ALEXANDRIA, Va.—Each week, NACS brings you a roundup of news and information on cannabis and CBD to help update you on the fast-moving products and their legality. Here are the topics in the news for the week of November 4 –8:
U.S. Federal Activity
U.S. State and Local Activity
- USDA Issues Final Industrial Hemp Regulations. The U.S. Department of Agriculture (USDA) finalized regulations for farming hemp last week. Under the final rule, which immediately went into effect, states or tribes must submit plans to keep records on hemp-producing land, test the levels of tetrahydrocannabinol (THC), and dispose of plants with high THC levels. Producers must also get a license from the USDA. (Source: Fox Business)
- Schumer Urges FDA to Clarify CBD Regulations. On October 23, Senate Majority Leader Chuck Schumer (D-NY) urged the Food and Drug Administration (FDA) to issue guidance on cannabidiol (CBD) “in a timely manner.” Schumer also led a letter to Acting Commissioner Sharpless on the same issue. (Source: Schumer)
- Mississippi Officials Warn Against CBD Use. The Mississippi Department of Public Safety, Mississippi Bureau of Narcotics and the Mississippi Department of Health on October 23 issued a joint warning on the dangers of products that contain CBD available for purchase in the state. (Source: Mississippi Department of Public Safety, WTVA)
- Ohio sees surge in CBD products. Since CBD was legalized in Ohio, products containing the extract of the hemp plant have grown significantly on retailer shelves. (Source: Youngstown Vindicator)
- When can recreational marijuana finally be bought in Michigan? The conventional answer to that question is probably sometime early in 2020. That's based on the Marijuana Regulatory Agency's stated plan to start taking applications this fall from businesses that already have medical marijuana business licenses. (Source: Detroit Metro Times)
- Report Indicates California’s Marijuana Market Will Soon Have Thousands of Retail Stores. According to a report, “From Dispensaries to Superstores: Opportunities in U.S. Cannabis Retail,” issued by BDS Analytics and ArcView Market Research, local jurisdictions will “get over their qualms in pursuit of tax revenue” and become more likely to approve license applications since California now allows cannabis companies to deliver their product anywhere in the state, regardless of local ordinances. (Source: The Sacramento Bee)
- Northbrook, Illinois, allows recreational marijuana businesses after numerous residents speak at packed meeting. Recreational marijuana businesses will be allowed in Northbrook, Illinois, the village’s Board of Trustees decided unanimously, despite dozens of people speaking out at the meeting against the move. (Source: Chicago Tribune)
- Study Finds CBD as Top Wellness Google Search. In a paper published in the Journal of the American Medical Association, researchers said that an analysis of Google search data from January 2004 to April 2019 showed stagnant results for “CBD” and “cannabidiol”—up until 2014, when searches spiked and continued to grow year over year. (Source: Marijuana Moment)
- U.S. Support for Legal Marijuana Steady in Past Year. Americans' support for legalizing marijuana has held steady at 66% during the past year, after rising 30 percentage points between 2005 and 2018. (Source: Gallup)
- Why Legalizing Marijuana Could Give the U.S. Economy a Big Boost. According to New Frontier Data, there are about 340,000 jobs in the U.S. legal pot market today. That's an increase of more than 30% from last year. The company projects that by 2025, that number will more than double to 743,000. (Source: Motley Fool)
NACS has prepared a fact sheet (for members only) to help you navigate what’s legal and what’s not for CBD retailing. Don’t miss the Federal Cannabis Legislation Tracker covering bills that have been introduced in Congress in 2019 pertaining to marijuana legalization that may affect retailers.
For an in-depth look at the fledgling industry, join NACS on Tuesday, December 10, in Las Vegas for a one-day exclusive pop-up event, “The Future of Cannabis in Retail,” that will give you intel on product ideas and strategies, insights on changing business trends and more. Hear the practical and legal outlook from authorities, while connecting with key players from this burgeoning product category. Seats are limited, so register now to secure your spot.