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The Year in Weed: 2023 Edition

The Blunt Truth

We thought the market would expand “quite a bit” in 2023 – well, the “a bit” part was right. And not to ruin the ending, but no retail market will open in 2023. As of now, this is still a proposal, and it’s anyone’s guess if the DEA (who would do the actual re-scheduling) will think that’s a good idea. by a large margin.

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FDA and FTC Target Delta-8 Products

Canna Law Blog

On July 5, 2023, the FDA and FTC jointly announced six cease and desist letters to alleged delta-8 product makers. You can access the letters here. But, there’s a huge controversy about whether it can be controlled, with agencies like the DEA saying it is. You can read more about that issue here or here. 174, 176 n.9

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Oregon County Hemp Moratoriums

Canna Law Blog

Drug Enforcement Agency (DEA) reported that the federalization of hemp would result in hemp shielding criminal activities. The agencies reported that 58% of the samples taken in this effort tested positive for unlawful levels of THC and uncovered illegal water diversion from rivers and creeks as well as exploitation of immigrant laborers.

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Empire State Cannabis Update: CCB Makes Progress In Hemp Program & Chair Hints At Adult-Use Timeline

Cannabis Law Report

As described by the FDA : “Delta-8 THC has psychoactive and intoxicating effects, similar to Delta-9 THC (i.e., ” Delta-8 is said to produce a “milder high” due to weaker chemical bonds than Delta-9-THC. the component responsible for the ‘high’ people may experience from using cannabis).”

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Canopy Growth posts CA$1.7 billion annual loss

Cannabis Law Report

In Beverages, The Company launched a portfolio of THC beverages in the Canadian recreational cannabis market during FY 2021, capturing 35% dollar share of the total beverage category during the full year. A replay will be accessible by webcast until 11:59 PM ET on August 30, 2021 at: [link]. In Edibles, the Company launched Twd.

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Canopy Growth Reports First Quarter Fiscal 2022 Financial Results – The John Bonham Of Cannabis?

Cannabis Law Report

“We’re continuing to drive cost savings and operational efficiencies across the company, and remain broadly on track to our target of $150 – $200 million in fiscal 2022- fiscal 2023,” added Mike Lee , CFO. “We THC market in advance of federal permissibility. First Quarter Fiscal 2022 Financial Summary.

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