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Category: Government

Midterm Election Results photo

Midterm Election Results

Jensen Pindell , 11/15/22

This week was a greatly anticipated Midterm election, especially if you are part of the cannabis industry. The main initiatives dealing with cannabis-focused on five states: Missouri, Maryland, Arkansas, North Dakota, and South Dakota. Let’s look at what happened! Arkansas, already having a medical market, rejected Issue 4, which would have opened an adult-use market in the state. Maryland voters had a 65% response of yes to the question, “Do you favor the legalization of the use of cannabis by an individual who is at least 21 years of age on or... Read More >
Is There Special Halloween Candy? photo

Is There Special Halloween Candy?

by Michael Jara, 10/31/22

Happy Halloween! As we all know, October is a big time for most retailers selling edible products, particularly candy. According to a study by Investopedia.com, Americans spent over 10 billion dollars on Halloween last year, a record high. Roughly 3 billion of this is just on candy. This year we expect to see even more money spent overall, which begs the question, do the sales of edibles within the cannabis industry also reflect this behavior? As a reminder, edibles are defined as products containing THC that can be consumed by eating or drinking. There are... Read More >
Cannabis Seeds and the 2018 Farm Bill photo

Cannabis Seeds and the 2018 Farm Bill

by Paige Reimers, 10/17/22

Earlier this year, the Drug Enforcement Administration (DEA) ascertained that while cannabis seeds will eventually grow into cannabis plants, they do not fall under the Controlled Substance list due to the federal legalization of hemp under the 2018 Farm Bill. Marijuana remains a Schedule 1 controlled substance (grouped with heroin and ecstasy) with no currently accepted medical use under the Controlled Substances Act. Before this update, cannabis seeds were considered a controlled substance. The Agricultural Improvement Act of 2018, also known as the 2018 Farm Bill, authorized the production of hemp and removed hemp and... Read More >
The Importance of Categorization in Cannabis photo

The Importance of Categorization in Cannabis

by Michael Jara, 10/13/22

Within any state track-and-trace system, there are "Product Categories" where licensees can organize their cannabis inventory. For example, "Pre-roll Flower" is defined as "pre-rolled joints made with full cannabis flower with a unit of measure (each) AND strain attached AND weight within the unit (grams). METRC, one of the most common track-and-trace systems in the United States, implements product categories by state, allowing each market to determine which types they will use. METRC users must ensure products are grouped correctly. A product grouped incorrectly skews state statistics and complicates a licensee's inventory. Both have relatively... Read More >
Inflation pt. 2 photo

Inflation pt. 2

by Michael Jara, 9/27/22

As we near the end of 2022, we see the inflation rate for the US finally stabilize at about 8-9%. This is still the highest in recent history. However, as we discussed in our first blog post, the cannabis industry as a whole has not suffered the same price increases as other industries. This does not mean there haven’t been changes to cannabis sales over the last couple years.   So far in 2022, we can... Read More >
Artificial Intelligence Regulation photo

Artificial Intelligence Regulation

by Alec Horn, 9/19/22

The potential of artificial intelligence is growing by the day, with industries across the globe implementing these systems to help drive everyday operations. Consequently, governments have taken an extreme interest in the possibilities of AI and its impact on people's daily lives. The European Union is an excellent example of this, as they have introduced a new Artificial Intelligence Act that will set the foundation for how European countries look at and regulate AI.   To understand the implications of this act, it is... Read More >
All About Artificial Intelligence photo

All About Artificial Intelligence

by Will Krebs, 8/26/22

Articles about artificial intelligence are published daily online and in the media with promises to revolutionize industries, automate tasks, and (occasionally) act violently toward humans. Recently, AI has evolved to a higher level of ability in emulating human traits like creativity and language processing. As AI relates to creativity, an AI model named Dall-E (now Crayion) took the internet by storm, generating artwork based on a text prompt. The resultant pieces range from... Read More >
Unique Conditions of Cannabis Track and Trace photo

Unique Conditions of Cannabis Track and Trace

Michael McDermott, 8/18/22

The requirement to track products across the supply chain from seed to final sale exists in highly regulated industries such as food, pharmaceutical, alcohol, tobacco, and cannabis. Track and Trace systems aim to achieve two main objectives: Protect consumer health and safety with the ability to recall products. To comply with rules and regulations and provide transparency of transactions across the supply chain. Different track and trace systems are developed for each industry's unique requirements. However, the main difference in the cannabis industry from the other industries is the lack of consistent regulations across legal markets. Each state can... Read More >
EVENT: PBC Conference Sept. 7 & 8 photo

EVENT: PBC Conference Sept. 7 & 8

Jensen Pindell, 8/4/22

NCS Analytics upcoming event schedule for September starts with the PBC Conference! Come meet up with us on the road! Michael McDermott will be attending the PBC Conference September 7-8 in Washington DC. If you have any questions or want to connect before, you can contact us via email at sales@ncsanalytics.com or schedule a one-on-one meeting with Michael here.   ... Read More >
Impact of Inflation on the Cannabis Industry photo

Impact of Inflation on the Cannabis Industry

by Michael Jara, 7/27/22

Today’s headlines are filled with discussions on inflation. So what exactly is it? Inflation is the downfall of purchasing power for a given currency. The inflation rate in the United States has been relatively stable since the 1980s, around 1-2%, but it has started to accelerate. In 2021, we saw the inflation rate soar to about 7%, and so far this year, we are trending towards 8.3%. Inflation is a contributing factor in the cost of various products. Milk, meat, butter, and flour prices... Read More >

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