MARCH 8-16, 2024

AUSTIN, TEXAS

GROWW.CA

INSIGHTS ​CURATED ​BY

SXSW

SESSIONS

cannabis

Featured Session:

KISS MY GRASS:

Why Women of Color Deserve Better In Weed

Finding Balance:

Your Relationship with Psychoactive Plants

High Style:

Exploring the Influence of Cannabis on Retail

THC for Sale:

How Hemp Crashed the Party

The Highs and Lows of Cannabis Regulation

Cannabis Around the World:

Where are the Big Opportunities?

From Prison to Prosperity:

How Advocacy Can Impact Cannabis

Minor Cannabinoids

Fueling Major Health Breakthroughs

The Bar's New Top Shelf:

Elevation Over Inebriation

Unveiling the Truth of Social Equity in Cannabis

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Why Women of Color Deserve Better in Weed (L-R) Hope Wiseman, Mary Pryor, Rosario Dawson, Hilary Yu, Whitney Beatty | Photo by Melissa Bordeau

Featured Session:

KISS MY GRASS:

Why Women of Color Deserve Better In Weed

Whitney Beatty

Josephine & Billies

Mary Pryor

Kiss My Grass / Media.monks

Hope Wiseman

WISECO

Hilary L. Yu

Our Academy

Rosario Dawson

The Rio Dawn Foundation

PREPARED BY

The Unfiltered Truth:

Black Women Entrepreneurs in Cannabis Speak Out

In an eye-opening panel discussion at SXSW, a group of trailblazing Black women in the cannabis industry laid bare the harsh realities and systemic barriers they face as entrepreneurs.

Despite the hype around the "green rush" and promises of generational wealth, their stories exposed uncomfortable truths about the immense challenges of operating in this nascent yet lucrative industry.

Hope Wiseman, Founder of Mary & Main Medical Cannabis Dispensary pulled no punches: "The illicit market's not going anywhere...The streets are gonna street." The legal market's excessive regulations, crippling taxation, and lack of access to banking compound the hurdles.

As Whitney Beatty of Josephine & Billies put it, "People lie a lot" about their profits and successes.

For these women, underfunding is the Achilles' heel. "I cannot go to the bank and get a traditional loan," lamented Beatty. Industry bias means only 0.0006% of VC funding goes to Black women-led cannabis businesses.

Hillary Yu of Our Academy recounted the "predatory deals" offered to social equity applicants, leaving them undercapitalized from the start.

Their resilience shone through as they shared sobering accounts of overworking, draining life savings, and delaying retirement to stay afloat. Yet their determination to lift others as they climb remains unshaken.

As legalization looms, these entrepreneurs implore investors to reckon with their biases, fund minority entrepreneurs, and embrace innovative business models from diverse founders.

Their clarion call: Amplify their stories, leverage allyship, and create equitable access to capital - because the old ways are doomed to fail in the new cannabis economy.

Key Insights for Cannabis Entrepreneurs

Navigating Market Volatility: Entrepreneurs need to be agile and adaptable to rapidly changing regulations, market demands, and competitive landscapes in the cannabis industry.

Importance of Access to Capital: Access to capital, especially for minority and women entrepreneurs, is a critical barrier. Building relationships with investors and exploring alternative funding sources is vital.

Overcoming Regulatory Challenges: Strict and varying regulations require meticulous compliance to avoid legal issues and optimize business operations.

Featured Session: KISS MY GRASS:

Why Women of Color Deserve Better In Weed

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Cannabis Around the World: Where are the Big Opportunities?

The Global Opportunity for Cannabis: Emerging Markets, Regulations and Brands

As more countries legalize and regulate cannabis for medical and adult use, the global cannabis market is poised for explosive growth outside of North America. A panel of cannabis industry experts convened at SXSW to discuss the emerging opportunities and challenges of operating cannabis businesses internationally.

The Current Global Landscape According to research from BDSA, legal cannabis sales outside of the U.S. and Canada were around $3 billion in 2022, compared to $30 billion in the U.S. alone. However, the total global cannabis market including illicit sales is estimated at nearly $500 billion annually. As federal legalization spreads, the legal global market could reach $70 billion by 2028.

"The future is bright, but getting there is going to be a long and messy process," said Nancy Whiteman, CEO of Wana Brands, a maker of cannabis edibles.

"The vast majority of commercial markets right now are pharmaceutical and medical." Whiteman shared.

While Canada and parts of the U.S. have developed robust adult-use markets, most of the current international activity is focused on the medical cannabis space and supply chain logistics like cultivation and manufacturing. A few markets like Malta, Luxembourg and Switzerland have launched limited adult-use pilot programs.

Navigating Complex Regulations

One of the biggest challenges for companies looking to expand globally is navigating the patchwork of rapidly shifting regulations across different countries and regions.

Key Insights for Cannabis Entrepreneurs

Brands represent the primary global opportunity for U.S. cannabis companies currently due to federal restrictions on exports. U.S. brands can partner with companies in legal cannabis markets abroad to produce and distribute their products.

