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A Decade of Hemp Innovation: Inspirational Technologies’ Journey and Next Chapter

A Decade of Hemp Innovation: Inspirational Technologies’ Journey and Next Chapter

This is my past, present, and future vision by Steven M. Smith, Founder & CEO of Inspirational Technologies – September 2025 – Over a decade ago, Inspirational Technologies set out to combine natural wellness with advanced science, and now we’re taking a bold leap forward. Founded in 2013 by Steven Smith, our journey began as a small Florida startup with a mission to connect traditional botanical remedies with modern technology. From those modest beginnings, we’ve evolved into a leader in hemp-based innovation, driven by resilience, discovery, and a strong sense of purpose. Today, we’re thrilled to unveil a new chapter for Inspirational Technologies—building on our foundation and embracing the future of hemp and cannabinoids to bring relief to even more people.

2013–2015: Laying the Groundwork

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In the early years (2013–2015), we laid critical groundwork. Steven Smith’s background in plant sciences and passion for holistic health drove the initial focus on researching plant-based compounds, particularly those in hemp and other medicinal herbs. We were essentially a research lab with a big dream: to validate traditional botanical remedies using rigorous modern science. During this time, we established an education hub on our website (InspirationalTech.org) to share research updates and demystify hemp for the public. This proved vital in combating public misconceptions, as many people at the time still conflated hemp with psychoactive cannabis. Indeed, throughout the 20th century, stigma and prohibition had severely complicated cannabis research, and in the early 2010s hemp was legally categorized alongside narcotics despite its lack of THC. Navigating this environment was challenging – regulations were murky, funding was limited, and we often had to explain that hemp isn’t about “getting high,” but about healing. [Frontiers…: from …] [What Does…usinesses?]
Industial Hemp Field
Challenges: Regulatory uncertainty was the toughest hurdle in our infancy. Government rules around cannabis research were ambiguous or restrictive, making it difficult to source materials and secure funding. Public perception was another obstacle; early on, some investors and consumers were wary, not yet educated on the difference between non-intoxicating hemp compounds and marijuana. We tackled these challenges through education and transparency. By openly sharing scientific findings and safety data on our website and in community seminars, we started changing minds.
In 2014, our persistence paid off: we secured our first private investment, providing much-needed R&D capital, and validated our vision to those who believed in the potential of cannabinoids. That same year we launched our website as a content hub, positioning Inspirational Technologies as a trustworthy voice explaining the science of CBD and hemp. This focus on education built credibility and began eroding the stigma.
Successes: Despite the headwinds, by 2015 we had established a solid foundation. We had a small lab, a growing network of academic collaborators, and early data hinting at hemp’s therapeutic promise. For example, our team initiated studies on hemp-derived compounds and their effects on conditions like inflammation and anxiety, drawing on expertise from university partners. These academic collaborations not only guided our research but also validated our early findings in peer-reviewed settings, showing that our work was on the right track. We closed 2015 with optimism – and a budding reputation as pioneers willing to push botanical science into new territory.

2016–2018: Expanding into Hemp and Cannabinoids

By the mid-2010s, cannabidiol (CBD) was gaining mainstream attention as a potential wellness game-changer. Research interest in CBD was exploding worldwide, and public awareness of hemp’s benefits was on the rise. Inspirational Technologies embraced this momentum and shifted focus squarely onto hemp-derived cannabinoids. This period marked our evolution from a general plant research startup into a dedicated hemp innovation company.
Research Milestones: Between 2016 and 2018, we embarked on ambitious studies of CBD’s potential health benefits. Our research teams (now working with medical scientists) explored how CBD could help reduce anxiety, alleviate inflammation, and even act as a neuroprotective agent for the brain. Early results were promising: for instance, preliminary experiments suggested CBD had notable anti-inflammatory effects (supporting what many others were finding), and could modulate stress responses in animal models. We weren’t alone in these discoveries – around this time scientific literature was burgeoning with cannabinoid research. Academic partners working with us published validating findings, adding credibility. The scientific community was confirming what we believed: CBD and related cannabinoids held real therapeutic promise. Notably, evidence began emerging that CBD might provide relief in anxiety without the downsides of THC. (In fact, a few years later a clinical trial would show CBD can quell anxiety symptoms effectively without impairment.) The more data we gathered, the more confident we became that our path was the right one. [CBD shown…e with THC], [CBD shown…e with THC]
Product Development: Research findings quickly fed into product ideas. By 2017, we had developed our first prototypes of CBD-infused wellness products, including a topical cream for pain relief and a tincture (oral drops) for stress and general wellness. Formulating these was an exciting step from lab bench to real-world application. We sourced high-quality hemp extracts and combined them with synergistic herbs, leveraging our roots in botanical science to create unique blends. Each prototype was tested for safety and efficacy in small trials. The feedback from early testers was encouraging – users reported less joint pain after applying the cream, and better sleep with the tincture. This R&D phase taught us about effective dosing, bioavailability (for example, how well the body absorbs CBD in different forms), and user preferences. It set the stage for the full product line we’d launch once the regulatory coast was clear.
Obstacles: If you rewind to 2017, selling a hemp-based product was not straightforward. Federal law still treated hemp extracts in a gray zone, which made distribution and marketing a tricky affair. We could develop products and even give out samples, but large-scale sales were hampered by legal ambiguity. Shipping CBD across state lines lived in a legal limbo – technically hemp was still a Schedule I substance federally, even though it has no high-inducing THC. This meant we had to proceed carefully and focus on states with clear hemp programs. We also had to be very cautious about marketing language, avoiding any medical claims that could draw ire from regulators (the FDA had started warning companies about unproven claims). Yet, we persisted, keeping our operations lean and compliant. We engaged with industry groups advocating for hemp law reform, and continuously educated lawmakers and the public on CBD’s safety. All of this groundwork positioned Inspirational Technologies to spring ahead when the law finally caught up with science. [What Does…usinesses?], [What Does…usinesses?]
A Turning Point – Legalization: Late 2018 brought the breakthrough we and the entire industry had been waiting for. The U.S. Congress passed, and the President signed, the Agriculture Improvement Act of 2018 the “Farm Bill” (see our story)
December 2018 – The Farm Bill Legalized Hemp

