Category: Cannabis News

Exploring the MJBizCon: A Premier Cannabis Business Conference

Dylan

Exploring the MJBizCon: A Premier Cannabis Business Conference

The cannabis industry has been rapidly evolving, and at the heart of this transformation is the MJBizCon, the world’s largest cannabis business conference and trade show. Held annually, MJBizCon has become an unmissable event for industry professionals, entrepreneurs, and enthusiasts alike. Here’s a look at what makes this conference so special and why it’s worth attending.

What is MJBizCon?

MJBizCon, organized by MJBizDaily, is celebrated for its comprehensive coverage of the cannabis industry. From cultivation to retail, technology to compliance, the conference touches on every aspect of the business. This year’s event is scheduled to take place from December 3-6 at the Las Vegas Convention Center, drawing thousands of attendees from across the globe.

Highlights from MJBizCon

Iconic Speakers and Sessions

One of the standout features of MJBizCon is its impressive lineup of speakers. This year, NBA legend and industry entrepreneur Carmelo Anthony will be a headline speaker. Known for his contributions both on and off the basketball court, Anthony’s insights into the cannabis industry are highly anticipated. The conference offers a plethora of sessions and panels covering various facets of the industry, from cultivation techniques to marketing strategies. View the conference schedule ahead of your visit to take advantage of the experience.

Business Opportunities and Networking

MJBizCon serves as a melting pot for cannabis professionals, providing unparalleled networking opportunities. Attendees can connect with thousands of like-minded individuals, explore potential business partnerships, and stay abreast of the latest trends and innovations. The event also includes an extensive trade show featuring exhibitors from around the world, showcasing cutting-edge products and services.

Social Equity Scholarship Program

In an effort to promote inclusivity, MJBizCon has reintroduced its social equity scholarship program. This initiative offers scholarships to social equity license applicants and license holders, enabling them to attend the conference. It’s a commendable effort to ensure that the industry remains accessible and diverse, providing opportunities to those who have been disproportionately affected by cannabis prohibition.

Industry Trends and Innovations

This year’s MJBizCon promises a wealth of insights into the latest industry trends. For instance, there is a renewed interest among veteran cannabis cultivators in seeds over clones. This shift is driven by the demand for product uniformity while maintaining the traditional affinity for sharing seeds. Additionally, the conference will delve into new opportunities within the industry, such as the burgeoning market for psychedelic therapy, particularly in light of Massachusetts’ potential legalization of psychedelics in November.

Collaborations and New Ventures

MJBizDaily’s partnership with Cultivated Media is another exciting development leading up to MJBizCon. Together, they are working on a cannabis business podcast that promises to offer valuable content for industry professionals. Furthermore, the diversification within the industry is evident with former cannabis executives like Zach Dorsett pivoting to innovative products such as Wonderbags, pre-colonized mycelium substrate kits for mushroom cultivation.

Why Attend MJBizCon?

Attending MJBizCon provides a unique opportunity to immerse yourself in the cannabis industry. Whether you’re a seasoned professional or just starting, the conference offers invaluable resources, knowledge, and connections that can propel your business forward. The combination of high-profile speakers, extensive networking opportunities, and a vast exhibition hall ensures that every attendee leaves with something of value.

Get Involved

With the cannabis industry continuing to grow, MJBizCon remains a pivotal event for anyone involved or interested in the sector. From groundbreaking sessions and networking events to cutting-edge products and services, the conference encapsulates the dynamism and potential of the cannabis industry.

Mark your calendars for December 3-6, and prepare to be a part of the world’s largest cannabis business conference at the Las Vegas Convention Center. For more details and to register, visit MJBizCon.

Leaf Design

New York’s Cannabis Market Poised to Hit $1 Billion in Sales by Year-End

Dylan

 

New York’s legal cannabis industry is making waves, with experts predicting it will reach an astonishing $1 billion in sales by the end of the year with more adult-use licenses. This impressive growth comes on the heels of significant regulatory shifts and growing demand for both recreational and medical cannabis products. But what’s driving this boom, and what does it mean for the state’s economy, cannabis businesses, and cannabis digital marketing?