Establish partnerships and create dialogue between U.S. companies and international entities eyeing the U.S. market long-term. This allows a mutual exchange of expertise and market access.

The future global cannabis leaders have likely not emerged yet. Panelists expect to see large corporations like Altria and pharmaceutical companies play major roles alongside innovative brands.

Cannabis Around the World: Where are the Big Opportunities?

Unlike the U.S., several nations like Switzerland have set up regulatory frameworks that allow for export and import, as well as interstate commerce - critical components still missing from the American cannabis industry.

"If you are aware of global economics and trade routes, you can be quite savvy in the cannabis market and do very well outside the U.S. while you wait for it to wake up and quit its willful ignorance policies," Chris Day of the Global Cannabis Network Collective explained.

The risk of regulatory changes can make international expansion precarious, as demonstrated by Thailand's recent move to repeal its brief legalization of adult-use cannabis. Aligning with established, reputable partners and focusing on markets with clear legal frameworks is key to mitigating those risks.

Branding and Market Opportunities

For cannabis brands based in the U.S. and Canada, exporting products is currently illegal, but companies can leverage their intellectual property by partnering with manufacturers abroad. The emerging medical and recreational markets in Europe are a prime opportunity for North American brands to gain an early foothold.

Switzerland's limited adult-use program is being closely watched as a potential model, thanks to its lack of cannabis taxes, access to banking and focus on sustainable, organic production. Germany is another market with immense potential once it completes its medical cannabis reforms.

Looking ahead, the panel predicted a diversity of global cannabis markets and brands, similar to the alcohol industry with major corporations alongside craft producers. Low-dose cannabis products like edibles and beverages were seen as having particularly broad appeal.

"The easiest opportunity right now is for brands," Whiteman stated. "All that U.S brands can do is work with partners using your IP and having products produced outside the U.S."

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Cannabis Around the World: Where are the Big Opportunities?

"In every state where there is a medical program, opiate deaths are down 33%," noted Cynthia Salarizadeh of ASHA Media Group. "Beverages and edibles will likely be better in these categories versus smoking."

While major players like tobacco, alcohol and pharma are already investing, the panelists emphasized the importance of policies that allow small businesses to thrive as well. The stigma and restrictive marketing regulations have created opportunities for entrepreneurial cannabis brands to find creative ways to build awareness and loyalty through community engagement.

As more nations establish legal cannabis programs, the global cannabis economy promises to be a dynamic, multi-faceted market capturing a wide range of consumer needs and preferences across cultures. For forward-thinking brands willing to navigate the complexities, immense opportunities lie ahead on the international stage.

"I think, overall, the world ignores, for the most part, poor South America, but they are down there doing their thing. And, Colombia, for instance, is exporting some of the best product in the world, so there's a lot of exciting opportunity around the globe right now."

Chris Day,

Global Cannabis Network Collective Cofounder

Key GLOBAL Insights for Cannabis Entrepreneurs

Diverse product formats spanning medical, recreational, cosmetics, foods, beverages and more are anticipated in the global market as it matures. Beverages could be "immensely popular" as an alcohol alternative.

Patient capital and creativity will be required to navigate the complex patchwork of regulations across different countries and markets.

Focus on low-dose formulations tailored to specific needs like sleep, pain relief, etc. rather than just high-potency products as new markets develop.

Partner with reputable companies abroad and be prepared to pull back operations if regulations drastically shift, as seen in Thailand's recent repeal of recreational cannabis.

Finding Balance Your Relationship with Psychoactive Plants

Amanda Reiman

PREPARED BY

Developing a Healthy, Balanced Relationship with Cannabis and Psychedelics

Amanda Reiman, a social scientist with over two decades of experience in the cannabis space, recently gave a thought-provoking presentation at South by Southwest.

She shared her personal journey with cannabis consumption and provided insights on developing a healthy, balanced relationship with psychoactive plants.

Reiman's Early Experiences with Cannabis

Growing up in a conservative community in central Indiana, Reiman received the typical "Just Say No" messaging about drugs through the D.A.R.E. program.

However, when she attended college at the University of Texas at Austin in 1994, she found solace in cannabis, which helped her cope with anxiety and depression. "Cannabis made me not give a shit about not living up to expectations," she recalled.

Throughout her 20s and 30s, Reiman's cannabis consumption escalated, and it became an integral part of her identity. She was known as "the girl who could smoke a shit ton of weed" and still function.

However, in her early 40s, something shifted, and cannabis began causing her anxiety and panic attacks.

The Importance of Balance

Reiman emphasized the significance of balance when it comes to cannabis and psychedelic use.

Regarding cannabis, she explained that our endocannabinoid system (ECS) is a regulatory system that helps maintain various bodily functions, including sleep, mood, and appetite.

Key action items Amanda Reiman recommends for attendees to maintain a healthy relationship with cannabis:

Practice moderation and self-awareness around your consumption patterns and motivations. Pay attention to why you are using cannabis and if your usage is creeping into unintended areas of your life.

Take tolerance breaks regularly, such as 48 hours off per month. This helps reset your endocannabinoid system sensitivity and prevent mindless habits from forming.

