The cannabis industry experienced significant changes this week, highlighted by new regulations, corporate earnings, and shifting consumer trends. The Centers for Disease Control and Prevention (CDC) unveiled a federal cannabis strategy, while France took steps to ban raw flower in medical cannabis sales. Additionally, Uruguay appointed a new director for its cannabis regulatory body, indicating ongoing changes in global cannabis policies.
On the business front, High Tide announced record revenue, although it faced concerns regarding profit margins. SNDL achieved break-even free cash flow, even as it struggled in its liquor segment. Meanwhile, Charlotte’s Web continued its expansion into mainstream retail, and Agrify focused on developing THC beverages. Edible Brands launched a new platform, Edibles.com, enhancing its presence in the hemp market. In New Jersey, Herb Haus, supported by Poseidon, is set to open a social equity dispensary.
Consumer habits are also evolving, with recent data showing that three in four young adults are now opting for cannabis over alcohol at least weekly. In a lighter vein, Curaleaf partnered with Fab 5 Freddy to provide training for 175 new cannabis workers. Elon Musk and Senator Ted Cruz also generated buzz with jokes about cannabis during a live broadcast.
The CDC’s cannabis strategy emphasizes a public health approach to cannabis use in the United States. This plan, reported by Green State’s Rachelle Gordon, addresses concerns about increasing THC potency and higher consumption rates, while also recognizing potential benefits of cannabis. The strategy aims to monitor usage trends, expand research opportunities, support healthcare providers, and raise public awareness about cannabis-related issues.
In Europe, France has submitted proposed regulations for medical cannabis to the European Commission, focusing on single-use cartridges and banning raw flower sales. The French government claims that this restriction will help prevent overlap with recreational cannabis use. Critics, however, point out that countries like Germany and the Netherlands allow vaporized flower for medical patients. The new regulations will enable the use of tamper-proof cannabis cartridges, which are designed for quick relief, while imposing stricter controls on cultivation, import, and distribution.
In Uruguay, Martín Rodríguez has been appointed as the new director of the Institute for Regulation and Control of Cannabis (IRCCA). This follows the resignation of Daniel Radío and marks a significant shift in the country’s cannabis leadership. The move highlights Uruguay’s ongoing efforts to adapt its cannabis regulations and governance.
Overall, the cannabis landscape continues to evolve, with regulatory changes, business developments, and shifting consumer preferences shaping the industry’s future.
