Akerna, a cannabis compliance tech company, says Americans may be indulging in more than just barbecue and pie this Independence Day.
The company estimates that cannabis sales in states where its purchase is legal will reach $450 million in anticipation of the holiday, while, according to WalletHub, Americans are only expected to shell out $371 million for chicken.
Both products still trail behind beef, which is expected to bring in about $804 million worth of purchases.
It’s not that Americans are losing their appetite for chicken anytime soon, Akerna CEO Jessica Billingsley told Cheddar. “I think it’s more about the demand for cannabis as an alternate substance, as something for recreation, as something for health and wellness benefits,” she said.
“We will see sales this week increase by 80 percent, compared to an average week,” said Billingsley. “It’s a holiday spent with friends, not necessarily family.“ Orders are also expected to jump nearly $3.50 higher than the average daily order, which is $97.57.
Akerna also predicts that Americans will spend more on cannabis than wine in 2020.
The company says it calculates these projections by tracking data in more than 20 states, as well as in Puerto Rico and Washington, D.C.
“We provide a regulatory compliance software technology platform to both the cannabis operators ー the cultivators, the manufacturers, the distributors, and the retailers ー as well as a [business-to-government] product to the government agencies to oversee compliance in their jurisdiction,” said Billingsley.
“Because of providing that technology platform, we have this wealth of data over nine-and-a-half years to be able to predict with a very high degree of accuracy what we will see.”
Akerna was formed just last month, following a long-awaited merger between cannabis technology companies MJ Freeway and MJ Tech.
In recent days, Akerna announced that it will be expanding to Europe, with two new clients in Italy and Macedonia, and opening an office in Colombia.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