Developing a Healthy, Balanced Relationship with Cannabis and Psychedelics

When we flood our system with phytocannabinoids (like THC and CBD) regularly, our ECS takes a backseat, leading to potential imbalances.

With psychedelics, Reiman stressed the importance of maintaining their traditional use as tools for personal growth, insight, and marking special occasions. Overusing psychedelics without intention can strip them of their specialness and lead to using them solely as an escape from reality.

Why Moderation is Difficult

Reiman identified several factors that make moderating cannabis and psychedelic use challenging:

• Lack of education: Historically, drug education has been black-and-white, teaching "all use is abuse" without providing guidance on healthy consumption patterns.

• Scarcity brain: Our brains are wired for survival in a world of scarcity, leading us to stockpile when substances become readily available.

• Lack of negative consequences: For many cannabis users, there are few immediate negative consequences, making it harder for the brain to recognize the need for moderation.

• Boredom: Cannabis is an effective distraction from boredom, a state humans tend to avoid.

Amanda Reiman

Avoid smoking cannabis, as inhaling any hot organic matter into your lungs carries risks. Explore other consumption methods like edibles or vaporizers.

Develop the ability to distinguish between positive reinforcement (using because it feels good) and negative reinforcement (using to avoid feeling bad). Crossing into negative reinforcement can lead to an unhealthy relationship.

Reflect on the messaging you received about drugs growing up, which likely presented a black-and-white "all use is abuse" narrative. Unlearn this binary thinking to redefine what responsible adult cannabis use looks like for you.

Developing a Healthy, Balanced Relationship with Cannabis and Psychedelics

Strategies for Mindful Consumption

Reiman offered several strategies for developing a more mindful and balanced relationship with psychoactive plants:

1. Take a break: Even a short break from cannabis can help reset tolerance levels and re-evaluate consumption habits.
   
2. Reduce dosage: Consuming lower doses or mixing cannabis with non-intoxicating hemp flower can help reduce tolerance and maintain moderation.
   
3. Practice awareness without judgment: Before consuming, take a moment to mindfully consider the intention behind your use, without judging yourself.
   
4. Explore alternative coping mechanisms: Investigate non-substance-related methods for addressing issues like sleep, anxiety, or boredom.
   
5. Cultivate openness: For parents, having open and honest conversations with children about substance use can foster healthier relationships and reduce shame.
   

Reiman's presentation at SXSW encouraged attendees to reflect on their relationships with psychoactive plants and explore ways to cultivate balance, mindfulness, and intentionality in their consumption practices.

.

From Prison to Prosperity: How Advocacy Can Impact Cannabis

On a warm spring day in Austin, Texas, a powerful panel discussion took place at South by Southwest (SXSW), bringing to light the ongoing fight to free those incarcerated for cannabis-related offenses.

The panel, organized by the Last Prisoner Project (LPP), a nonprofit dedicated to seeking the release of cannabis prisoners, featured a diverse group of speakers, including LPP's Director of Strategic Initiatives Jason Ortiz, board members M1 (Mthulu Olobala) and Stephanie Shepherd, and special guest Pharrell Scott, a cannabis prisoner serving a life sentence plus 60 years.

The Panelists' Journeys

The panelists shared their personal journeys, which highlighted the stark injustices of the war on drugs and the disproportionate impact it has had on marginalized communities. Stephanie Shepherd, a former cannabis prisoner herself, received a 10-year mandatory minimum sentence for a first-time, nonviolent offense.

"When I got out and Last Prisoner Project was an organization of people trying to help people and people like me, I said how do I get involved, how can I help?" she said, emphasizing the importance of storytelling and humanizing those impacted by unjust cannabis laws.

M1, a renowned hip-hop artist and activist, shared his experience growing up with a mother incarcerated for 14 years under the draconian Rockefeller drug laws. "I know that if they can lock the moms away, like the ladies away like who you know, I'm sure stand on the right side of history, there's something wrong with the system," he said, underscoring the need for a cultural and societal shift in the way we view cannabis and those impacted by its criminalization.

3 Key Insights for Cannabis Entrepreneurs

Here are some key action items for cannabis entrepreneurs and attendees:

Support organizations like the Last Prisoner Project through donations, amplifying their message, and promoting their initiatives within your businesses and networks. As legal cannabis businesses thrive, it's important to uplift those negatively impacted by criminalization.

Advocate for social equity programs and policies that actively create pathways for those with cannabis convictions to participate in the legal industry through expungement, dedicated licenses, and access to capital/resources. Use your voice and platforms to push for meaningful equity.

From Prison to Prosperity: How Advocacy Can Impact Cannabis

The Fight for Freedom

Jason Ortiz, LPP's Director of Strategic Initiatives, shed light on the organization's multifaceted efforts to secure the release of cannabis prisoners.

"We provide direct legal support for any cannabis prisoner that's currently incarcerated," he explained, adding that LPP also provides financial assistance for commissary funds, family support, and re-entry grants.

