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Cannabis Industry News: February 1, 2023

Cannabis manufacturers selling cannabis, CBD, and hemp to dispensaries and retailers

The U.S. legalized cannabis, CBD, and hemp industries are rapidly evolving. It’s important to stay on top of changing regulations and shifting landscapes in order to protect and grow your business. That’s why we round up the leading headlines every week to help you stay up-to-date.

Keep reading to see what’s going on in the world of legalized cannabis, CBD, and hemp this week. And check back here for your regular update on the biggest cannabis news.

Tribunal Finds Canadian Cannabis Company SNDL Used Intimidation to Squash Union Efforts

A provincial labor tribunal in Alberta, Canada found that cannabis grower SNDL intimidated workers meeting to discuss unionization. As a result of this action, the company must now pay workers to attend mandatory meetings with the union.

Workers at SNDL, previously called Sundial, were scared to attend the meeting because of two managers who had parked out front of the location. The managers claimed to be interested in what the union could do for them, but a union worker testified that many employees were uncomfortable.

The tribunal rejected the managers’ testimonies and ruled that the actions were consistent with union-busting behavior.

Unionization wins have been sweeping the continent over the past few months, including in the cannabis industry. SNDL’s experience sets an example of how interfering with union efforts can backfire.

Massachusetts Adult-use Cannabis Sales Exceed $4 Billion

Since the launch of Massachusetts’ adult-use cannabis market in November of 2018, the state has surpassed $4 billion in sales. The state has had 265 retail locations and 14 delivery businesses operating over the past four years.

Demand in the state has been consistent, and the expansion of licensed businesses has led to significant growth over the past year. In 2022, the state saw 71 new dispensaries and seven new delivery businesses open.

Cannabis Legalization in Wisconsin Challenges MMJ Progress

Wisconsin lawmaker Robin Vos is halting Democratic Governor Tony Evers’ medical and recreational cannabis legalization plans. Vos believes a medical program should be the primary priority.

Budget is the main concern for Vos—the speaker believes if adult-use cannabis legalization is included before a medical program is established, it could threaten the success of the medical program. 

The Assembly and Senate are both Republican-controlled, so the inclusion of adult-use sales could cause both groups to oppose legalization.

Officials in Virginia Push Two Cannabis Bills Despite Legislature Divide

Virginia legislators are acting to move forward two bills to legalize both medical and adult-use cannabis sales in the state. If passed, the state could see its adult-use market open in 2024 so businesses would be able to take business tax deductions.

The first bill would open the cannabis market on Jan. 1, 2024. The second would qualify cannabis businesses to follow tax regulations under Section 280E of the U.S. tax code. 

The biggest challenge to these efforts is Republican Governor Glenn Youngkin. The governor is on the fence about adding an adult-use market in addition to the state’s existing medical program. His top priority with regard to the issue of cannabis is delta-8 and consumer safety. 

Floridan House Republican Pushes to Reschedule Cannabis From Class 1 to Class 3

For the third time since 2019, Republican representative Greg Steube has reintroduced a bill to reclassify cannabis from Schedule 1 to Schedule 3 in the Controlled Substances Act. 

The move is intended to support cannabis businesses struggling to cope with federal tax responsibilities while also opening the door to more research opportunities. 

President Biden requested that the Department of Health consider the classification of cannabis last fall. 

Steube’s moves to pass this legislation failed in 2019 and 2021.

Stay Up-to-Date With Cannabis News in Qredible®

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