2019–2022: Growth through innovation and Partnerships

With legal clarity achieved, Inspirational Technologies moved full speed from R&D into the marketplace. The period from 2019 to 2022 was one of rapid growth, new partnerships, and establishing our leadership in the hemp wellness space. We transitioned from a small startup into a recognized brand with a national reach.

Commercial Launch: In early 2019, we officially launched our first line of CBD-based wellness products to the public. The line included the refined versions of our topical CBD cream and sublingual tincture, now branded under the Inspirational Technologies banner, as well as capsules and an all-natural CBD balm. We leveraged e-commerce and select health store partnerships for distribution. The timing was perfect: consumer interest in CBD had exploded, and people were eager to try these newly legal remedies. In fact, by 2020 nearly one-third of U.S. adults had used a CBD product, a huge leap in adoption from just 14% in 2019. We were ready to meet the demand with products formulated on a foundation of science and quality. Each batch was lab-tested for purity and potency, and we published the results online to continue building trust through transparency.

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1st Hemp USA 2021 Inspirational Technologies
Partnership with hempSMART:
A key milestone in this phase was our strategic partnership with hempSMART in 2019.
HempSMART – a California-based company known for its science-driven CBD formulations – shared a similar ethos with us. By partnering, we aimed to combine our strengths: Inspirational Technologies’ research and product innovation, with hempSMART’s established marketing channels and customer base. Together, we celebrated on product development and education. For example, we co-hosted webinars featuring experts like Paula Vetter (hempSMART’s medical advisor) to inform consumers about CBD’s benefits. This partnership expanded our reach across the U.S. and even into international markets where hempSMART had a presence. It was a win-win: hempSMART gained new formulations and R&D support, while we gained a ready distribution network and a boost in brand visibility. Collaboration has always been in our DNA, and this was a powerful example of how working with like-minded innovators could amplify our impact.
Scaling Up: Internally, these years saw our team grow and our capabilities scale. We onboarded new talent – from formulation chemists to regulatory consultants – to handle everything from product manufacturing to compliance in a fast-evolving regulatory environment. In 2020, hempSMART opened a larger production facility in Florida, enabling us to increase output to meet surging demand.
Our efforts at maintaining high standards earned recognition: by 2021, Inspirational Technologies was being recognized as a leader in hemp-based innovation, with industry magazines featuring our story and calling out our commitment to quality. We also invested in intellectual property, filing patents related to advanced cannabinoid extraction techniques and delivery methods (like a water-soluble CBD nanoemulsion to improve absorption).
This era wasn’t without its challenges, of course. The regulatory landscape, while improved, remained complex – the FDA still hadn’t fully figured out how to categorize CBD products, and we had to stay on top of patchwork state regulations. Public perception, however, continued trending in our favor. By 2022, 60% of Americans had tried CBD and believed in its benefits, reflecting a massive shift in acceptance. What was once fringe had become mainstream, found in everything from gummies and lattes to pain salves. We made sure Inspirational Technologies stood out in this crowded market by doubling down on science and trust – emphasizing evidence-backed uses, avoiding hype, and advocating for sensible regulations to protect consumers. Our reputation for integrity became one of our strongest selling points. [CBD Statis…bes Health]
Highlights 2019–2022: We achieved several key milestones in this growth phase: new product launches (including a popular CBD + herbal adaptogen capsule in 2021), revenue growth that outpaced our projections, and an expanding loyal customer community. We also saw the broader hemp industry flourish, validating our faith in this plant. (U.S. CBD product sales skyrocketed from about $108 million in 2014 to nearly $1.9 billion by 2022, illustrating the boom we were part of.) Inspirational Technologies had firmly established itself — not just as a company selling wellness products, but as an innovator helping to shape an entire industry. [CBD Statis…bes Health]

