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Virginia’s retail cannabis market will open on July 1, 2027
The Virginia Cannabis Control Authority (CCA) has released a survey asking for public feedback on future regulations for the Virginia cannabis market.
The surveypublished by the CCA on July 6, allows the public and stakeholders to share their views on operational considerations, regulatory impacts, consumer interests and other factors relevant to the future retail market.
There are several implications marijuana-related bills that became law this yearincluding a passed budget bill that allows for the opening of a retail marijuana market in Virginia on July 1, 2027.
The bills also increased the CCA’s responsibilities and powers, allowing it to develop regulations for marijuana and hemp products, under Release on July 1.
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As new markets mature, concentrates may grow
Every new cannabis market follows a familiar pattern. Consumers start with products they already know. Flower dominates, while vape cartridges and gum are steadily gaining market share. Retailers focus on building inventory, attracting first-time buyers and converting consumers from the illicit market.
Only later do operators begin to ask another question: where does the next wave of growth come from?
Concentrates lag in new markets
According to new report from cannabis education company Higher Function and market survey platform Lit Alerts, one answer may already be in dispensary storefronts.
Cannabis concentrates remain one of the smallest product categories in the industry in many emerging markets, but they may also represent one of the largest untapped business opportunities. The report shows that concentrates make up only 3.3% of legal cannabis sales in New York and 3.7% in New Jersey. In more established markets, including Washington, Colorado, Oregon and Arizona, this category exceeds 10% of sales. As new markets mature, annual concentrate sales can grow from tens of millions of dollars to hundreds of millions.
To read the rest of this article on Forbes, Click here
The case will be heard from June 29 to July 15
The Drug Enforcement Administration is beginning hearings on a proposal to reclassify recreational cannabis under federal drug law. DEA medical cannabis has been transferred in FDA-approved drugs and from state-licensed operators in April, marking the most significant change in US cannabis policy in half a century.
The DEA hearing, scheduled for June 29-July 15, is to consider the agency’s May 21 proposal to move hemp from Schedule I of the federal Controlled Substances Act (CSA) to Schedule III. Such a step would have a significant impact on a regulated adult cannabis industry that would be exempt from punitive tax policies for businesses that sell Schedule I drugs.
Cannabis reform advocates fear exclusion from hearings
Because transfer proposal established by the DEA, the agency will act as an advocate for reform through hearings. As a result, only individuals and groups opposed to relocation will be allowed to testify, which has made many cannabis reform advocates skeptical of the process.
The National Marijuana Law Reform Organization attempted to testify at the hearing arguing that hemp should be excluded from the CSA entirely.
“Marijuana cannot legally remain in Schedule I,” said Joseph A. Bondi, chairman of NORML’s board of directors. statement from the Cannabis Policy Reform Advocacy Group. “But Schedule III is not the end of the road. It is, at most, an interim fix. It does not address the federal government’s failure to recognize legal cannabis users of legal age under state law.”
To read the rest of this article on Forbes, Click here
Pillen did not make a statement about his approval of the rules
Nebraska’s medical cannabis regulations will become a permanent part of the state’s regulatory code on Monday, five days after Nebraska Gov. Jim Pillen gave final approval.
Pillen announced Wednesday that he had signed proposed rulebook from Nebraska Medical Commission on Cannabis. Under state law, the ordinances would take effect five days after the governor’s signature and filing with the Nebraska Secretary of State’s office.
A temporary rulebookidentical to the currently approved version, which will expire on July 15. They will be replaced next week.
Nebraska Attorney General Mike Hilgers, whose responsibility it is to review the proposed rules for legal and constitutional validity, signed regulations for the use of medical cannabis on Tuesday. He said they “do not clearly violate the state constitution or the federal constitution.”
To read the rest of this article on the Nebraska Examiner, Click here
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