A recent survey shows a significant majority of cannabis-related businesses want intoxicating hemp products regulated. But it’s not the same for those who are profiting from it as for those who are not.
Nearly half of hemp businesses expressed a desire for regulatory oversight on intoxicating hemp-derived cannabinoids. 80% of cannabis businesses and 46% of hemp businesses have indicated these products should be regulated in the same way as state-legal cannabis markets. This, according to a report by Cannabis Business Times.
The research sheds light on the growing divide between the cannabis and hemp industries regarding the regulation of intoxicating cannabinoids like Delta-8 and Delta-9. The survey reveals a complex landscape where opinions on regulation vary significantly.
Cannabis Industry’s Stance
The majority of state-legal cannabis businesses support regulation, with four out of five participants advocating for the same controls for hemp derived products as those imposed on medical and adult-use cannabis markets. Many in the cannabis sector feel that the lack of regulation leads to consumer confusion and poses a threat to the industry’s integrity.
According to the survey:
- 80% of state-legal cannabis businesses say intoxicating hemp-derived cannabinoids should be regulated similarly to cannabis products.
- 67% say these cannabinoids confuse consumers.
- 52% see these cannabinoids as a threat to the overall industry.
Furthermore, 56% of cannabis businesses say state and local officials should take legal action to remove these products from retailers in states where they are banned, while 41% support closing down non-compliant retail operations.
Read Also: A Nasty High: Experts Sound Alarm Over ‘Soup’ Of Unknown Compounds In Hemp-Derived THC Products
Hemp Derived Industry Perspectives
The hemp derived industry is more divided. While 51% of licensed hemp businesses oppose regulating these cannabinoids like cannabis, 46% support such measures. In some states, these companies even brought lawsuits to remove the bans. This division might be reflecting different business models and market strategies within the sector.
Survey findings include:
- 51% of hemp businesses say intoxicating hemp-derived cannabinoids should not be regulated the same way as cannabis products.
- 46% say they should be regulated similarly.
- 51% see these cannabinoids as an opportunity for their business.
- 32% acknowledge that these products could confuse consumers.
In this group, a bit more than a third of members consulted said state and local officials should take legal action to remove these products from retailers in states where they are banned.
The Broader Picture
The survey, conducted between May 13 and June 13, 2024, included responses from 303 participants across the cannabis and hemp industries. Meanwhile, with regulatory scrutiny intensifying and legislative changes on the horizon, the future of intoxicating hemp-derived cannabinoids remains uncertain. This is issue is among the most import matters affecting the way cannabis industry is functioning in the U.S. The discussion is gaining momentum, as a silent battle deploys. Cannabis and hemp industries, often composed by similar industry players, must navigate a complex landscape of market demand, innovation and consumer protection to achieve a balanced regulatory framework.
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