2023 and Beyond: Embracing a New Frontier

The stage is set for an exciting new chapter. As the metrics above show, the environment in 2023–2025 is remarkably different from a decade ago. Consumer acceptance of hemp remedies is at an all-time high, and the market has grown exponentially. With widespread legality and a mountain of supporting research, cannabinoids are poised to transform mainstream healthcare and wellness. In this context, Inspirational Technologies is embracing a new frontier. Our new direction will leverage everything we’ve learned over the past 12 years and push further to realize the full potential of hemp-based science. Here’s what to expect as we move forward:
1. Pioneering Advanced Therapeutics: The heart of our new direction is a commitment to deeper scientific exploration of cannabinoids and their medical potential. CBD opened the door, and now we’re walking through it with a toolkit of cutting-edge science. We are expanding our R&D to study lesser-known cannabinoids like CBG (cannabigerol) and CBN (cannabinol), which are also derived from hemp but have unique properties. For instance, recent research from Yale University highlighted CBG’s strong potential for pain relief without opioid risks, and ongoing studies suggest CBN may aid sleep. We believe these compounds, especially in synergy (the “entourage effect”), could address health issues that CBD alone hasn’t fully solved. To that end, Inspirational Technologies is initiating clinical collaborations to formally test cannabinoid-based therapies for specific conditions. We’re in discussions with medical centers to launch trials on a CBD-CBG blend for chronic neuropathic pain and on a cannabinoid regimen for anxiety and PTSD. The goal is to move beyond wellness products into the realm of evidence-backed therapeutics – bridging the gap between supplement and medicine. It’s an ambitious step, but it’s aligned with our founding mission of merging nature with advanced science. The scientific promise is truly compelling: studies show cannabinoids might offer safer alternatives to opioids for pain, relieve anxiety without harsh side effects, and even help in neurodegenerative diseases like Alzheimer’s. In 2018, the U.S. FDA approved its first CBD-based prescription drug for severe childhood epilepsy, validating that cannabinoids can meet the highest standards of medicine. We foresee a future where cannabinoid therapies are a trusted part of mainstream healthcare, and we want to be at the forefront of that movement. Our new direction prioritizes rigorous research, so doctors and patients can have confidence in the hemp-derived treatments we develop. [Cannabinoi…ain relief], [Cannabinoi…ain relief] [Cannabinoi…ain relief] [CBD shown…e with THC], [CBD shown…e with THC] [Frontiers…: from …] [What Does…usinesses?]
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2. Emerging Applications in Disease Relief: We are also broadening the applications of our products to target more specific needs. Over the years, customers have shared incredible stories of finding relief with our creams and tinctures – from an athlete’s persistent knee pain easing to an anxious traveler finally enjoying a calm flight. These experiences inspire us to tailor solutions for some of the most prevalent and pressing health challenges. Chronic pain, for example, affects millions and often leads to dependence on painkillers. With cannabinoids showing effectiveness in reducing inflammation and pain signaling, we are formulating targeted pain-relief applications, such as an advanced arthritis cream and oral supplements for inflammatory conditions. Mental health is another focus: anxiety and sleep issues are on the rise, and many are seeking natural relief. We’re exploring blends of CBD with terpenes and botanicals known for calming effects, to support those struggling with stress or insomnia. Early next year, we plan to release a CBD+CBN nightly tincture aimed at improving sleep quality naturally. On the more advanced end, we’re keeping an eye on research that suggests cannabinoids could play a role in serious conditions like cancer. A recent comprehensive study even found evidence that cannabis compounds might help fight certain cancer cells and improve patients’ quality of life. While we remain grounded in science (and such uses will require extensive validation), it underscores a key point: the therapeutic horizon of hemp is still expanding. Our new product roadmap is designed to adapt as new discoveries emerge. If a study finds that a CBD-THC combination (with minimal THC) works best for a given condition, we have the agility and knowledge to formulate accordingly – always within legal bounds. In short, we’re widening our scope from general wellness to targeted solutions for disease relief, driven by what science and our users tell us. [Cannabinoi…ain relief] [New Study…naging …], [New Study…naging …]
3. Market Expansion and Leadership: As we venture into these new arenas, Inspirational Technologies is committed to growing sustainably and responsibly. The hemp and CBD industry is maturing – consolidation is happening, regulations are catching up, and consumers are becoming more discerning. We see this as a positive evolution and aim to be a leader in the next phase of the market’s development. Part of our new direction involves stepping up our role in industry advocacy. We are actively engaging with policymakers and regulatory bodies to help shape commonsense regulations for hemp products. Our stance is that quality and safety standards are needed to weed out bad actors selling mislabeled or impure products. We’re advocating for measures like third-party lab testing requirements, proper labeling, and research-based dosage guidelines. We’re also preparing for the potential regulatory changes ahead. The FDA in the U.S. has hinted at developing a new framework for CBD in dietary supplements or foods, and bipartisan bills in Congress aim to clarify CBD’s legal status further. We welcome clearer regulations, and our team is proactively ensuring that whenever new rules come, we will not just comply but excel under them.
On the market front, we are exploring geographic expansion. Hemp’s acceptance is global now – countries across Europe, Latin America, and Asia-Pacific are embracing hemp CBD as laws evolve. Through the next couple of years, we plan to enter select international markets. We’re already laying groundwork in Canada and the EU, navigating their approval processes to offer our products abroad. Additionally, we’ll continue forging strategic partnerships. Just as our alliance with hempSMART accelerated U.S. growth, we’re eyeing partnerships in new regions (for example, a potential joint venture in Europe with a local wellness company) to bring our expertise to new audiences. At home, as the competitive landscape grows, we differentiate by staying true to science and innovation.
Product innovation remains key: our R&D pipeline includes not only new formulations but also new delivery technologies (imagine a transdermal patch for steady cannabinoid release, or a smart dispenser that gives personalized doses based on an app). Advanced technology – from bioinformatics to AI-driven data analysis – will increasingly inform how we design and validate our products, fulfilling the “advanced science” part of our mission with even greater precision.
Finally, as we look beyond 2025, Inspirational Technologies’ core values stay constant. The resilience, curiosity, and purpose that got us through the past decade will guide us in the next. We envision a future where a person with chronic pain might use a cannabinoid therapy we helped develop instead of habit-forming opioids; where someone with anxiety can find calm through a natural remedy backed by clinical evidence; and where hemp-based innovations contribute to a healthier, more sustainable world. The journey from a startup in 2013 to here has taught us that nature’s solutions and human ingenuity are an unstoppable combination. Our new direction doubles down on that truth. [Cannabinoi…ain relief]

