Cannabis companies could be caught in the middle as the FDA cracks down on tobacco products using the Electronic Nicotine Delivery Systems (ENDS), as outlined in a recent announcement.
The main concern is that many cannabis oil pens and vapes are similar to tobacco vape products and use the same electronic systems as the ENDS products, potentially putting these products in question as well. Therefore, even though it is a gray area, cannabis business owners are advised to take note.
Although the statement from the FDA does not call out cannabis products specifically, it is expected that companies in the cannabis space will have their products, the cartridges for the products, their delivery systems, and their marketing and advertising methods scrutinized. Also, the lack of uniform cannabis product policies across all of the states may prompt the FDA into action. The beginning of the announcement seems to show that this is a good possibility:
While we recently covered the states of Alabama and Kentucky as they consider passing restrictive medical marijuana legislation, there is a definite national trend as several additional states are also looking to expand their presence via new laws or regulations.
While the main driver behind medical marijuana is the health benefits for many patients within these states, adding medical marijuana programs will create tremendous opportunities for businesses. These opportunities will be in the form of business licenses and ancillary services related to this hot market as well as tax revenue for the states.
The states of Arkansas, Florida, Iowa, Maryland, Minnesota, New Hampshire, New Jersey, and Rhode Island are considering removing license restrictions for cultivators, processors, and dispensaries or adding patient conditions for qualification. Any expansion in these states will continue the steady growth of medical marijuana programs across the USA.
Arkansas recently awarded...
The fourth Cannabis Jobs Report conducted by Leafly revealed incredible employment growth for the legal marijuana industry in 2019.
Over the past twelve months, the industry has added 33,700 new full-time-equivalent (FTE) jobs, which represents a 15% increase year over year! This brings the new total of legal cannabis-related jobs to 243,700 and makes cannabis the fastest-growing industry in the United States!
The top 10 states for employment are California, Colorado, Washington, Oregon, Florida, Arizona, Nevada, Massachusetts, Oklahoma, and Illinois.
While the west coast continues to lead the industry in overall employment opportunities, states such as Oklahoma and Florida are benefiting greatly from medical marijuana.
Florida has more than 300,000 state residents enrolled in the medical marijuana program, making it the country's largest market and supporting its 20,000 plus cannabis-related workers. Oklahoma's medical marijuana market grew 221% in 2019 and was a key driver in...