Good morning.
We’ve got great response so far for our Midwest Cannabis Forum, from both partners and attendees. More on that March 12th event below.
Let’s get to it.
-JB, JR, ZH
Today’s newsletter is 637 words or about a 5.5-minute read.
💡 What’s the big deal?
SALES
Cannabis joins the staples trio of eggs, bread, and milk when snow storms hit
Driving the news: Massive snow storms across the East Coast, Mid-Atlantic and the South, followed by record freezing temperatures, means that people across at least part of the county spent the weekend snowed-in. At least 19 states received about a foot of snow or more, from as far west of New Mexico.
What they’re saying: "It's eggs, bread, milk – and cannabis. Cannabis has become the new staple," Stoops NYC co-founder Chris Kulian told the New York Post after this weekend's snow storm. Kulian said that sales surged last week by $8,000 compared to the same week last year.
Zoom in: These weather conditions are expected to precede a rush to clean out grocery store shelves, numerous dispensaries reported similar results.
Dispensaries across the storm's belt confirmed that heading into the weekend sales approached the level seen on 4/20 and Green Wednesday.
Green Wednesday – the day before Thanksgiving – is typically one of the biggest dispensary days of the year, presumably thanks to the tradition of the “cousins’ walk,” right before the big feast.
The final word: "It was actually not far off, just a few grand away from Green Wednesday," said Chase from High Profile in Steele, Missouri.
-ZH
📣 Quotable
"One of the problems is this has become so prevalent. Suddenly you're going to take it away from them, and then this underground market will develop and there won't be any safety standards," Sen. Amy Klobacher told Nightline when explaining her concerns about the THC beverage market if the hemp ban remains in effect.
We’re excited to officially announce something new we’ve been quietly building with our partners at Grown In.
Cultivated and Grown In are hosting the first-ever Midwest Cannabis Forum on March 12 in Chicago, and applications are now open.
This is not a traditional cannabis conference.
The Midwest Cannabis Forum is a curated, application-only gathering designed to bring together the people actually doing the work in the cannabis industry day in and day out — operators, investors, regulators, lenders, and service providers who are shaping the Midwest market in real time.
Our goal is simple: Create a high-signal room, with smart people, honest conversations, and zero fluff.
Event details: Salvage One, Chicago Wednesday, March 12. Application-only attendance
👉 Apply here: Midwest Cannabis Forum
We’ll be reviewing applications on a rolling basis and space is limited.
We hope to see you in Chicago.
Team Cultivated
⏩ Quick hits
Missouri regulators fined at least seven cultivators last year for violating the so-called "immaculate conception rule," which is when operators illegally bring in clones from another state.
🤝 Deals, launches, partnerships
Minnesota's first municipal dispensary is set to open Feb. 5 in Anoka. The dispensary said it plans to sell products from the Mille Lacs Band of Ojibwe.
🔬 Science & research
Research published in the Journal of Psychoactive Drugs found that 58.6% of individuals who regularly consumed THC beverages were more likely to substitute cannabis for alcohol. This indicates that THC beverages may harm reduction benefits in terms of alcohol abuse.
About half of those surveyed by MoreBetter reported that they feel the effects of THC beverages within 40 minutes after consumption. Of the more than 2,500 participants, 18% said they feel something in the first 10 minutes, while about 30% said it takes longer than 40 minutes.
📰 What we’re reading
Opinion: Why the black market is beating legal weed trade | Washington Post