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Cannabis Industry News March 21, 2023

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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 every week for your regular update on the biggest cannabis news.

Potency Testing Raises Concern About Canadian Cannabis Label Accuracy

The cannabis industry in Canada is currently facing an increase in reports of mislabeled THC products. Experts and advocates are taking the moment to discuss different ways to address inaccurate labeling and dishonesty in the industry. 

The sampled products in question were all cannabis flower and were taken from a wide range of different growers. Of the 46 products sampled, the THC levels were all between 9 and 48 percent lower than what was stated on the label.  

The industry has long faced an uphill battle with regard to labs that report inaccurate findings on behalf of their customers. The lack of trust and transparency among consumers and other businesses will continue to grow unless something is done.

Qredible® was designed to combat misinformation, fraudulent lab reports, and dishonesty in the cannabis industry. To learn more about how our technology is sparking a transparency revolution, contact us today.

Kentucky Imposes New Delta-8 Laws

Kentucky is the latest of many states to enact new laws restricting the production of delta-8 THC products. The new laws, which take effect following August 1st, require all delta-8 products to undergo more stringent testing. They will also need to be labeled as per the new regulations and age restrictions.

Kentucky joins other states in bringing heavier regulation for delta-8 this year, including Virginia. While some argue that the new restrictions put the industry in jeopardy, others agree they are necessary for protecting consumer safety. 

Nuggets Dispensary is Detroit’s First Black-Owned Cannabis Retailer

Four years after the city first gave the green light for adult-use cannabis sales, Detroit is finally getting its first black-owned legacy retailer. Nuggets Dispensary obtained a retail license under the city’s social equity program. Doors to the dispensary opened on Saturday

Under Detroit’s social equity program for cannabis businesses, low-income and marginalized business owners can apply for special access. This includes any business owner who was convicted of an offense relating to cannabis before 2018.

The opening of Nuggets Dispensary represents a positive step forward in the diversity and equity of the state’s cannabis industry. Recent reports have found that less than 20 of over 10,000 American cannabis retail locations are black-owned. Social equity programs across the country aim to bridge this gap.

MJBiz Highlights Path Toward Cannabis Industry Gender Inclusivity 

In a critical and moving opinion piece published this week, MJBiz column writers Sarah Bodnar and Summer Westerbur examined the state of gender diversity in the cannabis industry and the steps required to increase the presence of women in C-suite level positions.

Unlike many industries, gender equality in high-level positions has been declining in the cannabis industry in recent years. Where the industry once boasted a percentage of women in C-suite positions that was higher than the national average, recent data from MJBizDaily’s Diversity, Equity & Inclusion in the Cannabis Industry report shows that numbers have dropped by nearly 14% since 2019.

The proposed solution, according to MJBizDaily, is to prioritize women executives for leadership positions, incentivize companies with programs and rewards, facilitate discussions about gender double standards, invest in women-led businesses, and increase women’s access to capital.

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

In our rapidly changing industry, it’s important to stay in the know with regard to headlines and important events. If you want in-depth cannabis news coverage tailored for you, you’ll find all the resources you need to stay current in Qredible®.

Qredible’s pro subscribers unlock access to a customized stream of the latest industry headlines so they can remain relevant and avoid missing key updates about regulations in their state.

To learn more about Qredible’s premium features and functionalities, set up a discovery call today. And for free updates on cannabis industry news, follow us on LinkedIn and Instagram.

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