Milestones and Future Goals at a Glance

To recap our journey and where we’re headed, here’s a summary of Inspirational Technologies’ major milestones over the past decade and our key goals for the future:
Year/Period Major Milestones Future Goals
2013 Founding: Steven Smith establishes Inspirational Technologies in Florida with a mission to merge natural wellness and advanced science. Begins research into hemp and medicinal herbs. Global Health Impact: Leverage hemp compounds to improve lives worldwide, bridging nutraceuticals and pharmaceuticals.
2014 First Investment & Website Launch: Secures initial private funding. Launches InspirationalTech.org as an educational hub to share research and combat misconceptions about hemp. Educational Leadership: Continue to educate consumers and health professionals about cannabinoids, setting industry standards for transparency.
2015 Research Foundations: Early lab studies on hemp compounds suggest potential benefits (anxiety reduction, anti-inflammatory effects). Establishes academic collaborations to validate findings. Research & Development: Invest in clinical trials and R&D for new cannabinoid therapies (e.g., pain, anxiety, neuroprotection), turning promising research into approved treatments.
2016–2017 Focus on CBD & Product Prototypes: Pivots to focus on hemp-derived CBD as interest grows. Develops first CBD product prototypes (topical cream and tincture) blending botanical science with tech. Product Innovation: Develop next-gen products (e.g., multi-cannabinoid formulas, improved delivery systems like patches or nano-emulsions) for more effective relief.
2018 Regulatory Breakthrough: U.S. Farm Bill 2018 legalizes hemp federally [What Does…usinesses?], [What Does…usinesses?], removing major legal barriers. Inspirational Tech poised to enter the national market with tested products. Quality & Compliance: Lead in product quality, exceeding regulatory requirements. Work with regulators (FDA, etc.) to establish clear guidelines that ensure consumer safety and trust.
2019 Product Launch & hempSMART Partnership: Launches first retail products nationwide. Partners with hempSMART to expand reach and co-develop offerings, boosting brand visibility and distribution. Strategic Partnerships: Build new alliances (with wellness companies, research institutes, healthcare providers) to expand globally and integrate hemp solutions into mainstream wellness and medicine.
2020–2021 Rapid Growth: Surges in customer adoption amid rising CBD popularity. Expands team and facilities; recognised in industry for science-driven approach. U.S. CBD use jumps (33% of Americans by 2020) despite lingering stigma. Market Expansion: Enter new markets in Europe, Canada, and Asia as global hemp legalization progresses. Continue to adapt to market trends and consumer needs with agility.
2022 Industry Leadership: Establishes itself as a leading hemp innovation company. By 2022, U.S. CBD sales reach $1.9B [CBD Statis…bes Health] and 60% of adults have tried CBD [CBD Statis…bes Health] – a testament to growing acceptance that Inspirational Tech helped foster. Industry Leadership & Advocacy: Influence the hemp industry’s evolution by advocating for sustainable practices, environmental responsibility in cultivation, and social responsibility in marketing (ensuring products are used appropriately for wellness).
2023 New Initiatives: Kicks off new R&D projects on cannabinoids like CBG/CBN for pain and sleep. Prepares for clinical collaborations to formally study cannabinoid therapies. Company culture shifts toward biotech startup mindset (hiring medical liaisons, data scientists). Therapeutic Breakthroughs: Aim to achieve at least one FDA-approved cannabinoid therapy in the next 5–7 years, bringing a natural yet scientifically-vetted medicine to patients (e.g., a prescription CBD/CBG pain reliever).
2024 Preparation for New Direction: Aligns strategy with market trends and scientific advances. Strengthens compliance team for anticipated regulations. Engages with lawmakers on CBD policy. Concepts for personalized cannabinoid wellness programs (leveraging AI) in development. Personalized Wellness: Utilize technology (AI and data analytics) to tailor cannabinoid-based solutions to individual needs, ushering in an era of personalized, plant-based medicine.
2025 & Beyond Announcing New Direction: Unveils a forward-looking strategy focusing on advanced research, broader health applications, and global expansion. Poised to integrate hemp-based innovation into healthcare on a larger scale, staying true to the vision of holistic wellness powered by science. Vision 2030: By 2030, become a global pioneer in cannabinoid science, with a portfolio spanning consumer health products, licensed medical treatments, and technological platforms – all while maintaining the trust and holistic principles that have defined Inspirational Technologies since 2013.

