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British regulators ban Charlotte’s Web, other CBD products

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Food regulators in the United Kingdom have ordered nearly 100 products containing CBD to be pulled from store shelves in the country over consumer safety fears.

The banned list includes three CBD oil extractions made by Colorado-headquartered Charlotte’s Web label, though thousands more were approved for consumption, Hemp Today reported.

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Though the U.K. is lagging behind the United States and much of Western Europe in allowing citizens to legally access cannabis in some form, the country is still in the midst of a yearslong CBD boom.

That means the British market for CBD – worth as much as $1 billion – is an attractive prospect for hemp growers and manufacturers who have seen their prospects in Canada, the U.S. and elsewhere dwindle.

However, the deluge of hemp-derived products containing the nonintoxicating cannabinoid available across the island are largely unregulated.

Manufacturers wishing to have their products sold

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Marijuana Business Daily

Marijuana tech firm Dutchie appoints new CEO as founders step down

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Bend, Oregon-based marijuana tech company Dutchie has a new CEO, and its co-founders, brothers Ross and Zach Lipson, are stepping down.

According to a news release, Executive Chair Tim Barash will be the company’s new chief executive officer.

Before joining Dutchie, Barash was the chief business officer and chief financial officer at restaurant management software company Toast.

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The release also noted that “Ross and Zach Lipson have departed the company after a long tenure of driving growth, passion, and innovation in the cannabis industry.”

No additional details about the shake-up were provided, and Dutchie did not immediately respond to an MJBizDaily request for comment.

The cannabis retailer software company was valued at $3.75 billion after it raised $350 million in October 2021.

In June 2021, citing a “dramatic market shift,” Dutchie laid off 67 employees.

“The cannabis industry has been through a wild run of

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Total US cannabis supply to top 48.8 million pounds in 2022, report says

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The total amount of cultivated of cannabis – both legal and illegal in all form factors – in the United States will exceed 48.8 million pounds in 2022, marijuana and hemp business research firm Whitney Economics has calculated.

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According to a news release announcing the 2022 U.S. Cannabis Supply Report, Beau Whitney, chief economist at the Portland, Oregon-based research firm, said the total legal cultivation capacity is greater than the entire country’s demand – if 100% of the licensed product is used.

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The report also:

Projects there will be more legal cannabis than illicit cannabis in the country beginning in 2026. Estimates that total legal cannabis sales will reach $29.3 billion by the end of this year and $81.6 billion by 2030.

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Nevada awards 20 provisional licenses for marijuana consumption lounges

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Nevada’s Cannabis Compliance Board handed out 20 provisional licenses for marijuana consumption lounges, including 10 set aside for social equity applicants.

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Both stand-alone lounges and those affiliated with retail stores received licenses, including 10 social equity licensees.

Those 10 are eligible for discounted fees if they have a nonviolent cannabis conviction on their record and live in an underprivileged neighborhood.

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According to Las Vegas TV station KLAS, almost all of the 20 licenses went to companies in Las Vegas and unincorporated Clark County.

Nevada regulators approved consumption lounges in June, and an estimated 60-65 licenses will be issued.

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