Latest news with #JakeBullock
Axios
18-04-2025
- Business
- Axios
Illinois' THC beverage boom may benefit from Trump's tariffs
As U.S. consumers continue to choose hemp-derived THC drinks over alcoholic alternatives, the Trump administration's tariffs may help the fledgling industry gain more footing in the marketplace. Why it matters: THC drinks have become big business in Chicago, with local breweries transitioning from craft beer. Driving the news: The Trump administration's tariffs on the European Union are expected to increase prices of imported wines, beer and hard liquor products. One of the goals is to force consumers back to American-made products, and THC-infused beverages are mainly produced domestically. Aluminum tariffs could impact THC drink prices, since most are canned beverages, but overall THC beverages could soon cost less than their beer or liquor counterparts. What they're saying:"Consumers have increasingly turned to THC beverages over wine and other alcohol and we're seeing a clear shift in preferences driven by wellness, social experience, and now, economic factors," the THC-beverage company Cann 's CEO Jake Bullock tells Axios. "With tariffs putting additional pressure on imported alcohol, we expect this trend to accelerate." The intrigue: There has been a local movement to ban hemp-derived THC, which most seltzers and sodas are made from, but these beverages have been carved out of pending state legislation. Zoom out: THC drinks could also get more exposure if nightclubs and bars are allowed to sell those products, which owners across the country are hoping will happen with patrons drinking less alcohol. In Illinois, that may have to wait for state regulation. By the numbers: Illinois doesn't break down THC-infused beverage sales in its cannabis revenue reports, since it is not regulated under the state. The state set a record with over $2 billion in sales of regulated cannabis products in 2024. Nationally, the THC-infused beverage market has grown over 1,000% since 2020. In 2023, hemp-derived THC drink sales hit $2.8 billion. Industry insiders expect that number to multiply 10 times by 2033. The bottom line: "Tariffs represent an opportunity for more mainstream consumers to experience cannabis-based alternatives to alcohol," Grownin's CEO Marcy Alspach tells Axios.
Yahoo
21-03-2025
- Business
- Yahoo
Company behind Edible Arrangements is selling edibles, THC-infused drinks: 'Defining moment'
The company behind Edible Arrangements is branching out to produce and sell different types of products: actual edibles. As of Thursday, the newly launched online marketplace is now selling THC-infused products like drinks, chews and enhancers from various brands to customers in Texas. Edible Brands has plans to rapidly expand into "legal markets" across the Southeast, including Florida and Georgia, the company said in a news release. Select products will be sold and shipped in parts of the U.S. where cannabis is legally permitted in the coming weeks. "This is a defining moment for the hemp industry," Jake Bullock, co-founder and CEO of queer-owned cannabis brand Cann, said in a statement. "A high-quality marketplace like has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward." also announced its plan open a flagship store in Atlanta's Inman Park neighborhood, a location set to serve as a prototype for a limited franchising program. "Edible Brands' extensive franchise network aims to democratize access to the THC industry, which has been historically restricted by regulatory barriers," according to the news release. Here's what to know about a new venture started by Edible Arrangements' parent company, Edible Brands, Inc. New study: Cannabis users under 50 are 6 times more likely to have a heart attack describes itself as "premiere destination" for health and wellness products. The business offers an "exclusive selection of high-quality, infused products designed to enhance a balanced lifestyle," the website reads. "We've curated a collection of the nation's finest hemp-derived THC drinks and edibles to meet your every need." A "robust education center, reliable delivery, and partnerships with leading product innovators like Cann, Wana, and 1906" separate from the pack in an industry they say faces "consumer challenges" as a result of market saturation, inconsistent quality and testing standards. "We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them," Thomas Winstanley, executive vice president of told CNBC on. 'But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products.' More: Vast majority of cannabis users drive afterward, report says. These are the risks. The THC dosage of products offered on varies but hover around 5 milligrams per serving, Winstanley told CNBC. says that the edibles and beverages they advertise contain less than 0.3% delta-9 THC, meaning that the company is in full compliance with the Farm Bill, a comprehensive law that covers various aspects of agriculture, food and rural development in the United States. Cannabis remains illegal at the federal level, but it is legal in 24 states for recreational use and 39 states for medicinal use. Contributing: Hannah Yasharoff, USA TODAY This article originally appeared on USA TODAY: Company behind Edible Arrangements now sells THC-infused products Sign in to access your portfolio
USA Today
21-03-2025
- Business
- USA Today
Company behind Edible Arrangements is selling edibles, THC-infused drinks: 'Defining moment'
Company behind Edible Arrangements is selling edibles, THC-infused drinks: 'Defining moment' The company behind Edible Arrangements is branching out to produce and sell different types of products: actual edibles. As of Thursday, the newly launched online marketplace is now selling THC-infused products like drinks, chews and enhancers from various brands to customers in Texas. Edible Brands has plans to rapidly expand into "legal markets" across the Southeast, including Florida and Georgia, the company said in a news release. Select products will be sold and shipped in parts of the U.S. where cannabis is legally permitted in the coming weeks. "This is a defining moment for the hemp industry," Jake Bullock, co-founder and CEO of queer-owned cannabis brand Cann, said in a statement. "A high-quality marketplace like has the power to reshape the future of THC products and drive the long-term industry growth we've all been working toward." also announced its plan open a flagship store in Atlanta's Inman Park neighborhood, a location set to serve as a prototype for a limited franchising program. "Edible Brands' extensive franchise network aims to democratize access to the THC industry, which has been historically restricted by regulatory barriers," according to the news release. Here's what to know about a new venture started by Edible Arrangements' parent company, Edible Brands, Inc. New study: Cannabis users under 50 are 6 times more likely to have a heart attack What is describes itself as "premiere destination" for health and wellness products. The business offers an "exclusive selection of high-quality, infused products designed to enhance a balanced lifestyle," the website reads. "We've curated a collection of the nation's finest hemp-derived THC drinks and edibles to meet your every need." A "robust education center, reliable delivery, and partnerships with leading product innovators like Cann, Wana, and 1906" separate from the pack in an industry they say faces "consumer challenges" as a result of market saturation, inconsistent quality and testing standards. "We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who have been hearing about them," Thomas Winstanley, executive vice president of told CNBC on. 'But it's different when you walk in and see these products at a gas station, instead of seeing a collection of the nation's leading products.' More: Vast majority of cannabis users drive afterward, report says. These are the risks. How much THC are in products? The THC dosage of products offered on varies but hover around 5 milligrams per serving, Winstanley told CNBC. says that the edibles and beverages they advertise contain less than 0.3% delta-9 THC, meaning that the company is in full compliance with the Farm Bill, a comprehensive law that covers various aspects of agriculture, food and rural development in the United States. Cannabis remains illegal at the federal level, but it is legal in 24 states for recreational use and 39 states for medicinal use. Contributing: Hannah Yasharoff, USA TODAY
