MJBizCon kicks off in Las Vegas amid economic turmoil, hopes of marijuana reform

Staff Writer
December 14, 2022.

MJBizCon attendees pick up their badges Tuesday for the 11th edition of the nation’s largest cannabis industry conference. (Photo by Alicia Fresquez)

MJBizCon, the oldest and largest trade show in the cannabis industry, officially opens Wednesday amid growing economic challenges and renewed hope that federal marijuana reform will help the industry in the wake of this month’s midterm elections.

Now in its 11^th year, MJBizCon runs through Friday and features more than 1,400 exhibitors, 70-plus hours of educational content and 180 speakers.

More than 380 exhibiting companies are new to the showcase this year.

The expo hall, the largest in MJBizCon history, spans nearly 280,000 square feet on two floors of the Las Vegas Convention Center’s South Hall.

It’s where tens of thousands of cannabis industry professionals will convene for networking, startup funding, strategic partnerships, insights on regulatory reform and the political landscape and other topics.

This year’s event arrives amid another critical juncture for the industry.

Cannabis companies, like others in mainstream sectors, are laying off workers and implementing other cost-cutting measures as prices for wholesale marijuana fall and recessionary concerns rise.

Meanwhile, the Biden administration has set in motion a process that could lead to revolutionary changes for federal marijuana policy.

The midterm elections, which often highlight the nation’s political polarities, provided a mixed bag of results on the marijuana front.

Among the many changes this year at MJBizCon, a new design divides the exhibition floor space into four distinct pavilions to help attendees find what they need:

Cultivation products and services.
Processing, packaging and lab services.
Retail and dispensary.
Business services.

“We can’t wait for everyone to see what’s new at MJBizCon – new exhibitors, a reorganized show floor, an outdoor patio,” said Jess Tyler, MJBiz’s senior vice president for events and sales.

“We really upped the experience this year.”

In a Wednesday highlight,

MJBiz CEO Chris Walsh

delivered his “State of the Industry and Predictions for 2023” in which he outlines the cannabis business environment and opportunities for future growth.

Other topics featured at the conference will include the recent elections, mature and emerging market difficulties and opportunities, strategies to overcome current headwinds and whether federal reform, particularly the passage of SAFE Banking Plus, is gaining momentum.

The main stage on Wednesday will feature in-depth discussions with cannabis industry leaders and successful mainstream executives.

Highlights include:

A fireside chat with Cookies co-founder and CEO Berner, an expert on branding and global expansion in the cannabis industry. The rapper, who recently sat down with MJBizDaily for a Q&A, will discuss how he and his brand have become influential.
Insights from Rhonda Kallman, a trailblazer in the alcoholic beverage industry with decades of business, branding and marketing expertise. Kallman, who was recently the subject of an MJBizDaily Q&A, founded the Boston Beer Co., producer of Sam Adams, and now runs Boston Harbor Distillery.
A “power panel” of cannabis business leaders including Wana Brands co-founder and CEO Nancy Whiteman; Ruben Lindo, founder of Blak Mar Farms; The Parent Co. CEO Troy Datcher; Toi Hutchison, president and CEO of Marijuana Policy Project; and Acreage Holdings CEO Peter Caldini.

Additional experiential exhibits include the return of the Hall of Flowers Experience at MJBizCon, First-Timers Open House, Innovations Product Showcase and the Exhibitor Spotlight Theater.

MJBizCon has also partnered with CannaVest to host the CannaVest Institutional Investment Conference for institutional and accredited industry investors.

Other notable breakout sessions off the main stage include:

Strengthening Social Equity in Cannabis Through Strategic Partnerships.
Deliver on Your Brand: Creating a Sustainable and Competitive Retail Experience.
Old Market, New Revenue: How U.S. Players are Finding Opportunity in Canada’s Cannabis Market.
Cannabis Investing Trends: How to Stay Ahead of the Curve.

MJBizCon also features a new scholarship program, pop-ups from Women Grow and Black Cannabis Magazine

, and networking events focused on women and Black entrepreneurs as well as other people of color. The MJBiz app and signage help attendees find women- and BIPOC-owned businesses on the expo floor.

Attendees can convene at one of two lounges, The Joint (first floor) and Elevation (second floor), to hydrate, plug in or meet up.

They can also visit The Patio at MJBizCon, a newly added outdoor gathering space to unwind, get fresh air or check out some cool experiences, including a 360 photo booth, yard games, DJs, drink options and food trucks.

The conference has a soft kickoff Tuesday with six preshow forums at the Westgate Las Vegas hotel, next to the Convention Center:

MJBizFinance Forum.
MJBiz Hemp + CBD Forum.
MJBiz Marketing Forum.
MJBizScience Symposium.
reMind Psychedelics Business Forum.
Associations Day.

More information, including registration details, speakers and session topics, is available here. Online registration remains open all week.

Chris Casacchia can be reached at chris.casacchia@mjbizdaily.com.

Thank you for consideration.

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DEA Announces How Much Marijuana, MDMA, Psilocyn, LSD, Mescaline, 5-MeO-DMT, MDA, 2-CB Can Be Produced For Research In 2023

Story by Lara Goldstein

The DEA has shared its final production quotas for research drugs for 2023 and is now aiming for further manufacturing goals of several psychedelic compounds than the already substantial increases regarding 2022 initially proposed, reported Marijuana Moment.

DEA Announces How Much Marijuana, MDMA, Psilocyn, LSD, Mescaline, 5-MeO-DMT, MDA, 2-CB Can Be Produced For Research In 2023© Provided by Benzinga

The compounds include marijuana, MDMA, psilocyn, LSD, mescaline, 5-MeO-DMT, MDA, and 2-CB.