Conclusion: by Steven M. Smith
As we step into this new chapter, Inspirational Technologies remains guided by the same principle that sparked our founding: the belief that nature and science together can improve lives. Our journey from 2013 to 2025 has been one of learning, innovating, and breaking barriers. We transformed challenges into opportunities – whether overcoming legal hurdles or shifting public perception – and in doing so, we’ve helped pave the way for hemp-based wellness worldwide. The future of hemp and cannabinoids is bright. From emerging scientific breakthroughs to evolving market dynamics, all signs point to an era where these natural compounds take a more central role in health and wellbeing.
With our rich history and renewed focus, we’re ready to lead in that era. The coming years will see Inspirational Technologies diving deeper into research, launching exciting new solutions, and reaching people in ways we once only imagined. We extend our heartfelt thanks to our supporters, partners, and customers who have believed in our mission. Together, we are forging a new path for natural wellness – one that honors ancient wisdom, embraces modern innovation, and inspires a healthier future for all.”
Stay tuned for more updates as we embark on this journey ahead. The best is yet to come.

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New York has $750 Million Worth of Cannabis that Growers cannot yet Sell.

New York has $750m worth of Cannabis Stockpiled that Growers can’t Sell. Word to Those States Leaning Legal.

Story by E Helmore, 
New York, NY   November 19, 2022 
Cannabis farmers have ‘an unclear path to market’ as the state has yet to approve retail dispensaries.

A strong smell of weed hangs over many New York neighborhoods, the result in part of cannabis decriminalization in 2019 – but cannabis growers in the state are at an impasse when it comes to getting their crops to market.

Photograph: Mary Altaffer/APPhotograph: Mary Altaffer/AP© Provided by The Guardian

Almost 300,000 pounds of the drug, worth as much as $750 Million, from last summer’s production at 200 state-licensed farms are stockpiled, without a place to be sold and in danger of deteriorating, according to a report said on Saturday.

Distribution issues are to blame. Although the New York City has vape shops selling marijuana and CBD products on almost every street, and there are mobile weed vans on Times Square, New York’s office of cannabis management , has just approved regulations regarding retail sales/after Legislation signed back in March 2021.   WORD TO NEW STATE LEGISLATION. BE A PATIENT BUT BE PATIENT.

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New York regulators have approved the first round of retail licenses that will kick off the legal adult-use cannabis market in the state.

The Office of Cannabis Management (OCM)

TAKING BOLD ACTIONS TO ENCOURAGE SOCIAL JUSTICE, PUBLIC HEALTH AND ECONOMIC DEVELOPMENT IN THE LIVES OF ALL NEW YORKERS
Office of Cannabis Management

The Marijuana Regulation and Taxation Act creates a first in the nation comprehensive regulatory structure to oversee the licensure, cultivation, production, distribution, sale and taxation of medical, adult-use and cannabinoid hemp within New York State.

Approved the applications of 36 individual businesses and nonprofit organizations that have been granted conditional licenses to open up the first dispensaries in New York.  But several issues may delay the full implementation of cannabis legislation in the state.

The OCM announced the first round of conditional licenses for 28 individuals and eight nonprofit organizations yesterday.

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Not one legal recreational dispensary has opened. Last week, a federal judge handed down an injunction that blocked the state from handing out licenses in Brooklyn and areas of the Hudson Valley region after a lawsuit claimed that the state’s cannabis equity program violates the US constitution.

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Will the Cannabis Industry Ever GET HIGHER OPPORTUNITY?

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

Year after year, mainstream news articles tout the exponential growth of the industry, the record-breaking sales figures each 4/20 and the increasing number of states enacting or considering legalization.

However, these reports exclude how increasing competition, festering federal uncertainty, a prospering illicit market and crippling taxes and regulations chip away at profits.

