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News from Weedmaps and Congress, Hemp Roundtables, OSHA, and more.
The Daily Hit is an overview of the top financial stories for Wednesday, 25 September 2024.
On the Site
Weedmaps will pay SEC $1.5M for’misleading statements’ on user numbers
The SEC alleged that Weedmaps executives had inflated the user statistics to boost its apparent performance for investors.
Congress introduces bill for hemp products and cannabinoids
If the legislation passes, the FDA would be responsible for developing regulatory details and product safety rules.
OSHA offers free inspections and help to Colorado cannabis businesses
Colorado cannabis businesses with fewer than 250 employees are eligible for free evaluations.
US Hemp Roundtable and other hemp companies sue California for product ban
The group claims that if emergency rules are allowed in effect, it will effectively ban all hemp products that can be consumed in the state.
DEI attorney appointed to New York Cannabis regulatory board
Crystal J. Rodriguez Dabney replaced Adam Perry who resigned for personal reasons.
Maryland marijuana sales continue to grow with $100 million in August
Flower continues to be the most popular product in the state.
Other News
The Los Angeles County Board of Supervisors voted Tuesday to “deplatform”, or remove, illegal cannabis dispensaries from Google, Yelp, and other online platforms.
Alabama Cannabis Industry Association
In a lawsuit filed September 23, Avail Professional Services and its CEO, Joseph Dussold have accused Chey Lindsay Garrigan, and her start-up company, the Alabama Cannabis Industry Association of fraud, misrepresentation, and breach of contract in relation to a $15,000 sponsoring agreement.
Utah
Utah’s medical marijuana program has been in place for nearly five years, after the voters approved Proposition 2 which legalized cannabis in the state. In Utah, about 80,000 people are classified as medical cannabis patients. Local companies claim that the illicit market is still their biggest competitor.
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