The Growth of New York’s Cannabis Industry

Since the legalization of adult-use cannabis in New York, the market has experienced a rapid transformation. With a population of nearly 20 million and strong tourism, the demand for cannabis products has soared. According to industry insiders, this surge in consumer interest, coupled with the state’s careful regulatory approach, has set the stage for massive growth. For businesses looking to capitalize on this momentum, partnering with a digital marketing agency that specializes in the cannabis industry is key to staying competitive.

Legal cannabis sales began in earnest in late 2022, and within a year, the industry is on track to hit the $1 billion mark. Dispensaries, edibles, THC-infused beverages, wellness products, and cannabis digital marketing services are some of the segments experiencing unprecedented success.

Impact on New York’s Economy and Job Market

The economic impact of the cannabis market’s growth is significant. In addition to the direct sales of cannabis products, the industry has created thousands of jobs in cultivation, retail, and ancillary services like marketing, compliance, and logistics. A thriving legal market also means tax revenue, with New York projected to generate hundreds of millions of dollars in cannabis taxes, contributing to education, community programs, and public health initiatives.

Moreover, the rise of cannabis businesses has created a ripple effect in supporting industries such as packaging, security, and transportation. New York is quickly becoming a national leader in cannabis, mirroring the successes of states like California and Colorado.

Regulatory Challenges and Market Expansion

While the potential for New York’s cannabis industry is vast, it hasn’t been without challenges. The Office of Cannabis Management (OCM) has been tasked with overseeing a market that must balance strict regulations with growth opportunities. Licensing has been a contentious issue, with delays causing frustration for some operators. However, as the OCM continues to streamline its processes, more dispensaries and growers are coming online, increasing the market’s capacity.

Additionally, the state is prioritizing equity in cannabis, with initiatives aimed at supporting marginalized communities and entrepreneurs. The Cannabis Equity Program, for instance, is designed to ensure that those disproportionately affected by past cannabis prohibition can find a foothold in the legal market.

The Future of Cannabis in New York

As New York heads toward  $1 billion in cannabis sales,  industry experts predict continued expansion in 2025 and beyond. With a focus on innovation, product diversity, and social equity, New York’s cannabis market is poised to remain a significant player on the national stage. Expect to see even more brands entering the scene and a broader acceptance of cannabis as part of mainstream wellness and recreational activities.

For cannabis businesses, partnering with a digital marketing agency is crucial to navigating the ever-evolving New York cannabis landscape and reaching new customers through targeted strategies, innovative campaigns, and effective online presence.

Pre-Rolls Spark Fastest Growth Category in the Cannabis Industry

Dylan

The cannabis industry is witnessing a remarkable trend: pre-rolls have become the fastest-growing product category, showing exceptional growth and consumer demand. According to a recent study by MJBizDaily, pre-roll sales surged by 19% between June 2023 and June 2024, outpacing other cannabis product categories. This article explores why pre-rolls are gaining traction and how the market is evolving to meet the rising demand.

The Convenience Factor Driving Pre-Roll Popularity

One of the primary reasons for the pre-roll boom is the product’s convenience. Pre-rolls offer a ready-to-use solution for cannabis consumers, eliminating the need for grinding or rolling. Whether you’re a seasoned user or a newcomer, pre-rolls provide a quick and hassle-free option. Consumers can simply purchase and enjoy without the extra steps associated with preparing cannabis.

As cannabis consumption becomes more socially accepted and widespread, consumers are increasingly seeking products that fit their fast-paced lifestyles. The convenience of pre-rolls makes them perfect for on-the-go use, social events, or relaxing at home. This ease of use is a significant factor driving the surge in sales.

