Lil Wayne is the latest music star to launch his own cannabis brand GKUA – Gkua Ultra Premium Cannabis. His aim is to give customers the
best high of their lives.
GKUA offers a wide range of products with an emphasis on purity and high-potency. Covering both THC and CBD products in various forms – Flowers, Vape, Concentrates, Pre-Rolls as well as his own line of apparel the artist and entrepreneur wants to give a unique experience to his brand advocates as he has done for his music fans.
Listed on the top 10 of rap artists with the most Grammy wins his hard work has resulted in 5 Grammy awards and 26 nominations. Inspiring millions with his lyrics the artist goes one step forward to support new artists in multiple mediums through his brand. Fashion designers, song writers, musicians, models, dancers and visual artists will promote not only the brand but the GKUA lifestyle through artistic collaborations.
GKUA Ultra Premium products are available in select California dispensaries and will soon be expanding to the rest of the states that have legalised marijuana for recreational purposes.
Artists entering the cannabis business
Lil Wayne is not the first artist though to launch a cannabis brand. Snoop Dog has launched his own cannabis line back in November 2015. In collaboration with Canopy Growth, a world-leading cannabis company, his brand Leafs By Snoop offers 8 products:
Canopy Growth has confirmed a partnership with another rap artist this time Canadian. Drake is also an artist that enters that cannabis industry with a brand that is
centered around wellness, discovery, and overall personal growth
More Life Growth Co. has entered the scene with a marketing move that is as unique as the artist that represents it. The “Champagne Papi” sent flowers across downtown Toronto to promote his new venture that visions to facilitate connections and shared experiences across the globe.
the new term that was coined to represent the entrepreneurs that enter the cannabis market, are making their love for the plant public and connect their personal brands with cannabis products. Professional athletes like Mike Tyson and the Diaz Bros have already advocated for the healing benefits of the leaf. As medical cannabis legalisation advances across the world and recreational use is slowly being socially accepted and decriminalised we will be sure to see more of these public figures joining the cannabis revolution.
New Zealand Cannabis Legalization Initiative Fails At Ballot Box
New Zealand didn’t legalize cannabis. They did advance a law regarding euthanasia, however.
Preliminary election results in New Zealand indicate that a cannabis legalization initiative has been rejected by voters, although some votes still remain to be counted. Totals from the election held on October 17 show that 53% of voters chose not to support the initiative, while 46% voted in favor of marijuana legalization. A second referendum to legalize euthanasia in New Zealand appeared to be headed for approval with 65% of the vote in favor, according to results released on Friday by the Electoral Commission in Wellington.
Under the cannabis initiative, possession, use, and home cultivation of recreational cannabis by adults 20 and older would be legalized. The measure would also establish a regulated market for commercial cannabis sales, and shops and cafes for the sale and consumption of cannabis would be licensed by the government.
Supporters of the initiative argued that legalization would eliminate the influence of criminal organizations in the marijuana market in New Zealand, where 80% of the population reports trying cannabis by age 20. Advocates for the measure also noted that the country’s drug laws are unfairly enforced, with indigenous Maori citizens three times more likely to be arrested and convicted on cannabis charges than non-Maori individuals.
Asher Etherington of Make It Legal New Zealand, a group that campaigned for the initiative’s passage, expressed disappointment at the election results released on Friday.
“If no voters thought that by voting down this opportunity, Kiwis would cease to consume cannabis, they have not been paying attention,” Etherington said. “The cannabis reform lobby here has fought for decades and is prepared to fight for decades more to achieve positive reform.”
Tuari Potiki, chairman of the New Zealand Drug Foundation, called for continued drug reform efforts and the elimination of cannabis criminalization, saying that punitive measures are disproportionately borne by the Maori and young people.
“Although a majority of New Zealanders did not vote for the proposed model of legalization, the debate has shown a clear public desire for legal change in some form,” Potiki said in a statement.
