CANNABIS News Briefs..........
12 states have published aggressively-hopeful rules for social equity programs-- all aimed at boosting new opportunities for selected applicants, and for pushing new community projects to "impacted communities." While promised future programs to send millions per year into "War on Drugs" communities -- and help deliver MJ licenses to "people of color, women, veterans" (and sometimes LGBTQ applicants)--- it may be years before true impacts are felt. Virtually all states desire expungements (automatic or easy-access) for low-possession MJ-offenses, there is major logjam issues surrounding seed funding, micro-business loans, grants or other assistance in the licensing process. The Denver sponsored "Social Equity Fair" Oct. 16th brought 200 interested possible new applicants who visited tabletops from 20 private and government support programs. "Our goal was to get social equity applicants get info about city and state licensing requirements, potential funding avenues with a new program about to be launched by the state," said Denver Licensing's Eric Escudero. However, with an initial June deadline, the new social equity program for Denver has only issued eight licenses--all for delivery transporters. Five applications for new Denver retail stores are pending, but no applications have been submitted by any firm for Denver's new cultivation, infused products, research or lab licenses.
Here is a short list of key studies examining the Social Equity area:
Hispanic Participation in the Cannabis Industry --- from the National Hispanic Cannabis Council https://bit.ly/3aCs07s
MJBiz Study: "Women and Minorities in Cannabis" https://bit.ly3AnuVvc
National Association of Cannabis Businesses-- https://www.nacb.com/news-and-insights
Seeds of Change -- Social Justice in MJ-- by Leafly https://bit.ly3DtXekm
Better CBD Sales Ahead?: A report from Meticulous Research projected that the CBD-infused products market is expected to grow at a CAGR of 45.6% from 2021 to 2028 to reach $216.8 billion by 2028. The report said, "The COVID-19 pandemic has severely impacted many economies around the globe. As a measure to control the spread of this disease and avoid its associated consequences, governments across the globe announced partial or complete lockdowns, majorly impacting many industries, but the cannabis industry is having a breakthrough moment. Since it is beneficial for COVID-19 respiratory effects, thus state and local governments are gradually accepting the value and benefits of medicinal cannabis. Thus, this factor is expected to boost the demand for CBD-infused products." Researchers call CBD "an attractive option for people spending more time at home, both as a means of entertainment and to reduce stress and anxiety. As a result, CBD-infused product sales are soaring, ultimately driving the growth of the CBD-infused products market. Also, legalizing recreational cannabis in various countries, escalating demand for CBD-infused wellness drinks, increasing disposable income of the consumers." said Meticulous.
Leading U.S. cannabis economics firm, Whitney Economics, is collaborating with West420 News Weekly to conduct a national survey of businesses and stakeholders the U.S. cannabis industry. Below, please find a link to the Survey of U.S. Cannabis Industry Sentiment and Business Conditions. It examines the key issues facing the industry including what you are experiencing when doing business in the industry. The survey seeks to investigate what is working and what can be improved from the perspective of businesses and stakeholders in the cannabis industry. The goal of the survey is to tabulate ancillary business and cannabis operator opinions on the state of the U.S. cannabis market. Responses are CONFIDENTIAL and will be kept ANONYMOUS.
Your participation and insights will help policy makers understand the issues that face the industry from your perspective. The survey takes between 4 – 5 minutes to complete. Please take the survey at:
Unjust laws remain on the global scene: The United Arab Emirates have a zero tolerance for THC, revealed in a 25-year sentence handed to a British citizen for possession of CBD vape oil. After moving to Dubai last January, soccer coach Billy Hood, 25, continued his CBD use, legal in Britain, but the trace THC was enough to receive a quarter-century sentence. "The conditions here are shocking... I still don't have a mattress," Hood told his mother in a phone call filmed by ITV News.