The 10 Biggest Cannabis Industry News you missed Last Month.
Cannabis legalization is spreading like wildfire, and it seems like there's always something new happening in the cannabis industry. If you're not keeping up with the latest news, you're going to miss out on a lot of important information. Here are the 10 biggest news stories from July 2022.
1.- Americans Now Smoke More Marijuana Than Cigarettes, For The First Time Ever, Gallup Reports According to recent data from Gallup, more Americans now openly admit that they smoke marijuana or consume cannabis-infused edibles than having smoked cigarettes in the previous week, with the pollster adding that cannabis use is likely to continue increasing. Even though possessing marijuana is illegal at a federal level and punishable by jail time in certain states, tobacco has remained totally legal across the United States. Full Story HERE
2.-Las Vegas cannabis industry preps for the launch of consumption lounges With the release of final regulations for marijuana consumption lounges in Nevada, Las Vegas cannabis executives are preparing to draw customers away from the Strip and into their smoking rooms. Since it may take up to five years for lounge licenses to be processed, many businesses are eager to get a head start on visitors who will need a place to consume upon arrival in this tourism-driven market. Per the law, these establishments can open statewide as early as late 2022. Full Story HERE
3.- Oklahoma Supreme Court Gives Marijuana Activists Temporary Win As They Fight For Legalization Ballot Placement The Oklahoma Supreme Court has not yet decided if a marijuana legalization initiative will be on the November ballot, an idea that lawmakers and activists have mixed reactions to. The group behind the measure, Oklahomans for Sensible Marijuana Laws (OSML), submitted more than required signatures last month. They also approved revisions from the state attorney general before the secretary of state’s office certified the signatures last week.
Full Story HERE
4.-Florida Gov. DeSantis to Pot Licensees: ‘Charge These People More’ According to Florida Gov. Ron DeSantis, medical cannabis license holders in the state must pay more for their application and renewal fees. However, operators in the state believe that raising application and renewal costs might put some struggling companies out of business. “These people should be charged more,” DeSantis stated. Full Story HERE
5.- Burning Treez Lights Up Southern California For the inaugural Burning Treez festival, presented by Cannexs, Adelanto Stadium in Southern California was completely hotboxed on August 26 and 27. It was a celebration of hip-hop, sports, and most of all—the leafy green herb. The event's headliners were Ludacris, Rick Ross, Busta Rhymes, Xzibit, Too $hort, Kurupt, and other artists, including Spliff Star, Loomi$, Ras Kass Naté the Soulsanger, and many more. On August 26, the World Series of Cannabis was held, and over 30 brands from California competed for titles. In attendance was Adelanto Mayor Gabriel Reyes, who supported the cannabis industry.
Full Story HERE
6.- How packaging can help cannabis brands gain a competitive edge Packaging may be one of the only forms of advertising accessible to marijuana businesses, and it might help sell goods that would otherwise go unnoticed on drug store shelves. “A lot of times, what catches someone's attention with a product for the first time is the packaging, whether it's the jar or label or box.” Elizabeth Corbett is VP of sales at AE Global, a Miami packaging solutions firm. Before getting involved with cannabis packaging, she worked with large corporations such as Starbucks and Estee Lauder. Full Story HERE
7.- Mars Wrigley Wins Lawsuit Against Cannabis Companies Selling Skittles Trademark In May 2021, Mars filed a lawsuit against "illegal retailers," alleging that they illegally used Mars' registered trademarks. “Mars Wrigley is strongly opposed to the use of well-known candy brands in the promotion and sale of THC products, which is highly misleading and irresponsible,” read a company statement. Full Story HERE
8.- CBD prices are stabilizing after years of decline – but is it progress?
Not all manufacturers are ready to say that CBD pricing won’t keep falling, however. “I think the price is going to continue to get compressed,” said Bharat Ayyar, general manager of Vermont-based Sunsoil, which grows hemp and makes CBD. Ayyar tracks CBD pricing on his own and believes the stabilizing prices might be a sign that surviving CBD makers have already cut prices as far as they can. He noted that many publicly traded CBD companies have yet to show profits. Full Story HERE
9.- Here’s What Happened When I Used a CBD Topical for Getting Tattooed The tattoo community is comparable to any other: many people smoke marijuana. Artists do so on or off the clock for recreational and medical purposes. Some tattoo clients have confirmed success with cannabis topicals, demonstrating their effectiveness during aftercare. The two to three-week healing period for a tattoo is important. Mistakes that result in health issues or a new tattoo lacking saturation are rare. Only a few, if any, have attempted to address client discomfort and inflammation throughout the process of getting a tattoo. Fewer still, if any, have tried to cope with client pain and inflammation during the procedure itself. Tattoo aftercare is not yet well studied; therefore, far fewer topicals are available today than in years past. Full Story HERE
10.- White House Affirms Brittney Griner Is ‘Wrongfully Detained’ After Guilty Plea In Russian Cannabis Case, Prompting Calls For Domestic Reform Some people questioned whether Griner’s guilty plea to a 10-year prison sentence would change the State Department's earlier opinion of the athlete as a wrongfully detained American national. However, White House Press Secretary Karine Jean-Pierre clarified at Thursday's briefing that the U.S.' stance has not wavered. "We believe that the Russian Federation has wrongfully detained Brittney Griner, and she is in intolerable circumstances right now,” Jean-Pierre said. “We are going to do everything that we can—the president has this top of mind—to ensure that we get Brittney home safely.” Full Story HERE
Here are the ten most pressing cannabis industry news stories from last month that you don't want to miss. And while you're at it, be sure to check out our store BDDWholesale.com for all your wholesale needs! We've got everything from water pipes and rolling tools to 710 gear and more!
Thanks for reading, and we'll see you next month with more industry news.