Hey fam! Welcome to the July 2023 edition of our cannabis industry news blog! As every month, we bring to you the 10 most outstanding news stories from the last month that business owners in the industry should know. From new laws to product innovations and more, let’s take a look at what was making headlines last month - and how they could affect your operations. Keep reading for all the latest cannabis news you need to know!
Remember, if you have an interest in the cannabis industry, we don't know, maybe you are a retailer, consumer, or you're just simply curious... So get comfortable and prepare to enjoy a good reading. Let's dive in!
Maryland adult-use marijuana sales eclipse $10 million over July 4 weekend
Exciting news for Maryland! Adults in the Old Line State can now legally engage in the world of cannabis. With a diverse array of products like flowers, edibles, vapes, and more offered by nearly one hundred existing medical marijuana providers, the possibilities are endless for individuals over 21. If you have any questions, rest assured that Maryland officials have diligently worked to ensure a seamless transition to recreational cannabis. Let's embark on this new frontier together! Full Story HERE
Reclaiming Knowledge with New Rituals
Exploring the world of cannabis can be overwhelming for newcomers due to the abundance of information available. However, having a trusted guide can make all the difference. Introducing New Rituals by Lexi Kafkis, a personal resource dedicated to educating and mentoring individuals interested in trying cannabis but unsure of where to start. Full Story HERE
Connecticut Marijuana Sales Reach New High Of $24 Million In June, For Total Of $122 Million In First Six Months Of Recreational Sales
In June, adult-use sales exceeded medical marijuana purchases for the second consecutive month. Notably, 313,510 recreational cannabis products were sold, surpassing the 303,293 medical marijuana products. This indicates a significant achievement in the market. Full Story HERE
Meta Will Now Allow Limited CBD And Hemp Advertising On Apps Like Facebook And Instagram
Meta, the parent company of Facebook, Instagram, and the new social network Threads, has recently updated their cannabis advertising policy. They now permit the promotion of non-ingestible CBD products, with certain limitations. Additionally, they have relaxed the restrictions on hemp ads.
According to a notice issued on Tuesday, the social media conglomerate stated that CBD products containing up to 0.3 percent THC, which falls within the federal definition of legal hemp, are eligible for advertising, subject to specific conditions. This development is certainly noteworthy. Full Story HERE
Dabbling in Dabs: The History of 710
From the hash and honey oil of the hippie era to the diverse range of consistencies available today, concentrates have undergone a remarkable evolution and progress. With advancements in extraction techniques and the growing cannabis culture, these concentrated forms of cannabis have become increasingly popular among enthusiasts and medical users alike. And while the 420 holiday, which celebrates all things cannabis, is widely known, another significant observance has emerged: 710. Full Story HERE
New York Approves Plans to Allow Cannabis ‘Showcases’ & Sales at Public Events
Residents in New York have voted to approve a groundbreaking "cannabis showcase" program, which will now permit growers to publicly showcase and sell their carefully cultivated products at various events, including festivals and other social gatherings. This exciting initiative provides an opportunity for growers to showcase their expertise and products and allows consumers to experience the diverse range of high-quality cannabis offerings firsthand. It is a significant step towards embracing the growing acceptance and recognition of the cannabis industry in New York. Full Story HERE
Maryland Hemp Companies Sue State Officials After Cannabis Regulations Force Them Out of Business
The Maryland Hemp Coalition, along with other organizations, has recently filed a lawsuit asserting that the state's regulations on adult-use cannabis are discriminatory and monopolistic in nature, particularly targeting hemp companies. This legal action seeks to address the alleged inequities and promote a more inclusive and fair cannabis industry in Maryland. Full Story HERE
FTC, FDA ding delta-8 THC brands over ‘deceptive’ child-friendly packaging
The U.S. Federal Trade Commission and the Food and Drug Administration have issued cease-and-desist letters to six companies. These companies have been marketing delta-8 THC products in packaging that closely resembles popular snacks and candies commonly consumed by children. The companies located across the United States are involved in the manufacturing and marketing of products that contain the intoxicating hemp-derived cannabinoid. According to a news release from the FTC on Wednesday, these products resemble well-known brands such as Doritos, Cheetos, and Nerds candy. Full Story HERE
Opinion: Why MSOs should embrace hemp-derived delta-9 THC products
Imagine this: selling real cannabis edibles in traditional grocery, convenience, and liquor stores across dozens of states, completely free from the constraints of local marijuana laws and regulations. It's a game-changing opportunity for cannabis companies to reach millions of consumers who would never enter a marijuana retailer. Surprisingly, the biggest players in the MJ space seem too scared to seize this golden opportunity. What are we talking about? Delta-9 THC products derived from hemp. Brace yourself for a groundbreaking revolution! Full Story HERE
Marijuana Is Linked To An Enhanced ‘Runner’s High’ And Lower Pain During Exercise, New Study Finds
Did you know that a recent study found that marijuana can actually make running more enjoyable and help reduce pain? Researchers at the University of Colorado Boulder surveyed 49 runners and asked them to rate their runs after consuming cannabis and running without it. Pretty interesting, right? Full Story HERE
And there you have it again; we got the chance to see how the cannabis industry is getting more inclusive and adaptable to new trends and necessities for business owners and the community. We're excited to journey with you through these changing times, unveiling the wonders of cannabis consumption trends one month at a time. Stay tuned, stay informed, and, most importantly, stay leafy!
So what are you waiting for? Let's take the chance to expand your market with these new market trends by exploring www.bddwholesale.com, where you'll find an extensive collection of top-notch smoke shop products. We've got everything from trendy grinders to vapes, wraps, and dabs! Take a peek and discover what captures your interest. Your store's next favorite product might be waiting for you!
Thanks for reading, fam! And we'll see you next month with more industry news!