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Virginia Republicans move to defund state marijuana regulator

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Republican lawmakers in Virginia want to cut nearly 70% of the Cannabis Control Authority’s budget, a move that creates further uncertainty for the state’s nascent legal marijuana industry.

Under a state spending plan proposed by Virginia’s House Republicans, the budget for the Cannabis Control Authority (CCA) would be slashed by $13.4 million over two years, Richmond TV station WRIC reported Wednesday.

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The budget proposal comes after a Republican-controlled state General Assembly committee killed a bill intended to regulate the state’s impending adult-use marijuana industry.

Virginia has had a limited medical marijuana market since 2020, and adult-use sales were to begin Jan. 1, 2024, under a legalization bill signed into law in 2021 by the state’s former governor, a Democrat.

But new Virginia Gov. Glenn Youngkin, a Republican, appears more focused on regulating products containing intoxicating hemp-derived cannabinoids such as delta-8 THC than implementing a recreational market.

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Cannabis operators strive to get things right as 4/20 approaches

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As more retailers and brands zero in on a strong return on investment for April 20, Weed Week can quickly evolve into a make-or-break scenario for operators.

Perennial concerns over systemwide outages, inventory and workforce management as well as easing in-store and e-commerce traffic typically peak around this time of the year.

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And for good reason.

The days leading up to and including 4/20 are the industry’s busiest sales window.

According to retail management platform Sweed, gross sales jumped 58% from April 15, 2024, to April 21, 2024, while product units sold increased 60% from the previous week.

And conversely, research reviewed by MJBizDaily indicates that, in the days and weeks following 4/20, sales fall dramatically across the board and in markets across

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Return on investment is new 4/20 focus for cannabis retailers, brands

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As the industry, consumers and other enthusiasts prep for another April 20 cannabis celebration, the date is taking on new importance nationwide for advocacy, unity and business.

In marijuana retail, 4/20 is by far the biggest sales day of the year, rivaling the mainstream shopping frenzies of Black Friday or Cyber Monday.

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In response, retail operators and brands are initiating a wide range of promotions, community initiatives and marketing campaigns to drive the best return on investment (ROI), a vital metric given the widespread financial and operational challenges many are facing.

Several retailers across the country, such as Hi! People Cannabis Market, are celebrating their first high holiday.

The Derby, Connecticut, store is holding a block party Saturday night to encourage early purchases

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Are solvents or solventless methods better?

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Extraction consumers seeking high-quality cannabis products are becoming increasingly concerned about how their extracts are made.

Some methods use solvents that critics say can leave behind residual chemicals, while proponents counter that those residuals appear in miniscule and harmless amounts.

Other methods aim for maximum purity and forgo solvents entirely.

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The global cannabis extracts market was valued at $4.3 billion in 2023, according to Grand View Research, a San Francisco-based market research and consulting firm.

It’s projected to grow at a 20% compound annual growth rate to reach $15.5 billion by 2030.

To ensure sustainability and consumer trust in the extraction market, marijuana businesses must pay attention to the process.

The healthiest cannabis extraction methods preserve the plant’s beneficial compounds while minimizing potential

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