How Will HHS Recommendation To The DEA Impact Cannabis Brands? Find Out At This Leading Cannabis Finance Conference

Legislation Milestone: The Cannabis Rescheduling Debate Might Impact Brands

The shifting perception of cannabis in the United States is witnessing a significant turning point.

Once stigmatized as a Schedule I drug, might be on the verge of being reclassified to a potentially more accepted Schedule III status by the Department of Health and Human Services (HHS). This reclassification would signify not only an acknowledgment of cannabis's medicinal benefits but also its distinction from other substances.

This transformation isn't just confined to the realms of policy. Brands, much like the perception of cannabis itself, can undergo significant evolution in how they're positioned in the market. The journey of cannabis from taboo to potential acceptance mirrors the transformative possibilities for brands in an ever-changing marketplace.

From product diversification to innovative branding, the cannabis industry is adapting to emerging consumer preferences and prospective regulatory shifts.

Prominent experts such as Randa McMinn, CMO of WM Technology, Inc. MAPS known as Weedmaps, Patrick Lane, EVP of sales & partnerships at Benzinga and Carlos Pinto, CCO of Leafly Holdings Inc. LFLY, are gearing up for the Benzinga Cannabis Capital Conference in Chicago, a unique opportunity to harness the limitless possibilities of the digital landscape, propelling cannabis brands to new heights of success. 

Related Content: Cannabis Stocks Soar As Gov Health Officials Call On DEA To Reschedule Marijuana: Is Legalization In Sight?

Echoing this sentiment, Patrick Rea, managing director of Poseidon Garden Ventures, stated: “With cannabis moving to Schedule III, the industry expects IRS Code 280E to no longer apply to marijuana businesses, resulting in much lower effective tax rates for businesses across the industry."

This conclave promises a deep dive into the future of cannabis. Mark your calendar for September 27-28.

Related Content: HHS Secretary Confirms It Is Recommending Cannabis Be Rescheduled, Per Biden's Directive

“HHS making the recommendation to reschedule cannabis from Schedule I to Schedule III is a massive step forward and validates the medicinal benefits of marijuana,” Brady Cobb, CEO and founder of Sunburn Cannabis, told exclusively to Benzinga. “The move will also allow for interstate commerce while removing the draconian effects of section 280E of the tax code."

From Traditional Strains to Diverse Products: The Cannabis Evolution

The antiquated binary of sativa versus indica is long gone. Today's cannabis market boasts an array of products tailored for the discerning consumer.

No longer limited to the iconic "pot brownie", edibles now span a gourmet variety from gummies and chocolates to teas and fine-dining experiences, all infused with cannabis. Enhanced culinary methods and innovative flavor combinations allow brands to deliver both delightful taste and efficacy.

Vaping stands out as a modern answer to conventional smoking methods. Cannabis vapes, appreciated for discretion and a purer consumption experience, come in an array of flavors and strengths, catering to both beginners and experts alike.

A spectrum of products, from CBD or THC-infused balms and creams, addressing ailments like inflammation to precisely dosed tinctures, have made their mark. Pioneering entrants also include cannabis-spiked beverages, patches, and rapid-absorb nano-emulsions.

Related Content: Rescheduling Cannabis: What Are The Implications For MSOs, Tax Rule 280E, FDA And Pharma?

If you want to delve deeper into these topics consider joining us at the Benzinga Cannabis Capital Conference in Chicago on September 27-28. All information is available on bzcannabis.com

Image by El Planteo