The Biggest Three Things that Happened in the Cannabis Industry
1. Fundraise Launch
Cannapreneur Partners Officially Launches $150M Fundraise for MA-based Cannabis Holding Company
2. Consumer Trends
Cannabis is “America’s Hidden Job Boom,” Reports Indicate
“According to Leafly’s 2019 Cannabis Jobs Count, cannabis directly employs more than 211,000 full-time workers in the U.S… The industry added more than 64,000 jobs last year — a 44% increase — and is expected to create another 20,000 jobs this year in California and Florida alone.”
3. Legislation Update
USDA Issues Clarifications on Legality of Hemp and Status of 2018 Farm Bill.
The USDA has declared that the 2018 Farm Bill is already in effect, despite the fact that the USDA is still actively solidifying regulations for states to set up their own hemp programs. However, businesses will have to wait to plant, harvest, and process hemp plants until the USDA creates regulations for implementing hemp programs and then approves each individual state’s regulatory plans.Additionally, the USDA also said that states must allow hemp to be transported across state lines, even if it means traveling through a state that has not set up laws for hemp production yet.