Prime Minister Criticised For Lack Of Support
Supporters of the measure criticized Prime Minister Jacinda Ardern, who easily won re-election in last week’s vote. She had failed to publicly support the initiative, despite admitting in a debate late last month that she had used marijuana “a long time ago.” Only on Friday did she finally confirm that she had voted in favor of the measure.
Richard Shaw, a politics professor at Massey University, said that the results of the election could have “been a whole lot tighter had the P.M. taken the position in public that we now know she took on the ballot herself,” adding that “there’s a certain measure of disaffection, frustration, and no small amount of anger that she’s now indicated she has this position and hasn’t clarified why she didn’t take this position before the election.”
Although approximately 480,000 “special votes” are yet to be counted, the chance for a change to the preliminary results when the final count is released on November 6 seems slim. On Friday, Justice Minister Andrew Little said it was “highly unlikely” that the initiative would prevail in the final results and said that the government has “no other plans in terms of drug law reform.”
CBD News Roundup: CBD Sales Could Reach $2 Billion In 2020, Report Says
Here’s the latest CBD news: According to a report, CBD sales could reach $2 billion in 2020 and triple by 2025. New York Gov. Andrew Cuomo submitted proposed regulations for CBD products. An economic recovery committee in the Bahamas has recommended legalizing hemp and hemp extracts. Table of Contents Report: CBD Sales Could Reach $2… View Article
The post CBD News Roundup: CBD Sales Could Reach $2 Billion In 2020, Report Says appeared first on The CBD Insider.
Here’s the latest CBD news:
- According to a report, CBD sales could reach $2 billion in 2020 and triple by 2025.
- New York Gov. Andrew Cuomo submitted proposed regulations for CBD products.
- An economic recovery committee in the Bahamas has recommended legalizing hemp and hemp extracts.
Table of Contents
- Report: CBD Sales Could Reach $2 Billion In 2020, Triple By 2025
- New York Files Regulations For CBD Products
- Panel Recommends Hemp and Hemp Product Legalization In The Bahamas
Report: CBD Sales Could Reach $2 Billion In 2020, Triple By 2025
Perhaps thanks to increased anxiety and stress during the coronavirus pandemic, CBD sales have skyrocketed in 2020.
In 2019, total sales of hemp-derived CBD consumer products in the US was roughly $1.2 billion, according to Nielsen Global Connect. Now, Nielsen and Hemp Industry Daily have joined forces to forecast CBD’s future in their report “How to Navigate the Complicated World of CBD in Retail.”
In the report, Nielsen projects CBD product sales will land somewhere between $1.7 billion and $2 billion in 2020. Even on the low end, this would represent close to a 50 percent increase over last year.
If the CBD industry were to receive favorable guidance from the US Food and Drug Administration (FDA) or legislation from Congress, Nielsen expects CBD to generate $8.9 billion by 2025, more than tripling in just five years.
The current lack of FDA regulations has allowed CBD products to floor the market in 2020. The report breaks down sales into product categories, such as topicals, over-the-counter supplements, beverages, inhalables, food items, and candy, each of which has become a massive moneymaker for the CBD industry.
Nielsen’s findings show that the food category, which CBD brands have tried with difficultly to enter, is one of the smallest CBD segments. Meanwhile, high-end beauty and skincare products in the prestige category may offer a great opportunity, with sales expected to increase by close to 1,000 percent by 2025.
Beyond the estimated sales of hemp-CBD products, the reports also break down:
- The demographics for current and future CBD consumers.
- How and why consumers are using CBD.
- The barriers to consumer adoption.
- The prices compared to non-CBD products.
- Category management trends.
- How to stand out in retail.
- The federal regulatory outlook.
New York Files Regulations For CBD Products
This week, New York Gov. Andrew Cuomo announced the state had filed proposed regulations to regulate CBD hemp products in New York State.
The regulations, released by the state’s department of health, will license CBD processors and retailers. The Cannabinoid Hemp Program will also set quality control standards in place that all CBD hemp products must meet.
