MJBizCon 2024 is in the books. Considered one of the largest B2B conferences for the nascent cannabis industry, MJBizCon brings tens of thousands of weed professionals to Las Vegas for a week of networking, product debuts, education, and fun.
While there was a tad less action on the trade show floor this year, the industry elite showed out in force across Sin City. Whether crowded inside the Chandelier Bar at the Cosmopolitan or one of dozens of after-parties, many attendees said this year’s Cannabis Week was about quality, not quantity. Entrepreneurs were focused on their individual missions, whether that be landing the big fish on the line or acquiring the knowledge needed to take that next big step.
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“When we started coming to BizCon in 2017, we were there every day and really felt like we were always in a rush,” explained John Dugas, founder of cannabis emulsion supplier Superior Molecular. “Six years later, we’ve become an established operator and thought leader in the space, so a mere 36 hours in Vegas was absolutely everything we needed.”
Over at the convention center, crowds of canna-pros commingled with National Finals Rodeo (NFR) cowpolks, which coincided with MJBiz. While some may consider the two groups polar opposites, the rise of hemp in markets in places like Texas actually created more common ground than you’d imagine. In fact, the booming hemp was a hot topic at this year’s MJBiz as operators sought out growth opportunities.
Cowboys and cannabis icons descended on Vegas this year, and these are the parts of MJBizCon worth remembering.
Pot pros are cautiously bullish on rescheduling
Many MJBiz attendees who spoke with GreenState were hesitant to offer predictions on what’s to come for cannabis in 2025. Between a new administration heading to the White House and continuing debate around federal reform, it’s hard to gauge the future of weed.
However, many pot pros were optimistic. Paul Nieboer, chief operating officer of retail outfitter Temeka Group, told Greenstate he has high hopes (no pun intended).
“I was talking to someone, and they said, ‘All we have to do is survive 2025.’ I said, ‘Let’s reframe it: let’s thrive in 2025.’ We’re embracing it, we’re running with it, and I think a lot of good things are coming.”
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The ongoing rescheduling process, which is slated to pick back up in mid-January, was a big topic of discussion. The Drug Enforcement Agency (DEA) has several hearings scheduled, giving experts the chance to testify for or against moving marijuana to a less restrictive category. Until then, companies are in a holding pattern, awaiting the final decision to be made—something many experts believe will happen sooner than later.
“I think rescheduling does happen (in 2025),” MJBizDaily reporter Chris Roberts predicted during a “State of the Industry” panel.
While it’s unclear where the chips will fall on federal pot reform, one thing is sure: change is certainly afoot.
Seeds are the future
One of the most interesting developments of MJBizCon 2024 was the addition of seed sales, likely inspired by the success of events such as Spannabis. A section of the expo hall dubbed “The Vault” saw companies like Compound Genetics, Tangled Roots, and Fast Buds offering both iconic and limited genetics. Gelato creator Mario “Sherbinski” Guzman helped curate the experience via Voice of the Plant. The brand seeks to connect breeders from around the world with the goal of working together to further the cannabis space.
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“Our vision is to connect people with plants, and what better way to do it than be at the biggest convention in the world, MJBiz 2024,” Guzman said. “For so long, we’ve had to work on our own, and it was about this competitive drive. But now, at a time when we’ve pushed through and come this far, it’s really a time to lock arms and focus on the future.”
In addition to beans for sale, there was also big news out of the Vault. Seed behemoths Barney’s Farm, I Love Growing Marijuana, and Sensi Seeds announced their three-way merger during the show. Meanwhile, grow icons like Humboldt’s Mendo Dope Boys released their first backcross of the Emerald Cup Award-winning Headies to a rabid crowd.
For Bleezy, a founding member of Mendo Dope, having opportunities to showcase the Emerald Triangle at a place like MJBizCon is a massive chance to highlight the true culture of cannabis.
“We’ve got to keep real-deal farmers in the mix,” the grower-turned-artist told GreenState. “We’ve got to have real products coming out and not get overtaken by these big corporations.”
Vegas is the place to be
MJBizCon is essential for any cannabis tastemaker, thought leader, or entrepreneur eyeing expansion. The key to maximizing the show is playing the game right. Many attendees said that speaking on panels or participating in ancillary programming (be it live podcasting from the trade show floor or presenting Hub state takeovers) was incredibly valuable and the way to make a ticket to MJBiz worth every penny.
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It was also clear this year, more than ever, that while not everyone goes to this conference, everyone comes to Vegas. The High Stakes Stage programming at Planet 13 and Babes in the Bay content suite were prime examples, attracting big weed names for a swath of talks and product demos.
After-parties and happy hours were also popping, filled with folks looking to connect outside the convention center halls. The Sky High at the Cheri event saw hundreds of industry leaders gather on the rooftop of the Paris Hotel. GreenState presented the party along with partners Cann Studio, Canna MGT, Rank Really High, Lit Alerts, Apex Trading, Distru, Myers Security, Canna Spy Glass, Temeka Group, Verdant Strategies, and Xylem Robotics.
Instead of rushing around the convention from booth to booth, attendees were concentrated in one networking-friendly venue at these insular offerings. The warm vibes and flowing libations created a uniquely warm atmosphere rife with opportunity. Thus, companies are often willing to invest more into event sponsorship versus show attendance, knowing everyone they need to meet with is right there.
“The Sky High event at Cheri was nothing short of spectacular,” said Dan Mondello, co-founder and CEO of Rank Really High. “Co-sponsoring with some of the absolute best in the business made for a perfect partnership, and the synergy between us all was truly unmatched. Without question, deals got done.”
MJBizCon 2024 displayed an industry at the precipice of a new reality. Change is lingering in the distance, and practically everyone is wondering, “What’s next?” In the meantime, operators are focused on places where results are more immediate. Emerging markets like Ohio and Minnesota, the booming hemp-derived THC space, and their own unique paths toward prosperity are taking hold, providing plenty of opportunity.
