The sports industry is witnessing a landmark normalization of cannabis, highlighted by the WNBA’s recent collective bargaining agreement which removed cannabis from its prohibited substances list in favor of supportive substance abuse treatment programs. While this signals a new era for athlete endorsements and professional branding, the broader cannabis and hemp sector faces a precarious future. Blunt Business speaks with Nick Richards, Partner and co-chair of the cannabis law practice group at Greenspoon Marder.
Businesses are currently bracing for a November 12th federal deadline that could redefine “illegal hemp,” potentially outlawing 95% of current CBD products and creating significant financial and regulatory hurdles, including the looming threat of Section 280E tax penalties.
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