In fact, due to 280E, a typical multi-state operator is paying an effective tax rate of more than 60% each year, while Amazon’s effective federal income tax rate was 6.1% in 2021.

2022 Will Be a Regulators Recognition Day to the Majority

Although the cannabis space is still growing and will only increase in size, the sad truth is a reckoning is coming.

The realities of the macroeconomic conditions impacting every other industry cannot be avoided and are an increasing drag on an already overburdened industry.

Rising inflation rates and concerns over political uncertainty are taking a toll.

And the cannabis industry has its own unique problems that keep real progress at bay:

A high taxation rate pushes many consumers away from the regulated market and to illicit dealers where products aren’t guaranteed to be tested and safe.

3rd Party Certificates Of Analysis (COA) determine what is in the sample tested. Look for the Good and the Bad. *Pesticides, Heavy Metal or Added Toxins

Falling wholesale prices and increased competition force discounting that flatten margins.

The lack of federal legislative action on banking issues continues to weigh the industry down. Forces are combining to create the industry’s first sustained downturn, which is already underway.

There have been layoffs at high-profile cannabis tech companies. Shares of some publicly-traded cannabis companies have plunged more than 70% since February 2021.

Sales are off from projected levels. And merger and acquisition activity will continue to force rightsizing.

Price wars drive down revenue; social equity efforts stall Development of industrial agricultural processes in cannabis has led to commodification of the crop, pushing wholesale prices down by 18% year-over-year.

In the meantime, increased competition is leading some less sophisticated cannabis retailers and brands to dramatically discount products, relinquishing millions in bottom-line revenue in the process.

While price compression was expected, it arrived sooner and has been more formidable than anticipated.

And there’s little chance price compression will reverse on a commodity crop.

As states expand their markets by adding licenses for more dispensaries and producers in an effort to maximize tax revenue, the problem is exacerbated.

Department of Agriculture (USDA)

More outlets equal more taxes but also increased competition which has ignited a race to the bottom in discounting.

Progressive state laws embolden the illicit market.

The cannabis industry and many recent states legalizing adult-use cannabis have made it clear that cannabis policy is also a social equity issue.

But the progress of awarding licenses to social equity applicants is stymied by the industry’s ongoing lack of financing options.

It is laudable to award 50% of adult-use cannabis licenses to social and economic equity applicants as New York requires.

However, if these businesses cannot access necessary capital to stand up an operation, they will never succeed.

Until the industry’s longstanding banking problems are resolved at the federal level, social equity efforts are bound to fail.

Federal Policy: Dead on Arrival

Like everyone else, I was hopeful 2020’s ‘Blue Wave’ was going to be beneficial for the cannabis industry. But we were all bamboozled by politicians who lied to get the job and have not followed through on their empty promises.

Even despite the watershed moment of Senate Majority leader Chuck Schumer placing the full backing of his office behind cannabis legalization, midterm-election-year politics doom any real federal legislative progress this year.

As congressional minutiae around state protections and safe banking for cannabis continues, we are watching the slow-motion decimation of a powerful job-creating industry, hamstrung due to ineffective leadership that is over-regulating and overtaxing on a state level and completely disregarding and obstructing on a federal level.

President Biden ran on his support of the cannabis industry, yet continues himself to manufacture roadblocks against legalization while the country experiences an eye-popping 25% increase in federal cannabis arrests under the Biden regime.

Senator Schumer has been completely ineffective introducing legislation that overreaches and is DOA by the time it hits the floor.

While cannabis receives 92% approval at some level from bipartisan constituents, these voters’ representatives continue to work to override the will of the people.

The time to receive clear and defined guidance on banking issues from the federal government is now.

Our federal representatives must level the playing field for the cannabis industry and allow the same participation in corporate banking and taxes granted to every other regulated industry, from pharmaceuticals to the alcohol industry.

All is not lost:

What’s going right Despite the industry’s current ongoing challenges, growing pains should be considered as the natural lifecycle of a nascent industry certain to experience continued long-term growth.

Although layoffs are personally painful, eliminating redundancies and reducing costs are beneficial to a company’s health and necessary for rightsizing an organization for the long haul.

Rightsizing an organization demonstrates responsibility and accountability from senior leadership in an industry that often sees more ego-driven, inexperienced decisions.

Bottom-line: duplication and wasteful spending are just as bad in a good economy as one under pressure.

Smart reductions re-set the table for stability and long-term growth. Then it’s go-time for material progress, otherwise perhaps we need to see some change at the top.

In the end, long-term growth is the ultimate goal, particularly for an industry that is still in its infancy.

And the prospects for long-term growth are overwhelmingly positive.

In January, U.S. employment in the cannabis industry stood at nearly 429,000 full-time jobs and growing.

Even as the country went through the second year of the pandemic, the sector saw a 33% increase in new careers, creating more than 107,000 jobs thus far in 2022.

That’s about 280 new jobs per day. Of course, there will be tough decisions to be made in the near term. But industry job growth is expected to continue, especially as new markets come online.

