Insights, Alerts

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Cannabis Industry News

Insights, Alerts & Trends | Cannabis IATs Cannabis IATs  SEPTEMBER 22

Cannabis Industry News

Cannabis Industry News: Federal marijuana clemency, saturated markets and more

POLITICAL:

The Biden administration is asking hundreds of people in home confinement for federal drug convictions to fill out clemency applications. This is the first step toward keeping some of those who were moved out of prisons during the pandemic from having to go back at all.

ECONOMIC:

California cannabis farmers are struggling to stay afloat in a saturated market where price per pound has plummeted. This may become an issue across the United States as consequences of the “green rush” begin to manifest.

SOCIAL:

A recent survey found that marijuana use among college students in 2020 reached its highest levels in 35 years. Simultaneously, reported alcohol and tobacco use declined.

PROFESSIONAL DEVELOPMENT:

Employees are leaving or planning on leaving in swarms, with reasons ranging from burnout to return-to-work conflicts. Inc. has more.

LEGAL:

The Journal of the American Medical Association analyzed almost 30 years of survey data and found that legalizing recreational use of marijuana is not associated with an increase in teen use. In fact, it leads to a decline.

ENVIRONMENTAL:

A new study published on PLoS One found that illegal cannabis farming threatens endangered species through pesticide use and destruction of habitat.

TECHNOLOGY:

Though the spotlight has been on larger mainstream organizations, cannabis companies are at risk for ransomware attacks. The perceptions that cannabis businesses have high cash flow and typically have weak IT departments contributes to this vulnerability.