Ortiz highlighted the staggering number of cannabis prisoners still incarcerated, with tens of thousands at the state level and over 3,000 at the federal level, despite the increasing legalization of cannabis across the country.

Calls to Action

The panelists issued a rallying call to action, urging attendees to join the fight for cannabis prisoner release through various means, including writing letters of encouragement, signing petitions, and contacting elected officials.

Stephanie Shepherd emphasized the power of personal stories, saying, "If I don't use my experience going through that to let people know what it's like, what good am I?"

M1 echoed the sentiment, stating, "I think that the more we expose people to this is the way that we bring people into this work.

Like you said, it's strategic. We have to be scientific about it. It has to be cultural. We have to be able to put it in all aspects of our lives, from in the school, to our church, to our dance hall."

3 MORE Key Insights for Cannabis Entrepreneurs

Share stories and humanize those incarcerated for cannabis offenses. Storytelling is powerful in shifting perspectives and garnering support for clemency and record clearing. Elevate these voices within your companies and communities.

Attend mobilizations and lobby days like the Last Prisoner Project's national event on 4/20 in D.C. to demonstrate grassroots support and apply public pressure on elected officials to act.

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From Prison to Prosperity: How Advocacy Can Impact Cannabis

A National Mobilization

The panel also highlighted LPP's upcoming national mobilization on April 18th, 2024 (420), where advocates will converge on Washington, D.C., to lobby Congress, hold a vigil at the White House, and demand action from President Biden, who pledged to decriminalize cannabis and release all cannabis prisoners during his campaign.

As the panel drew to a close, the sense of urgency and determination in the room was palpable. The fight to free cannabis prisoners is not just a matter of righting past wrongs; it is a battle for social justice, equity, and the fundamental human rights of those caught in the crosshairs of the failed war on drugs.

Through grassroots activism, advocacy, and a unwavering commitment to amplifying the voices of those impacted, organizations like the Last Prisoner Project are paving the way for a more just and equitable future.

For students, get involved on campus by hosting panels, letter-writing campaigns, or activism efforts to raise awareness among young voters and future policymakers about cannabis injustices.

Encourage cultural influencers like artists and public figures you may work with to use their platforms to draw attention to the issue of cannabis incarceration through music, content, events, etc.

Hold industry events, lobbying efforts, and brand activations to fundraise and raise money to support legal aid, reentry services and grants for those recently released from prison for cannabis offenses.

High Style Exploring the Influence of Cannabis on Retail

The Evolving Intersection of Cannabis, Luxury, and Design

The cannabis industry is poised to be the biggest job creator, tax creator, and revenue generator in the United States.

As more states legalize cannabis for recreational use, the industry is attracting entrepreneurs from other industries, including fashion and food. The traditional stigma associated with cannabis is slowly fading, and a new lifestyle associated with it is emerging.

The cannabis lifestyle is not just about getting high, but about relaxation, wellness, and creativity. It is a lifestyle that is intersectional with other industries, including fashion, food, and entertainment.

Brands that can tap into this lifestyle and create products that appeal to cannabis consumers can potentially reap significant rewards.

However, building a lifestyle company in the cannabis industry is not without its challenges. The industry is highly regulated, and brands must navigate a complex web of laws and regulations that vary from state to state.

Advertising and marketing are also heavily restricted, making it difficult for brands to reach their target audience.

Despite these challenges, some brands have found success by focusing on creating high-quality products and building a strong brand identity.

For example, Edie Parker, a luxury cannabis accessory brand, has found success by creating products that are both functional and fashionable.

The brand's products, which include handbags, clutches, and ashtrays, are designed to appeal to women who want to incorporate cannabis into their lifestyle without sacrificing style.

Edie Parker's success is due in part to the brand's focus on community building. The brand has built a strong following on social media, and has hosted events and collaborations with other brands to reach new audiences.

key takeaways

The cannabis industry is poised to be a major job creator, tax creator, and revenue generator in the United States, and is attracting entrepreneurs from traditional industries like fashion.

The cannabis lifestyle is becoming more mainstream and is associated with relaxation, wellness, and creativity, making it an attractive market for luxury and lifestyle brands.

Building a lifestyle company in the cannabis industry is challenging due to strict regulations, advertising restrictions, and limited access to traditional payment processors and social media platforms.

To overcome these challenges, brands can use accessories as a "Trojan horse" to build brand awareness and consumer familiarity.

High Style Exploring the Influence of Cannabis on Retail

By creating a sense of community around the brand, Edie Parker has been able to build a loyal customer base and establish itself as a leader in the luxury cannabis space.

Other brands have also found success by incorporating cannabis into their products in creative ways.

For example, some fashion brands have launched cannabis-infused clothing lines, while others have created cannabis-themed accessories.

Food brands have also gotten in on the action, creating cannabis-infused edibles and beverages.

As the cannabis industry continues to grow and mature, it is likely that we will see more and more brands entering the space. However, building a successful brand in the cannabis industry will require a deep understanding of the industry and its unique challenges.

Brands that can create high-quality products, build a strong brand identity, and navigate the regulatory landscape will be well positioned to succeed in this new frontier of luxury and lifestyle.

