null
​How Will the Ever-Changing Cannabis Legal Landscape Impact the Future of Our Industry?

​How Will the Ever-Changing Cannabis Legal Landscape Impact the Future of Our Industry?

12th Jul 2024

The cannabis industry has evolved at a rapid pace over the last decade, directly as a result of evolving laws surrounding both hemp and marijuana. In such a short period of time, we’ve seen the developments of new cultivation techniques, high-tech production methods, improved standards for safety and quality, and more accessibility to the cannabis products that we crave, for both recreational and medicinal purposes.

Nowadays, cannabis-related laws are changing faster than ever, and it can be hard for the average consumer to even keep up, all while those in the industry must constantly stay abreast of any changes in legislation, adjusting their processes accordingly. So, we want to go into a bit more detail on the subject, examining the ways in which changing legalization will continue to impact the future of the cannabis industry, from both a consumer and business standpoint.

The Current State of Cannabis in the United States

In the U.S,, cannabis laws of today are unrecognizable to those of just 20 years ago. A sweeping shift in public attitudes toward cannabis has been evident in the thriving markets for both hemp, and for marijuana, the latter applying to states in which it’s been legalized.

Essentially, it all began with the legalization of medical marijuana, with California being the first state to legalize it in 1998. This led to more states adopting similar legislation, and today, 38 states in total, plus 3 territories and the District of Columbia, maintain medical marijuana programs for qualifying patients in their state.

The emergence of medical marijuana in the US was the first catalyst for more lenient cannabis laws throughout the entire country. That’s because it forced us to see cannabis beyond its association as nothing more than a recreational drug, with a reputation for making people lazy. And, as more states legalized cannabis for medicinal purposes, state legislators began asking themselves honest questions about historically restrictive cannabis laws, leading to states finally beginning to legalize it for recreational purposes as well.

Simultaneously, the industrial hemp plant has been given its fair share of credit, as a nonintoxicating but highly valuable form of cannabis that grows just as easily in the United States, and contains as rich a selection of cannabinoids, terpenes, and other potentially beneficial chemical compounds. Hemp was finally legalized in 2018, with the law stating that all hemp derivatives may be sold legally as long as they contain a maximum of 0.3% delta 9 THC by dry weight.

Currently, 24 states, plus Guam and Washington, D.C., have legalized recreational, adult-use cannabis. And, that number is destined to grow as more and more legislators are pushing for legal cannabis in their states. At the same time, serious conversations are happening about the criminal status of marijuana on a federal level, with the DEA aiming to reclassify its status very soon, and there are even hints of full legalization within the next few years.

How Will More Restrictive Cannabis Laws Affect the Industry By at Large?

Despite the very positive shift in cannabis legalization in the country, the reality is that in many states, it remains illegal (that is, marijuana), and it’s still prohibited on a federal level. At the same time, a number of states have restricted certain hemp-derived products – specifically, certain product types (edibles, flower, etc.), or those containing high concentrations of intoxicating cannabinoids like delta 8 THC, HHC, and delta 10 THC.

Aside from the obvious fact that restricting sales of certain cannabis products prohibits business’ ability to expand their catalogs, it also means that those in the cannabis industry in the US feel unsure about where they stand at any given time. Laws regarding both hemp and marijuana are changing so rapidly and drastically, primarily on a state level, that it can be hard for businesses to keep up. A business that didn’t catch wind that a certain state, for example, began prohibiting THCA products, could end up getting into legal trouble for selling said products to consumers. At the same time, distributors and retailers may invest a lot of money into a new product, only for it to become illegal a month later, resulting in a loss.

How Have State and Federal Legalization Helped the Industry Evolve?

Getting back to a more optimistic note, changes in legalization have, by and large, been a massive success for those who are part of the industry. Naturally, legalization has created many, many jobs throughout the country, from cultivators to marketers, and has allowed businesses to see incredible profits off of products that were formerly strictly available on the black market.

Of course, this has led to a more positive perception of the plant as well, and this has been a huge deal in all kinds of ways. By legitimizing cannabis, medical researchers have taken a keener interest in its potential, which has resulted in the funding for studies, which have led to huge discoveries regarding the more medicinal side of the plant. And, the increase in profitability has led to all kinds of improvements in the industry from a consumer perspective, such as:

  • The development of new products like cannabis vapes, edibles, concentrates, etc.
  • The development of new breeding methods has culminated in an incredible variety of strains that can meet more precise needs, and also produce more reliable phenotypes.
  • The establishment of an online marketplace for hemp products, which has brought convenience to the process of purchasing cannabis.
  • Stricter industry standards due to federal and state regulations, which has allowed consumers to trust the market as they know they’re purchasing products that are made under strict standards for safety and quality.

The Future of Cannabis Legalization and What That Means for the Marketplace

So, what does the future hold for the cannabis market? Well, that all depends, as cannabis laws can change at any time. But, given the clear trends over the last few years, we’re confident that cannabis laws, both in terms of hemp and marijuana, are going to continue to become more relaxed in the coming years, federally and on a state level.

Of course, what that means is that we can expect to see an even more diverse variety of products hitting the marketplace, combined with strict standards for effectiveness, quality, and safety. As laws begin to relax, more businesses will establish, which will create even more competition. As a result, we’re going to see some pretty exceptional products hitting shelves in the near future.

Final Thoughts

Clearly, cannabis offers tremendous value to consumers, whether they’re seeking out medicinal or recreational effects from the plant. And, the laws keep changing, mostly in favor of cannabis. Still, some states are restrictive of certain hemp derivatives, which means that for the time-being, those seeking out certain hemp-derived cannabinoids are at a disadvantage - something that we hope will change as time goes on.

In the meantime, you can enjoy the convenience of buying top-shelf hemp products at PureRemedies CBD either online or in person at our Charlotte, NC location. Our products utilize the latest technology and research to provide customers with the highly effective and high-quality hemp formulas that they deserve, with loads of great products to choose from.