Region: Midwest Cannabis Business Conference

Midwest Cannabis Business Conference

SEP. 22-23, 2021
Detroit, MI
Room: 250 A-B
Session: TH07
Time:
Thursday, September 23
2:15PM - 3:15PM

Time Zone:
Eastern Standard Time

Rated M for Mature: Utilizing Private Standards to Mature the Cannabis Industry

Regulations and Business


Room: 250 A-B
Session: TH07
Time:
Thursday, September 23
2:15PM - 3:15PM

Time Zone:
Eastern Standard Time

The alcohol industry’s self-regulation of advertising through the Alcohol & Tobacco Tax and Trade Bureau and the video gaming industry’s self-regulation of E-M video game ratings by the Entertainment Software Rating Board (ESRB) are great case studies for cannabis, proving that self-regulation is always preferable to mandatory regulation. Mislabeling products and making false statements is a systemic problem that damages consumer confidence. It’s also a problem very familiar to executives in the alcohol industry and it boils down to the court of law vs. the court of public opinion. The ESRB was formed in response to parents complaining about violence in their children’s video games. Changes that happen within the ESRB allow ample time to adjust for changes and plan ahead, precisely what the cannabis industry is lacking. During this panel, regulatory experts in food safety, alcohol, and quality assurance will discuss how to bridge the gap between no government regulations and producing safe and quality products, and why it is critical for the cannabis industry’s growth.

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