Community building is essential for brands to connect with their consumers, understand their expectations, and iterate their approach based on consumer feedback.

The high barrier to entry in the cannabis industry presents opportunities for brands to capitalize on scarcity and build a loyal customer base.

Luxury in the age of social media is more personal and relationship-driven, and cannabis is no exception.

The intersection of cannabis and luxury is an emerging trend that will continue to grow as federal legalization or decriminalization becomes more likely.

Brands must navigate the complex regulatory landscape of the cannabis industry and be creative in their marketing and advertising efforts.

Building a successful brand in the cannabis industry requires a deep understanding of the industry and its unique challenges, as well as a focus on creating high-quality products and building a strong brand identity.

The Evolving Intersection of Cannabis, Luxury, and Design

Frequently Asked Questions

What are the challenges of building a lifestyle company in the cannabis industry?

Building a lifestyle company in the cannabis industry is not without its challenges. The industry is highly regulated, and brands must navigate a complex web of laws and regulations that vary from state to state. Advertising and marketing are also heavily restricted, making it difficult for brands to reach their target audience.

How can brands overcome these challenges?

Brands must focus on creating high-quality products and building a strong brand identity to overcome these challenges. They must also be creative in their marketing and advertising efforts, and may need to rely on word-of-mouth and community building to reach new audiences.

What is the cannabis lifestyle?

The cannabis lifestyle is not just about getting high, but about relaxation, wellness, and creativity. It is a lifestyle that is intersectional with other industries, including fashion, food, and entertainment.

How can brands tap into the cannabis lifestyle?

Brands can tap into the cannabis lifestyle by creating products that appeal to cannabis consumers and incorporating cannabis into their products in creative ways. They can also build a sense of community around their brand and engage with their customers on social media.

What is the future of the cannabis industry?

The cannabis industry is poised to be the biggest job creator, tax creator, and revenue generator in the United States. As more states legalize cannabis for recreational use, the industry is expected to continue to grow and mature. Brands that can create high-quality products, build a strong brand identity, and navigate the regulatory landscape will be well positioned to succeed in this new frontier of luxury and lifestyle.

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Minor Cannabinoids Fueling Major Health Breakthroughs

David Casarett

Duke Health

Alleh Lindquist

FloraWorks

Mike McCormick

FloraWorks

Pelin Thorogood

Radicle Science

PREPARED BY

Minor Cannabinoids Fueling Major Health Breakthroughs

Unlocking the Potential of Minor Cannabinoids: A New Frontier in Health and Wellness

In a lively panel discussion, experts from the worlds of medicine, chemistry, and cannabinoid research delved into the exciting potential of minor cannabinoids - the lesser-known compounds found in the cannabis plant beyond just THC and CBD.

"The plant has 120 known cannabinoid compounds right now," said Ale Lindquist, CEO of FloraWorks. "The minors, the non-CBD, non-THC compounds, really are a big portfolio to understand and unlock the potential here."

Compounds like CBN, CBG, and THCV are beginning to emerge as having unique therapeutic properties, from improving sleep to neuroprotective effects.

However, the panelists acknowledged the significant challenges in researching these minor cannabinoids. "Cannabis is not really baked into the medical school curriculum, which is really a shame," lamented Dr. David Casarett, a professor of medicine at Duke University. Regulatory hurdles, access to research materials, and the lack of clinical trials have all hampered progress.

But the tide is turning. Panelists described recent breakthroughs, like a double-blind, placebo-controlled study conducted by Radical Science on the effects of CBN on sleep quality. "We were able to show improvement in sleep quality and be able to achieve essentially the first clinical claim for a cannabinoid to improve sleep quality," said Lindquist.

The potential impact of unlocking the secrets of minor cannabinoids is vast. "From a business perspective, we're talking billions and billions of dollars in potential," Lindquist said. But beyond the commercial opportunity, the panelists emphasized the profound implications for human health and wellness.

Key Action Items for Entrepreneurs in the Minor Cannabinoid Space

Deep Dive into Research and Development (R&D

Action: Invest in R&D to explore the therapeutic potential of minor cannabinoids beyond CBD and THC, focusing on compounds like CBG, THCV, and CBN.

Objective: Identify novel applications and therapeutic benefits that can differentiate your products in the market.

Leverage Technology and Data Analytics:

Action: Utilize AI and machine learning to analyze large datasets from clinical trials and real-world evidence.

Objective: Enhance product development and personalization by understanding diverse patient responses and optimizing dosages.

Minor Cannabinoids Fueling Major Health Breakthroughs

"If you can begin to address anxiety and sleep, you can change the lives of billions of people out there," said Dr. Casarett. Potential applications range from neurodegenerative diseases to pain management, offering alternatives to addictive pharmaceuticals.

Crucial to realizing this potential is collaboration across disciplines - bringing together medical professionals, scientists, technologists, and entrepreneurs. "It's just a matter of what people want.

Academics want to share science and businesses want to make money and patients want good drugs," said Mike McCormick, VP of Strategy at FloraWorks.

