July 2023 National News: Sports, Social Media Companies Continue Easing Regulations

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Welcome to the latest CWCBExpo national cannabis news update. There are some exciting developments this month, including big changes to NBA drug testing regulations and social media advertising rules. New research also highlights cannabis’s popularity among U.S. military veterans. Read on for more information on the latest happenings and updates nationwide. 

Meta will now allow CBD advertisements on Facebook and Instagram 

Meta, the parent company of Facebook, Instagram, and the new social network Threads, has officially updated its advertising policy to allow the promotion of non-ingestible CBD products. The change came not long after Twitter made a similar announcement in April

The social media giant announced on July 11 that advertisements can now promote CBD products containing up to 0.3 percent THC, which meets the federal definition of hemp, as long as the ads adhere to certain requirements. Meta has also updated its policy for non-ingestible hemp products like hemp fiber or seeds so that businesses no longer need written approval to promote the sale of such items in the U.S., Canada, and Mexico “provided that they comply with all applicable local laws, required or established industry codes and guidelines.” 

This development opens up new avenues for businesses in the CBD sector to reach a wider audience and market their products more effectively. To be clear, however, advertisers will continue to be prohibited from running ads that promote THC products or marketing cannabis products containing related intoxicating components.

NBA removes cannabis from banned substance list 

The National Basketball Association (NBA) and its players union have officially signed a collective seven-year bargaining agreement containing numerous cannabis provisions. The 676-page document removes cannabis from the league’s banned substances list for players and outlines rules allowing players to invest in and promote cannabis brands, with certain restrictions. 

Under the agreement, players will be allowed to hold a direct or indirect ownership interest (whether controlling or non-controlling) in an entity that produces or sells CBD products. These are defined by the federal government as cannabis containing up to 0.3 percent THC by dry weight. Players may also participate in promoting or endorsing brands, products, or services of CBD companies. However, players must first request permission from the NBA and the players’ association first, reports Marijuana Moment

This change opens up exciting opportunities for players to use their influence to raise awareness and support for CBD products, contributing to the growth and acceptance of cannabis in general. Other sports organizations, such as the MLB and the NHL, have loosened their restrictions on cannabis or removed it from their list of banned substances. 

Study finds that cannabis improves life for most veterans 

A recent study found that more than 90% of U.S. military veterans who use medical cannabis say it improves their quality of life, and many use cannabis as an alternative to over-the-counter and prescription medications. 

The study, conducted by researchers at the University of Massachusetts, the University of Utah, and cannabis research institutes, analyzed self-reported data from 510 veterans who said they consume cannabis. Here’s what they found: 

  • 67% of veterans said that they use cannabis daily
  • 30% of veterans said that they consume cannabis to reduce the use of other  medications, including antidepressants (25%) and non-steroidal anti-inflammatory (NSAIDs) pain relievers (17%)
  • 21% said that cannabis has allowed them to reduce their use of opioid-based medications

The study also drew attention to several demographic factors that influenced veterans’ desire to decrease their reliance on prescription medication. It was noted that veterans who were Black, who were female, who served in active combat, and who were living with chronic pain were more likely to report a desire to reduce the number of prescription medications they were taking.

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