10 Biggest Cannabis News You Missed from July 2024

Hello again Fam!

Welcome to our July 2024 roundup of the top cannabis industry news! This month has been filled with significant developments, from legislative changes to changes in product consumption, impacting businesses and consumers alike. Whether you're a dispensary owner, a cannabis enthusiast, or an industry professional, staying informed about these changes is essential. This curated list will help you stay ahead of the curve and understand the dynamic landscape of the cannabis market.

From groundbreaking scientific research to sometimes pivotal legal decisions that affect new products, July has been a month of noteworthy events. We've scoured the headlines to bring you the most impactful stories that highlight the industry's evolution. So, sit back, relax, and dive into the top 10 cannabis news items that you might have missed this month. Each story is packed with insights and implications that could shape future months for canna consumers and stakeholders.

1. Virginia Fines Hemp Retailers $10.8M for Selling Restricted Products

Last year, Virginia officials fined over 300 hemp product retailers nearly $10.8 million for selling restricted items, according to Axios. These companies were penalized for offering delta-8 THC products, which are now banned under a 2023 law that limits THC in consumable hemp products to 2 milligrams. The law also mandates that hemp product retailers register with the state and that edible hemp products undergo lab testing and clear labeling. Additionally, topical products with hemp-derived cannabinoids must include bittering agents to prevent misuse. Full Story HERE

2. California State Fair Underway with On-Site Cannabis Sales & Consumption.

The California State Fair is now featuring on-site cannabis sales and consumption for the first time! Attendees can purchase and enjoy cannabis products in designated areas, marking a historic integration of cannabis culture into a major public event. This move highlights the growing acceptance and normalization of cannabis in everyday life. The fair runs until the end of the month, offering a unique blend of traditional fair attractions and the latest in cannabis experiences. Full Story HERE

3. Maryland Cannabis Sales Exceed $1.1 Billion During First Year

Maryland's cannabis market has seen impressive growth, surpassing $1.1 billion in sales during its first year. This milestone highlights the state's successful implementation of its cannabis program, reflecting robust consumer demand and the thriving industry. With both medical and adult-use markets contributing to this figure, Maryland is setting a strong example for other states. The future looks bright for Maryland's cannabis sector, promising further growth and opportunities. Full Story HERE

4. Is Hemp the Enemy of Florida's Adult-Use Marijuana Initiative?

Florida's adult-use marijuana initiative is encountering opposition from an unexpected source: the state's thriving hemp industry. Hemp businesses, flourishing under current regulations, are concerned that the legalization of recreational marijuana could lead to stricter controls and heightened competition, potentially threatening their success. This internal conflict underscores the complex relationship between hemp and marijuana markets, raising important questions about the future of cannabis legislation in Florida. As the debate continues, the outcomes could significantly impact both sectors. Full Story HERE 

5. Wyoming Ban on Hemp-Derived THC Products Survives Court Challenge

Wyoming's ban on hemp-derived THC products has withstood a legal challenge, ensuring these products remain prohibited in the state. The court's decision upholds the law targeting intoxicating cannabinoids like delta-8 THC, reflecting Wyoming's strict stance on THC regulation. This outcome is significant for both the state's legal landscape and the broader conversation about hemp and cannabis regulation nationwide. Businesses and consumers in Wyoming must continue to navigate these stringent restrictions. Full Story HERE

6. Senators Approve Bill to Let VA Doctors Recommend Medical Marijuana to Veterans in Legal States

In a landmark move, senators have approved a bill allowing VA doctors to recommend medical marijuana to veterans residing in states where it's legal. This bill aims to broaden healthcare options for veterans, recognizing the therapeutic potential of cannabis for conditions like PTSD and chronic pain. By granting VA physicians the ability to recommend medical marijuana, the bill hopes to improve the quality of life for many veterans who may benefit from its use. This decision marks a significant step towards integrating medical cannabis into veteran healthcare. Full Story HERE

7. Massachusetts Voters Will Decide Whether to Legalize Natural Psychedelics

Massachusetts voters will soon decide on the legalization of natural psychedelics in the upcoming ballot. The initiative aims to decriminalize substances like psilocybin and ibogaine, potentially opening new therapeutic avenues. If passed, this measure would mark a significant shift in drug policy, aligning Massachusetts with other states exploring the medicinal benefits of psychedelics. The decision will hinge on public support and ongoing debates about the safety and efficacy of these substances. Full Story HERE

8. Feds Warn More Companies to Stop Selling Delta-8 THC in Copycat Labels

Federal authorities have issued warnings to several companies to cease selling delta-8 THC products with packaging that mimics popular snack brands. The crackdown aims to prevent consumer confusion and protect public health, as these copycat labels can be particularly misleading to children. This action underscores the ongoing regulatory challenges surrounding delta-8 THC products and the importance of clear, honest labeling in the cannabis industry. Full Story HERE

9. New Connecticut Law Restricts THC Beverage Sales to Liquor, Cannabis Stores

Connecticut has implemented a new law that restricts the sale of THC-infused beverages exclusively to licensed liquor and cannabis stores. This move is designed to ensure that THC products are distributed in regulated environments that meet state guidelines, promoting consumer safety and responsible use. By limiting the sale of these products to specific stores, Connecticut aims to better control the distribution and prevent misuse. The law reflects the state's commitment to balancing market growth with stringent safety measures. Full Story HERE

10. High Times Dispensaries Hitting Hard Times Across the State

High Times dispensaries are experiencing significant challenges across various locations in the state, facing financial difficulties and operational setbacks. Despite the brand's strong reputation and iconic status, these dispensaries are struggling to remain operational amid increasing competition and regulatory hurdles. This situation highlights the broader issues facing the cannabis retail sector, demonstrating that even well-known brands like High Times are not immune to the industry's complexities and challenges. Full Story HERE

And there you have it again! July has been a month of dynamic changes and exciting advancements in the cannabis sector. From regulatory shifts to innovative product releases, these developments highlight the industry's growth and the continuous evolution of market trends. Staying updated with these changes is crucial for making informed business decisions and understanding the broader implications for the cannabis community.

As always, we encourage you to visit BDD Wholesale to stock up on the latest and greatest products. Our curated selection ensures you have everything you need to stay competitive and meet your customers' preferences. Thank you for joining us in this roundup, and stay tuned for next month's top cannabis news! Happy reading and happy stocking!

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