With the stigma around cannabis fading and new technologies like AI enabling rapid data analysis, the panelists expressed excitement about the future.

"The research here is going to create a whole new generation of therapeutics that are going to disrupt, displace existing, both OTC and pharmaceutical options on the market, with safer treatments, safer alternatives to these other products out there," said Lindquist.

The journey ahead is complex, but the potential rewards are immense. As Dr. Casarett stated, "It's audacious, but I don't think it's crazy to think that what you said could come true." The future of health and wellness may well lie in the untapped potential of minor cannabinoids.

Navigate Regulatory Challenges:

Action: Stay abreast of changing regulations related to cannabis and cannabinoids. Engage with policymakers and regulatory bodies to advocate for favorable changes.

Objective: Ensure compliance and influence policy that supports innovation and research in the cannabinoid space.

Focus on Patient-Centric Solutions:

Action: Incorporate patient feedback and real-world data into product development to address unmet medical needs.

Objective: Develop products that provide tangible benefits to patients, focusing on symptom management and quality of life improvement.

THC for Sale How Hemp Crashed the Party

The Complex Web of Cannabis and Hemp Regulations

As the landscape of cannabis and hemp laws continues to evolve rapidly across the United States, legal experts are grappling with the intricate and often contradictory regulatory frameworks that govern these industries.

At a recent panel discussion, three seasoned cannabis lawyers - Dina Rolman, Lisa Pittman, and Scott Harford - provided insights into the tangled web of state-level medical and recreational cannabis programs, the 2018 Farm Bill's impact on hemp, and the emerging market for intoxicating hemp-derived products.

The panelists explained that despite cannabis remaining federally illegal as a Schedule I controlled substance, over 38 states have legalized it in some form. This has created a patchwork of state-level regulatory regimes, each with its own requirements around cultivation, processing, testing, distribution, and sales.

Rolman, who has operated in 15 different state cannabis markets, described the compliance challenges as "brutal," with states mandating seed-to-sale tracking, strict security protocols, and regular inspections.

In contrast, the 2018 Farm Bill carved out an exception for hemp, defining it as cannabis containing less than 0.3% delta-9 THC by dry weight. This federal legalization of hemp has unleashed a separate ecosystem, with state agriculture departments overseeing hemp cultivation and processing programs that are far less stringent than the THC-heavy cannabis regulations.

However, the panelists noted that the hemp industry has quickly evolved beyond the original intent of the Farm Bill - which was to enable the production of materials like rope, textiles, and CBD - and is now flooded with intoxicating delta-8, delta-10, and THCA products.

"This is as surprising to people like us as when we first walked into a dispensary that was lawful saying Colorado 12 months ago," said Harford. "It's just as jarring to go into a Specs or a Total Wine and see a THC-derived beverage for sale."

3 Key Insights for Cannabis Entrepreneurs

Stay up-to-date on evolving state regulations: Given the patchwork of state-level cannabis laws, it's crucial for entrepreneurs to closely monitor regulatory changes in each market they operate in. Staying compliant with seed-to-sale tracking, security protocols, testing requirements, and other state-specific rules is essential.

Understand the federal-state cannabis dichotomy: Recognize that cannabis remains federally illegal while being legal in various forms across many states. This creates unique compliance challenges that must be carefully navigated.

THC for Sale How Hemp Crashed the Party

The rise of these hemp-derived intoxicants has left state governments scrambling to respond. While some are trying to bring hemp producers up to the standards of the regulated cannabis industry, others are facing legal challenges from hemp advocates who argue that the Farm Bill preempts state restrictions.

Pittman and Rolman agreed that a unified, potency-based regulatory system across both cannabis and hemp would be ideal, rather than the current fragmented approach. With Congress set to revisit the Farm Bill this year and the possibility of cannabis rescheduling on the horizon, the panelists suggested that policymakers have a critical opportunity to bring coherence to this confusing landscape.

Until then, cannabis and hemp companies must navigate an ever-shifting patchwork of state and federal laws - a complexity that has become both a challenge and an opportunity for specialized legal practitioners.

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Differentiate THC-cannabis from hemp-derived products: Clearly delineate between highly regulated state-legal THC cannabis products and the less restricted hemp-derived offerings, including intoxicating hemp derivatives like delta-8 and delta-10. Comply with the relevant rules for each.

Advocate for unified, potency-based regulations: Work with industry groups and policymakers to push for a more coherent, federally-aligned regulatory framework that treats cannabis and hemp based on their THC content, rather than the current fragmented approach.

The Bar's New Top Shelf Elevation Over Inebriation

The Future of Functional Alcohol Substitutes

A panel of experts recently gathered to discuss the growing trend of people seeking alternatives to alcohol for social and recreational purposes. The discussion touched on topics ranging from the cultural and historical context of psychoactive plants, to the complex legal and regulatory landscape around these substances.

