News from: Weedmaps, Congress, Hemp Roundtable, OSHA and more.
The Daily Hit is a recap of the top financial news stories for Wednesday, September 25, 2024.
On the Site
Weedmaps to pay SEC $1.5 million for ‘misleading’ statements on user numbers
The SEC charged that Weedmaps executives padded the user stats to bolster its apparent performance to investors.
Congress introduces bill to create pathway for hemp products, cannabinoids
The FDA would be tasked with developing regulatory details and specific product safety rules if the legislation passes.
OSHA offers free help, inspections to Colorado cannabis companies
Colorado cannabis businesses with 250 or fewer employees qualify for the free evaluations.
US Hemp Roundtable, other hemp companies sue California over product ban
The group contends that if the emergency rules are allowed to go into effect, they will effectively ban all ingestible hemp products in the state.
DEI attorney named to New York cannabis regulatory board
Crystal J. Rodriguez-Dabney replaced Adam Perry, who resigned from the board for personal reasons.
Maryland marijuana sales continue to bloom with $100 million in August
Flower continues to dominate as the most popular product category in the state.
In Other News
The Los Angeles County Board of Supervisors approved a motion Tuesday to “deplatform” illegal cannabis dispensaries, seeking their removal from Google, Yelp and other online platforms.
Alabama Cannabis Industry Association
In a lawsuit filed on September 23, Avail Professional Services, along with its CEO, Joseph Dussold, has accused Chey Lindsey Garrigan and her start-up, the Alabama Cannabis Industry Association, of engaging in fraud, misrepresentation and breach of contract over a $15,000 sponsorship agreement.
Utah
Utah’s medical cannabis program is settling in nearly five years since it launched after voters approved Proposition 2, which legalized it in the state. Roughly 80,000 people are considered medical cannabis patients in the state. But local companies say their biggest competitor is still the illicit market.
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