The agency stated that it is “committed to ensuring an adequate and uninterrupted supply of controlled substances in order to meet the estimated legitimate medical, scientific, research, and industrial needs of the U.S., for lawful export requirements, and for the establishment and maintenance of reserve stocks.”

As such, 2023’s production quota numbers for psilocyn would go from the original 8,000 grams to 12,000 grams, 5-MeO-DMT from 6,000 to 11,000, MDMA from 8,200 to 12,000 grams, MDA from 200 to 12,000 grams, and 2-CB from 25 to 5,100 grams.

In the case of marijuana, the DEA suggested the production of 6.7 million grams -or 14,770 pounds- for medical and scientific purposes, more than double that of 2022. Licensed cultivators can now apply to become federal marijuana suppliers under the National Institute on Drug Abuse (NIDA.)

Several companies have already made recommendations to raise DEA’s 2023 proposed quotas in view of pre-clinical and clinical research particularly for PTSD, TRD, schizophrenia and anxiety.

The proposal also received a comment regarding the creation of “diversified categories” for production and research on psilocybin-containing fungi fruiting bodies/sclerotia/liquid culture similar to cannabis (flower), fruiting body extract (akin to cannabis extract), and psilocybin and psilocyn separately as purified compounds (akin to delta-9-THC), as well as applying that same system for mescaline and other plants, fungi and lifeforms producing these compounds.

But the agency replied stating that the suggestions “do not impact the analysis involved in establishing” the production quotas for each substance.

Nonetheless, the DEA seems to be listening to what is taking place in the psychedelics space, as it has recently backed down on banning two psychedelic compounds claimed to have scientific value as well as a separate project to list five tryptamines as Schedule I substances.

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Maryland and Missouri.

Alaska, Now Lighting Up

Adults 21 and over can light up in Alaska. In 2015, the northernmost US state made it legal for residents to use, possess, and transport up to an ounce of marijuana — roughly a sandwich bag full — for recreational use. The first pot shop opened for business in 2016.

Alaska has pounced on the opportunity to make its recreational-pot shops a destination for tourists. More than 2 million people visit Alaska annually and spend $2 billion.

Tuesday was a good day for stoners in Maryland and Missouri, as voters approved legalizing recreational marijuana in both places. The two states, which had already legalized medical use, join 19 other states (and D.C.) in making recreational use legal.

In Maryland, there’s a bit of a transitional period (which the Associated Press runs through here). Adult recreational marijuana use will not be legal officially until July 1, 2023, pending the General Assembly passing laws about how to appropriately distribute, regulate, and tax the plant. The Washington Post also notes that effective July 1, adults can grow up “up to two cannabis plants in their home, out of the public view.”

Past marijuana charges in Maryland will also be expunged, thanks to a companion bill passed in the spring that included both a provision to automatically expunge all cases in which possession was the sole charge. It will also allow individuals incarcerated for possession to petition for resentencing. At the time, many local politicians criticized the bill, emphasizing it would do little to nothing to prevent and reduce racial disparities and arrests in marijuana possession.

Bud was on the ballot in three other states. Voters in North Dakota, South Dakota, and Arkansas said no to the drug.

In other news, Coloradans voted on the decriminalization and regulation of psychedelic mushrooms. It’s still too close to call—with 80 percent of votes counted as of this writing, decriminalization leads 51-49 percent. Colorado would be the second state after Oregon to do so. One could say the state is leaning [looks up the color of magic mushrooms] brown?

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Los Angeles, California USA October 4, 2021 – Cannabis Global, Inc. an innovation-oriented company investing in disruptive cannabis and hemp-related technologies, today announces it has launched a new research initiative to develop methods to infuse food and beverage with psychedelic compounds, such as psilocybin, psilocin, baeocystin, norbaeocystin, aeruginascin, among others, found in many species of mushrooms.

A major component of the program will be the development of new ways to infuse both the psychedelic compounds and fungi components into products to both improve bioavailability and to mask the bitter tastes of the fungus and its components.

“It is an exciting time relative to psychedelics with California beginning to collect signatures toward placing a magic mushroom legalization measure on the 2022 ballot,” commented Arman Tabatabei, chief executive of Cannabis Global.

“This new research program will capitalize on our previous infusion research program where we developed several novel techniques for cannabinoids resulting in the filing of three non-provisional and six provisional patent applications.”

Cannabis Global plans to locate a laboratory within a California jurisdiction that has passed municipal legislation that permits such research.

The Company’s efforts will be strictly for research purposes with the aim to develop techniques for infusions so that commercial activities could commence when legally permissible.

Mr. Tabatabaei continued, “We believe legalization within California of certain psychedelic products is close at hand. It is our aim to leverage what we have learned relative to cannabis food/beverage infusion into a marketable set of technologies relative to psychedelics. It’s our opinion that several of our techniques, in particular relating to our polymeric nanoparticle and emulsion infusions, will likely also apply to this potentially large future marketplace.”

About Provisional Patent Filings Under United States patent law,

a provisional application is a legal document filed in the United States Patent and Trademark Office,

that establishes an early filing date, but does not mature into an issued patent unless the applicant files a regular non-provisional patent application within one year.

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DEA Announces How Much Marijuana, MDMA, Psilocyn, LSD, Mescaline, 5-MeO-DMT, MDA, 2-CB Can Be Produced For Research In 2023

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Maryland and Missouri.

Alaska, Now Lighting Up

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There is a perception that licensed legal cannabis businesses are essentially printing money.

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