In essence, the cannabis industry is not immune to the current economic instability impacting every other facet of the economy. But combined with the industry’s other unique challenges, this turmoil provides an opportunity to course-correct for the next stage of growth and the eventual reform at the federal level.

As cannabis industry leadership steps up to make the tough decisions, we can only hope – and demand – those political leaders do the same.

1 – Change is coming in the world of banking.

A lack of access to banking is not new news for the cannabis industry, which faces significant roadblocks in operation. But there are two potential beacons of hope for cannabis companies — the Secure and Fair Enforcement (SAFE) Banking Act and changes to the IRS Code 280E.

The SAFE Banking Act sets out to protect access to banking by members of the cannabis industry. It was passed in the House in 2019 but died in Committee. Since then there has been ongoing debate but its passage has been hindered by Republicans in the Senate. It was passed again in the House earlier in 2021 and is back at Committee stage.

There are also ongoing discussions about changes to IRS Code 280E. This specific section of the Internal Revenue Code prohibits the deduction of several business expenses on federal taxes for businesses presently engaged in trading controlled substances, like cannabis.

While these two pieces of proposed legislation are still being debated,  there are signs that momentum is building for change, and we predict that big things are coming soon.

2 – 2022 cannabis trends show that federal legalization is closer than ever.

It’s no secret that the legalization and decriminalization of cannabis are trending favorably. Even before the Presidential election of 2020, members of Congress had introduced several bills aimed at loosening federal restrictions or decriminalizing cannabis.

MORE Act

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act, which would have decriminalized cannabis and expunged criminal records for nonviolent cannabis offenses.

STATES Act

The Strengthening the Tenth Amendment Through Entrusting States (STATES) Act would have prohibited federal enforcement actions against cannabis conduct that is otherwise compliant with state law.

The Cannabis Administration and Opportunity Act

The Cannabis Administration and Opportunity Act only complicated the legalization landscape even more in 2021. This comprehensive bill would significantly change how cannabis is regulated by the federal government, enable interstate commerce in cannabis, and decriminalize cannabis.

As with the banking situation, there is no clear and direct path to any of these bills becoming law. Regardless, it’s clear that Congress continues to push forward in favor of the cannabis industry.

Surprisingly, it’s not just the Democrats in Congress making moves. U.S. Republican Nancy Mace from South Carolina just introduced a new bill to decriminalize cannabis, promoting each state’s individual preference for treating cannabis. Again, while this bill is still some distance away from becoming law, this new and refreshing energy from a Republican in a red state could help thrust the ongoing debate forward.

3 – Integrated technology in cannabis is ever-evolving.

The cannabis industry is no stranger to integrated technology. To help evolve and refine the cannabis experience, we’re expecting a growth in the number of cannabis products and consumption tools that harness data and new technology emerging in the upcoming year.

From vapes that developers can routinely update to QR codes on product packaging, cannabis tech will continue to get more intelligent and innovative, on a par with all other smart household devices.

Cannabis is quickly embracing the Internet of Things, which will prove to be a benefit to producers and consumers alike. With the data this technology provides, marketers will begin to gain insight into what effects people are experiencing and how they are enjoying their cannabis.

Take, for example, the latest technology for being able to test potency from the comfort of your own home. How potent is your cannabutter? Are you tired of guessing when it comes to dosing? The Check Potency Testing Thank you for consideration.

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Plus technology allows you to eliminate all the guesswork.

Now, for both THC and CBD, always check their COAs!

4 – Say hello to consumption lounges.

One of 2022’s cannabis trends we’re most excited to see is the rise in the number of  consumption lounges and, as a direct result, the growing profile of cannabis in the tourism sector.

Because of the legality concerns of using cannabis in many states across the country, consumers have mostly been forced to indulge in private. But, as the market continues maturing and decriminalization gathers steam, consumers will begin pushing for more elevated experiences.

The solution to providing an elevated cannabis experience will be the introduction of consumption lounges.

Nevada has passed legislation allowing adults to eat or smoke cannabis in consumption lounges and in doing so has become the eighth state to legalize pot lounges. In mid-2022, we can expect to see the first Vegas consumption lounges opening.

While consumption lounges are mostly rarities and tend to be slow to open, they will set the stage for breaking down some of the boundaries the industry faces today. Consumption lounges will be sure to help with boosting cannabis sales, de-stigmatizing the plant, and potentially supporting social equity.

Consumption lounges will create another venue for industry leaders to connect directly with their customers. In addition, they will open up endless possibilities for experiential marketing. As consumers return to public life with the ever-present craving for novelty, this segment is primed to become even bigger post-pandemic.

As cannabis tourism continues to trend favorably, we can only anticipate seeing more growth in this area, including things like cultivation classes, cannabis-spa packages, dispensary and farm tours, and even cannabis hotels and restaurants.

5 – There will be new cannabis products to look out for. 

With a new year comes the emergence of new product offerings. The cannabis flower will continue its reign as king in most markets. Again, touching on the post-pandemic market filled with consumers looking to socialize in large groups once again, we’ll see the rise of new cannabis products that accommodate this lifestyle.