“These regulations are the next step toward regulating the growing hemp industry in New York in a way that protects consumers and helps ensure the industry’s long-term viability,” said Governor Cuomo. “Establishing the State’s Cannabinoid Hemp Program to regulate production and sale of hemp and hemp extract will help protect both consumers and farmers.”
Applications for cannabinoid hemp processing and retailing licenses are currently under development. The state department of health says it hopes to make them available in early 2021.
Panel Recommends Hemp and Hemp Product Legalization In The Bahamas
The Economic Recovery Committee in the Bahamas has called for the nation to legalize hemp and hemp extracts, as well as marijuana.
In a report, the committee says the industry represents an opportunity to bring in revenue. Prime Minister Huber Minnis said the country’s cannabis laws “outdated” and need to be changed.
“There are potentially many opportunities for creative Bahamian businesspeople to get involved in this new industry,” he said to the House of Assembly.
Minnis also said cannabis businesses would have to be Bahamian-owned or majority-Bahamian owned.
Under the new rules proposed in the report, hemp and derivative products with minimal or no THC would be exempt from regulatory limits. It would also make government-owned land available to cultivate cannabis, with special provisions in place for small-scale farmers and the Rastafarian community.
The report also would allow adults to possess up to two ounces of marijuana, with unsanctioned possession beyond that limit being punishable by a fine. Lastly, the report will allow for the licensure of cannabis cafes, resorts, and guesthouses for on-premises consumption.
The next step in the plan is a public comment period.
Study Shows Cannabis is Becoming a Less Divisive Issue in the U.S.
Are more voters across the board in favor of cannabis than in previous years?
If there’s one thing all Americans can agree on right now, it’s how divided we are on most of the major issues in the nation. However, despite this significant divide, there is another thing that both sides can apparently agree on: cannabis.
While it’s still clear that a democratic presidential win would overall be huge for the cannabis industry across the board in the U.S., as would the presence of more democrats in the Senate, the numbers are now showing more than ever that Republicans can also get behind cannabis legalization in many cases.
“The prevailing wisdom has been that a conservative administration would be less receptive, but I think legalization is now inevitable on its own kinetic energy,” said Sturges Karban, chief executive officer of ManifestSeven, a cannabis logistics company, to The Philadelphia Inquirer. He describes federal legalization as “a political “third rail”.”
This could be a major step for the industry, as Senator support for cannabis is currently the missing piece for passing different legalization bills across the country. Arizona, Montana, and South Dakota, three conservative states that wouldn’t necessarily be thought of as cannabis hubs, are voting on cannabis issues that are expected to pass. New Jersey, Mississippi, and South Dakota, three other unlikely states to embrace cannabis, are also considering some form of legalization.
“People are just much less afraid of marijuana than they used to be,” said John Fanburg to The Inquirer. He serves as co-chair of the cannabis practice in New Jersey-based that took the poll. This, he says, is the result of the state’s medical cannabis program, which has grown majorly in past years, convincing many in the state that cannabis isn’t so bad.
Closing The Gap
A survey done in New Jersey this month by the Brach Eichler LLC firm revealed that their state is likely to vote to legalize recreational cannabis thanks in part to Republican support. It showed that across New Jersey, based on everyone polled, 74 percent of democrats and 52 percent of Republicans support legalization.
According to a poll from Monmouth University, Arizona poll results show that cannabis is 56 percent favored for legalization, another unlikely number from a more conservative state without a history of cannabis legislation.
“The red states are empirical evidence that there’s enough demand and support at the grassroots [level] that the issue is agnostic to party,” Karban said. “How do you ignore that if you’re in Washington?”
“We’re cresting the summit on changing federal law,” said Graham Boyd, head of the New Approach Political Action Committee. “It’s been a painful uphill climb until now with the Senate being unmoved. But with South Dakota and Arizona and Montana on board, it starts to change that because they have Republican senators.”
As this trend continues across the country, it seems more and more likely that cannabis legalization could become a reality on a federal level. The November election results will reveal just how close this legalized future might be.
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