CanniFest September 7 & 8
This year's CanniFest was bigger and better than that of the past, giving hope to local farmers.
State Enforcement
Over $476 million worth of illegal cannabis has been seized between April and June of this year by UCETF. Time will tell if this will help the legal market or not.
More Taxes
Because 15% was not stiff enough for the State, the cannabis excise tax was raised to 19% on July 1st. Although the cannabis industry voiced major concerns that increased taxes would hurt already struggling cannabis business and move people toward illegal avenues, the State moved forward with the tax hike.
Federal Government looking into reclassification of cannabis to Schedule III.
The reclassification will pave the way to cannabis being accepted for medical use. Regulation would come from the FDA and be enforced by the DEA. Individual states would continue to have jurisdiction over recreational cannabis industries.
Top Products on the Market:
Flower is still the most popular product on the market, while concentrates and edibles fill the second and third spots. Pre-rolled joints, however, are finding a steady spot as well. Consumers are enjoying the ease of the "grab and smoke" offered by pre-rolls. Jeeter pre-rolls are ranked #1 in the world.
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