Dr. Lisa Offringa, a medical ethnobotanist, highlighted the importance of respecting the origins and traditional uses of plants like kratom, kava, and psychedelics that are now gaining popularity in Western markets. "These plants come from other cultures and their psychoactive use was discovered by those cultures," she noted. "We need to be mindful of conservation, commodification, and the impact our use has on the environments and communities these plants come from."

Colter Merrick, founder of the non-alcoholic bar Elixart, spoke to the social and experiential aspects of these alternatives. He described how plants like kava and kratom can create a sense of connection and well-being without the disinhibition and potential downsides of alcohol.

However, Merrick emphasized the importance of proper preparation and dosage, noting that the "subtle interactions" of these substances can be "the most profound."

Dr. Jacqueline Jacques, a naturopathic physician, addressed the complex issues of safety and addiction potential. While acknowledging the risks, she pointed out that many of these plant-based substances are being researched for their potential to treat addiction to opioids and benzodiazepines. Jacques stressed the need for proper regulation and transparency from companies marketing these products.

3 Key Insights for Cannabis Entrepreneurs

Respect cultural origins and traditional uses: Ensure that any plants or substances used are done so with respect for the communities and cultures they originate from. Engage with those communities and explore benefit-sharing models.

Focus on safety and transparency: Be transparent about manufacturing processes, ingredients, and potential risks. Comply with existing regulations, even if they are imperfect, and work towards improving the regulatory framework.

Emphasize proper preparation and dosing: Educate consumers on the importance of appropriate preparation, dosing, and administration of these substances. Avoid marketing that could encourage unsafe use.

The Bar's New Top Shelf Elevation Over Inebriation

The panelists grappled with the challenges of the current legal framework, which often fails to account for substances that don't fit neatly into the categories of "food," "supplement," or "drug."

Joshua Kappel, an attorney who has worked to legalize stigmatized drugs, noted that this lack of a clear pathway for regulation has led to a proliferation of products in a "legal gray area."

Despite the complexities, the overall tone of the discussion was one of cautious optimism. The panelists expressed hope that as more people, especially younger generations, seek alternatives to alcohol, a new culture and tradition around the responsible use of these substances can emerge. However, they emphasized the need to do so with care, respect, and a commitment to safety and transparency.

As the demand for functional alcohol substitutes continues to grow, this panel discussion highlighted the nuanced issues that must be addressed to ensure these substances are used in a way that benefits individuals and communities, while also respecting their cultural and ecological origins.

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Foster a culture of reverence and intention: Emulate traditional practices that treat these substances with reverence, and encourage consumers to use them with intention and respect, rather than for pure intoxication.

Advocate for regulatory reform: Work with policymakers, industry groups, and other stakeholders to develop a more coherent and flexible regulatory system that can accommodate a wider range of substances and their diverse use cases.

Prioritize sustainability and conservation: Ensure that sourcing and supply chain practices do not lead to the over-harvesting or depletion of important plant species. Invest in cultivation and sustainable harvesting methods.

The Highs and Lows of Cannabis Regulation

The cannabis industry finds itself in a quagmire, navigating a patchwork of state laws and an uncertain federal regulatory framework. A panel of experts at South by Southwest 2024 provided insights into the current state of cannabis regulation and the challenges and opportunities ahead.

Sharon Mayl, a former FDA official, explained the agency's authority over cannabis products under the Food, Drug, and Cosmetic Act. While the 2018 Farm Bill removed hemp from the Controlled Substances Act, FDA still maintains regulatory oversight. Lindenmael noted that the agency's hands are tied by the current statutory structure, which treats cannabis products differently than other consumer goods.

David Vaillencourt of the S3 Collective discussed the need for consistent product standards and quality controls, highlighting the work of ASTM International in developing voluntary consensus standards for the industry. However, Scheril Murray Powell, a cannabis attorney, emphasized the importance of balancing safety standards with accessibility and inclusion for legacy operators and marginalized communities.

Mark Bolton of Jazz Pharmaceuticals provided the pharmaceutical industry perspective, outlining the rigorous drug development and approval process required to bring a cannabis-derived medication to market. He noted that while Epidiolex became the first FDA-approved botanical cannabinoid drug, more pharmaceutical investment is needed to fully unlock the therapeutic potential of cannabis.

The panelists agreed that federal legislative reform is crucial to establishing a viable and sustainable cannabis industry. While incremental steps like the Safe Banking Act may provide some relief, a comprehensive regulatory framework akin to the FDA's oversight of other consumer products is seen as the long-term solution.

However, crafting such legislation is a complex task, requiring careful consideration of issues such as social equity, traditional and indigenous use, and the burgeoning hemp and "intoxicating hemp" markets.

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3 Key Insights for Cannabis Entrepreneurs

Stay up-to-date on evolving regulations: Closely monitor developments at the federal, state, and local levels, as the regulatory landscape is constantly shifting. Be prepared to adapt your business model and practices as new laws and standards are implemented.

Prioritize product safety and quality: Proactively adopt voluntary consensus standards like those developed by ASTM International. Invest in robust quality control and testing protocols to ensure the safety and consistency of your products.