We expect to see canna-beverages exploding in the next year. Innovative technologies in the cannabis industry continue to improve emulsion techniques and nanotechnology. At the same time, more and more Americans are seeking out non-alcoholic alternatives. It’s the perfect time for something like canna-beverages to enter the market, filling that void as a lower-calorie, non-hangover-inducing option.

6 – Celebrities setting the trends in investing.

A growing number of sports stars, musicians, and actors, including some of Hollywood’s biggest names, are trying their hand at investing in the cannabis industry. As cannabis continues to trend in the mainstream, many famous folks are hopping into the business. Here are just a few noteworthy celebs and their brands:

Snoop Dogg’s Leafs By Snoop

Martha Stewart’s Martha Stewart CBD

7 – Cannabis technology will make growing accessible to anyone with the time and patience’

One of the primary benefits of hydroponics is that it eliminates the guesswork from crop maintenance.

8 – Cannabinoids and psychedelics will begin to diversify.

Not surprisingly, THC and CBD will remain on top of everyone’s list, but some of the 100-plus lesser-known cannabinoids are going to start to become more and more popular.

Be on the lookout in the upcoming year for some of these less common cannabinoids:

Cannabigerol (CBG)

Cannabinol (CBN)

Tetrahydrocannabiphorol (THCP)

Tetrahydrocannabinol-O-acetate (THC-O)

Delta-8 tetrahydrocannabinol (THC)

These compounds, that can be used to achieve new highs and treat various conditions, will be continuously studied to determine their specific benefits.

In the world of psychedelics, cannabis is also moving mountains in terms of paving the way for the legalization of psilocybin mushrooms and other psychedelics. Using cannabis’ path as a guide, many have already started exploring the therapeutic potential of these plants, and grassroots organizers are pushing for decriminalization and legalization.

9 – Things will heat up in the kitchen with more cannabis cooking.

Cannabis is booming —so much so that this period we’re currently in is referred to as the Green Rush. Everyone is getting on board with cannabis, which is why we’re not too surprised to see it in the heart of the home, the kitchen.

It’s incredible to see how far it’s already come. Even the notable Food & Wine released an article this year titled The Food & Wine Guide to Culinary Cannabis, with everything including the basics, how to make your own cannabutter, and some drool-worthy recipes.

Don’t just take our word for it. Check out some of our top picks:

Cannabis-Infused Brioche French Toast

Cannabis-Infused Pasta with Clams and Green Chiles

Cannabis-Infused Citrus-Caramel Blondies

10 – Investment opportunities will be on the rise.

Investors are growing more confident as the cannabis industry continues moving towards federal legalization. These investors will continue to use the same tactics they have in the past for more traditional businesses but instead pour their money into cannabis brands. 2022 cannabis trends suggest that the funding drought will be over for many.

Cannabis marketing departments will be messaging not only B2B or B2C but also digging deeper into market segments and B2I. We’ll be watching cannabis founders become experts at raising capital in both maturing and newly approved markets, with more Special Purpose Acquisition Companies (SPAC) and venture capital funds getting involved in the cannabis space.

11 – Global growth of cannabis will bring broader branding and marketing efforts.

The largest and oldest trade show in the cannabis sector is MJBizCon. At this year’s conference, we are likely to see an increase in global growth with contributing countries beyond the United States, including Paraguay, Germany, and Argentina.

We are expecting to see the largest national companies in the United States start gearing up for importing and exporting. With it will come a better positioning in a future global market for cannabis.
‍

Comply Bag Technology

This growth will open up an international approach to cannabis branding and marketing and show us what it might look like as more cannabrands reach a global scale and achieve international recognition.

12 – Cannabis and wellness will become synonymous.

Cannabis isn’t the only industry that’s booming right now. With it is the wellness market, which is currently measured in the trillions of dollars. Cannabis brands are leveraging their messaging to be more wellness-centric, promoting things like personal optimization to reach new prospective consumers.
Companies can use that familiar shorthand to introduce their products and tout their benefits because consumers are fairly well versed with the language and ethos of the supplement industry. We’ll see more cannabrands educating customers that are curious about cannabis products in the upcoming year. A prime example is how they can incorporate products like concentrates or tinctures into their self-improvement, wellness, and workout routines.

Final thoughts.

So, there you have it. Thank you for the Internet’s top 12 predictions for the cannabis industry in 2022 show that there are exciting things ahead..

2022

cannabis trends are favorable as we move towards federal legalization and, with it, uncharted territories.

 

Thank you for consideration.

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Thank you for consideration.

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4 Hemp Club was Inspired by Steven Smith’s vision to

“Have an older generation 4H Club, where an older community of adults could carry on what the younger 4H Club envisioned.

Our 4H Platform Uses HEMP as an Agricultural Focal Point, deserving of research, development and with the

4 Hemp key points being Health Hope and Happiness, thru Hemp“.

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