Treez, there was a 120% increase in customers, products sold, and gross sales compared to 4/20 in 2023. 

However, according to Treez, the biggest spike in sales came the day prior as consumers sought to stock up ahead of the holiday. On April 19, Treez reported a 200% increase over last year’s numbers. That suggests that the day before 4/20 provides an even bigger bump for retailers, as many consumers prefer to refresh their stash ahead of the holiday festivities. 

Schumer pushes to pass cannabis banking bills in ‘bipartisan way’ 

Senate Majority Leader Chuck Schumer (D-NY) is once again championing a bipartisan effort to advance the Secure and Fair Enforcement Regulation (SAFER) Banking Act among a list of legislative priorities for the year. Speaking at a press briefing on April 23, Schumer emphasized the need for bipartisan cooperation in addressing various legislative matters. In addition to the SAFER Banking Act, he underscored the importance of addressing issues like insulin pricing, online child safety, and railway safety. 

“We’ve got a lot to do,” Schumer said. “And if we can work in a bipartisan way, we will.”

Schumer has repeatedly pushed to move the SAFER Banking Act, which previously cleared the Senate Banking Committee last September before dying without a floor vote. However, the Senate recently approved long-awaited and contentious appropriations legislation that may have cleared the way to focus on new legislative items like cannabis reform.

CWCBExpo is your gateway to the cannabis industry

The cannabis industry continues to rack up wins, from a record-breaking 4/20 to continued momentum on Capitol Hill. As the industry grows, CWCBExpo offers unparalleled opportunities to connect, learn, and stay updated on the latest news and trends shaping the cannabis industry. Register for our show and business exposition June 5 and 6 at the Javits Convention Center in New York City, and stay up to date on the latest changes and updates in the industry with our monthly news updates. 

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. 

Loading...
Skip to content
Loading...
Skip to content