Engage with regulatory agencies: Establish open communication channels with agencies like the FDA, DEA, and state/local regulators. Provide feedback and participate in the development of new regulations to ensure the industry's interests are represented.

The Highs and Lows of Cannabis Regulation

As Lindenmael noted, the current statutory structure is a "square peg in a round hole," and progress will depend on lawmakers' willingness to create a new paradigm that balances public health, safety, and industry development.

The panel's discussion highlighted the diverse perspectives and interests at play in the cannabis space, underscoring the need for continued collaboration and dialogue as the industry navigates this evolving landscape.

IN THE PHOTO

Mark Bolton

Jazz Pharmaceuticals

Sharon Mayl

DLA Piper LLP

Scheril Murray Powell, Esq.

SMP Law/Cannabis HR Council

David Vaillencourt

S3 Collective

Consider social equity and inclusion: Explore opportunities to partner with or support legacy operators, minority-owned businesses, and marginalized communities impacted by the war on drugs. Seek to create pathways for these groups to participate in the legal cannabis industry.

Explore alternative pathways for cannabis-based products: In the absence of a clear federal framework, investigate opportunities to bring your products to market through alternative avenues, such as the dietary supplement or cosmetics industries, where applicable.

Invest in research and development: Support clinical trials and real-world evidence studies to build the scientific foundation for the therapeutic use of cannabis. This data can be crucial for navigating the regulatory approval process.

Unveiling the Truth of Social Equity in Cannabis

Dr. Imani Brown

City Of Los Angeles-Department Of Cannabis Regulation

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Unveiling the Truth of Social Equity in Cannabis

Unlocking Equity in the Cannabis Industry: Confronting Systemic Barriers and Empowering Marginalized Communities

In a compelling address, Dr. Imani Brown, the Program Director for the Social Equity Program of the Department of Cannabis Regulation in the City of Los Angeles, delved into the complex history of cannabis in the United States and the pressing need for social equity-centered policies and programs.

Dr. Brown's speech illuminated the deep-rooted systemic racism and anti-immigrant sentiments that have shaped the criminalization of cannabis, leading to disproportionate impacts on marginalized communities.

She highlighted the stark racial disparities in the cannabis industry, with Black and Latino individuals accounting for a mere 1.2-1.7% of business owners despite making up a significant portion of the population incarcerated for non-violent drug offenses.

Addressing the myths surrounding the cannabis industry, Dr. Brown dispelled the notions of abundant funding, high success rates, and readily available support for aspiring entrepreneurs. She emphasized the stark realities faced by equity entrepreneurs, including limited access to capital, compliant real estate, and affordable legal counsel; barriers that have hindered their ability to thrive in the legal cannabis market.

Recognizing the critical role of social equity programs, Dr. Brown detailed the comprehensive initiatives implemented by the Los Angeles Department of Cannabis Regulation.

From providing educational resources and business development support to offering legal assistance and substantial grant funding, the department has positioned itself as a national leader in fostering inclusive growth in the cannabis industry.

Nonetheless, Dr. Brown acknowledged that most regulatory models for social equity programs are "grossly flawed," often setting equity entrepreneurs up for failure.

3 Key Insights for Cannabis Entrepreneurs

Seek out and utilize available social equity resources: Leverage the comprehensive business development services, legal assistance, and grant funding offered by programs like the one led by Dr. Brown in Los Angeles. Identify and take advantage of similar initiatives in your local jurisdiction.

Engage with community organizations and advocacy groups: Participate in neighborhood councils, community groups, and advocacy efforts to support social equity in the cannabis industry. Lend your voice to push for policy changes and reinvestment of cannabis tax revenue.

Unveiling the Truth of Social Equity in Cannabis

She called for comprehensive and proactive measures, including progressive reforms in licensing, financial assistance, and the reinvestment of cannabis tax revenue into the communities most impacted by the failed War on Drugs.

Highlighting the imperative of community engagement and advocacy, Dr. Brown urged attendees to support local equity-centered cannabis businesses, participate in community organizations, and advocate for policy changes at the local, state, and federal levels.

By embracing a holistic approach, she envisioned a future where the cannabis industry serves as a catalyst for positive social change, fostering generational wealth and empowering marginalized communities.

As the cannabis industry continues to evolve, the insights and challenges presented by Dr. Brown serve as a clarion call for a more equitable and inclusive future – one that acknowledges the past, confronts the present, and paves the way for a more just and prosperous tomorrow.

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Support and patronize equity-focused cannabis businesses: Make a conscious effort to identify and support local cannabis retailers and operators that are part of social equity programs. This helps strengthen the ecosystem for marginalized entrepreneurs.

Stay informed and advocate at all levels of government: Follow federal legislation like the MOOR Act and SAFE Banking Act, and understand the implications of policy changes, such as the potential rescheduling of cannabis by the Biden administration. Reach out to local, state, and federal representatives to advocate for equitable reforms.

Collaborate with industry stakeholders and community partners: Foster partnerships between government agencies, businesses, and community organizations to develop comprehensive, proactive measures that address the unique challenges faced by equity entrepreneurs. Collective action can drive meaningful change.

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