Diverse Options Fueling Market Expansion

The growth of pre-rolls is not just about convenience; it’s also about variety. Dispensaries and brands have expanded their offerings to include a wide range of pre-roll types, catering to diverse consumer preferences. From classic strains like indica, sativa, and hybrids to infused pre-rolls packed with concentrates for an elevated experience, the market now offers something for everyone.

According to MJBizDaily’s report, pre-roll sales have climbed dramatically, with the most popular being multi-packs and infused varieties. Infused pre-rolls, which combine flowers with concentrates such as kief or live resin, have particularly captured the attention of consumers seeking a more potent experience. Brands are also tapping into the trend of limited-edition collaborations, offering exclusive products that appeal to cannabis enthusiasts looking for something unique.

Impact on the Cannabis Industry and Future Outlook

The rapid growth of pre-rolls has significant implications for the cannabis industry. Dispensaries are increasingly focusing on expanding their pre-roll inventory to meet the rising demand, while brands are investing in product innovation and quality control. This shift highlights the importance of convenience-focused products in the evolving cannabis market.

The future of pre-rolls is bright, with plenty of room for further growth. As brands experiment with new infusion techniques, sustainable packaging, and premium ingredients, consumers can expect even more diversity and innovation in the pre-roll sector. The focus will likely remain on enhancing the user experience while meeting the demand for eco-friendly and high-quality products.

For cannabis businesses looking to capitalize on this trend, working with a digital marketing agency that specializes in cannabis marketing can be a game changer. A professional agency like Seedless Media can help dispensaries and brands leverage marketing automation to maximize their reach and target the growing pre-roll audience effectively. By prioritizing variety, quality, and innovation, brands can ensure they remain competitive in a booming market.

Maine Allowing Dispensaries to Claim Advertising Expenses as Businesses Expenses for Tax Purposes

Maine Allowing Dispensaries to Claim Advertising Expenses as Businesses Expenses for Tax Purposes

Andrew Szafran

Great news for any dispensaries in Maine, you can deduct your marketing expenses starting this year! Other states don’t allow this kind of deduction for any kind of controlled substance, including cannabis. The cannabis industry is one of the few with these restrictions on marketing, and it’s great to see Maine extend a hand to cannabis businesses. If any dispensaries in Maine would like to increase their budgets with this news in mind, you know who to call 👀

Mastercard Clamping Down on Dispensaries

Mastercard Clamping Down on Dispensaries

Andrew Szafran

Mastercard recently issued a warning to banks to not process legal purchases of cannabis from dispensaries and online stores. This means the only way to purchase cannabis from many dispensaries is cash-only purchases, making it harder for dispensaries and consumers to get what they need. Mastercard claims that it cannot process these kinds of purchases because cannabis is not federally legal, this shows how important federal legalization or the passing of something like the SAFE banking Act is integral to legal cannabis businesses. 

Minnesota votes to legalize marijuana as democrats press liberal policies

Minnesota votes to legalize marijuana as democrats press liberal policies

Andrew Szafran

Minnesota’s house and senate recently voted to pass recreational cannabis laws making it legal to purchase and consume recreational cannabis in the state of Minnesota. There are some slight differences between the house and senate bills that need to be resolved before the bill goes to Governor Tim Walz’s desk. Both bills include timelines for opening dispensaries and also for pardoning people currently incarcerated for selling and smoking cannabis, and expunging their records.

Lawmakers reintroduce SAFE Banking Act

Lawmakers reintroduce SAFE Banking Act

Andrew Szafran

A few years back, lawmakers introduced the SAFE banking act and failed to come to an agreement on what cannabis legislation would look like. This year, they’re trying again and are already seeing more promise of the bill being passed. The bill has passed the house and is to be discussed in the Senate. The SAFE banking act creates a pathway to federal legalization of cannabis and would allow dispensaries to own bank accounts, meaning they are less prone to robberies, payment processing is simplified, and they have access to business loans and other programs. The possibility of legalization also opens up the possibility of interstate commerce which would greatly accelerate the development of newer cannabis markets and give some of the older markets a place to sell some of their extra green.