The cannabis industry is closely watching as California Governor Gavin Newsom implements emergency rules that could significantly restrict the sale of hemp-derived products. These potential restrictions, aimed at controlling hemp’s accessibility in the state, have sparked concern among industry operators and experts who fear it could have ripple effects across the cannabis market.
Luna Stower, chief impact officer at Ispire, highlighted the potential impact of these rules ahead of her participation in the Benzinga Cannabis Capital Conference. Stower, who has over a decade of experience in the cannabis industry, believes these regulations could stifle innovation and limit economic opportunities in a state that has been a leader in cannabis reform.
Newsom’s proposed regulations would impose stricter limits on hemp-derived products, including those containing cannabinoids like CBD. Stower argues that this could hinder the growth and development of hemp-related businesses, particularly in California.
“Governor Newsom’s proposed restrictions could have significant ripple effects across the cannabis industry, particularly in how we approach hemp-derived products,” Stower said. She emphasized the potential economic consequences, stating, “Limiting access to these products risks undercutting innovation and economic opportunities within California, which has historically been a leader in cannabis reform.”
One of Stower’s main concerns is that California, often seen as a trendsetter in cannabis legislation, could influence other states to follow suit. If similar restrictions were adopted nationwide, it could significantly impact access to hemp and its derivatives, which are widely used for their therapeutic benefits.
“Moreover, if California, as a trendsetter, adopts these emergency rules, it could inspire similar restrictions nationwide, stifling broader access to hemp’s therapeutic benefits,” Stower explained.
Stower also called for a more unified regulatory approach between hemp and THC products. She argues that clearer policies are needed to balance consumer safety with the need for economic growth in the cannabis space.
“We need more clarity and cohesion between hemp and THC regulations to avoid overburdening operators while ensuring consumer safety,” she emphasized.
Stower’s concerns reflect a growing fear within the industry that the regulatory landscape for hemp is becoming increasingly fragmented, causing confusion for operators and consumers alike. As California’s proposed restrictions continue to develop, industry leaders, including Stower, are calling for greater regulatory clarity to ensure that the hemp and cannabis markets can thrive without unnecessary barriers.
These issues are expected to be a central part of the discussion at the Benzinga Cannabis Capital Conference, where industry leaders will share their views on the future of cannabis and hemp regulation.
