Benzinga Chicago Cannabis Capital Conference 2024 Event Recap

Benzinga’s Cannabis Capital Conference (CCC) is considered North America’s leading cannabis investment and branding conference. The fall 2024 iteration took place Oct. 8-9 in Chicago with more than 2,000 people showing up for two days of incredible content, social equity initiatives and calls to get out and vote.

Javier Hasse, Benzinga’s managing director, says more than 3,000 meetings took place through their networking platform, and the feedback has been amazing. “Many of these connections are already fueling new partnerships and growth,” he commented. “With speakers like Ross Gerber and a consumption-friendly afterparty that was fully Illinois-compliant, it was a powerful event all around.”

Overall, spirits at the conference were high, and the outlook toward the future was optimistic. With the election now just a few days away, we look back on some of the conversations and insights shared by several business leaders in attendance.

Cansortium CEO Robert Beasley now has four Benzinga events under this belt and says each one is better than the last. “They get better and better, bigger and bigger,” he says. “The profile of the connections that you make here is continuing to evolve. I think it’s more valuable today for me than it has been in the past. As the profile changes, as the sophistication of the of the entities that are here changes, it’s become a place that you know you’re going to meet industry contacts that you want to talk to, and some that you didn’t even know you needed to talk to. It’s a great opportunity.”

When it comes to how the election could impact cannabis, Beasley predicts that, regardless of who our next president is, the cannabis industry will continue to make progress.

“I think we’ve turned one of the corners. That’s the neat thing about being in a frontier business—there will be more corners ahead. And right now, we’re on a positive slope,” he says. “There’s a general good vibe coming into the elections that both candidates support descheduling, which is what everyone is hoping for. Whether that’s going to be the magic answer or not, I have no idea.”

Heather Malloy, co-founder and managing partner of the cannabis investment and advisory group, Speedwell Partners, is a regular attendee of Benzinga’s Chicago and Florida conferences and says they are by far the most valuable conferences she attends.

“I always opt for in-person meetings and never have the chance to sit in on as many panels as I’d like,” she says. “So many organic meetings happen when everyone is in one place, and that’s my favorite part of being there.”

Looking ahead, Malloy doesn’t predict significant change coming out of the 2024 election.

“I’d bet that family offices and retail will be more comfortable stepping into (or back into) the capital markets,” she commented. “However, I don’t believe the expected catalysts of Florida and Schedule 3 are enough to bring back institutional capital.  We need regulatory and executive moves to facilitate uplisting, custody and offer clarity for banking, payments and capital markets.  I think real volume and institutional participation will take longer to develop.”

This fall’s Chicago event was Willy Vlasic’s third time attending Benzinga. Vlasic is the CEO and co-founder of Vlasic Bioscience, which sells Vlasic Labs CBD products as well as Vlasic Flower in Las Vegas.

Vlasic Bioscience was founded on the same principles and values that built the Vlasic Pickles brand: quality, consistency and innovation. With a strong entrepreneurial background, we were curious to hear about Vlasic’s experience at Benzinga. In general, Vlasic says he attends to “come and network with the community, and to do it in a highly professional way with all the deal makers.”

Beyond networking with other CEOs and making new financial connections, Vlasic says he also enjoys seeing customers and supporting friends: “A lot of my colleagues and customers are speaking on panels here.”

One of the most well-attended panels at Benzinga was titled “Hemp Vs. Marijuana.” As someone who sells both regulated cannabis on the state level and CBD-only hemp products (non-intoxicating), Vlasic believes hemp should be regulated like cannabis, and the hemp industry should stay away from intoxicating products.

“There’s all sorts of opinions on it. At the end of the day, we need to regulate hemp like cannabis, and we need to leave the intoxicating cannabinoids with the THC businesses on the state level,” Vlasic states. “It’s impossible to regulate children getting access to it, especially with the online presence that it has now, and in the smoke shops. None of those stores are being regulated. So, you know, I do feel strongly that we need to leave the hemp industry to be non-intoxicating products like CBD, CBG, CBN.”

Kevin Adelstein, is one of the original investors of Glass House, before the company went public. October’s Chicago event was his first time attending Benzinga, and he couldn’t be more excited. “I’ve met so many people that I’ve been following and who I have been reading their materials, and I’ve been able to shake their hand and talk to them, so it’s hugely exciting for me,” he said.

Regarding the emerging hemp industry, Adelstein says it’s not great for the cannabis space: “I feel it’s a negative right now because it’s unregulated. And since the plant doesn’t know the difference between hemp and marijuana, I mean, we have to set up some rules for it.”

When it comes to investing in hemp, Adelstein does recognize financial opportunity. “From a growth standpoint, it’s definitely investable, and if it was contained and controlled, I think that it’s viable as an investment because one it can be transported across different states,” he says.

Adelstein also remains optimistic about investing in cannabis. “I feel that things just have to change. They will change—it’s just a matter of when,” he states. “And of course, everyone feels that it’s on the verge now, and I don’t want to be on the sidelines when it happens. So, I continue to invest on a regular basis in the companies that I like the most.”

Andrew Petronanos is the founder and CEO of Dascoli Pharma in Switzerland. The company was founded in 2022 following a change in Switzerland’s laws allowing greater flexibility around medical cannabis prescriptions. Soon after launching, the business also acquired a pharmacy to achieve their goal and mission to create access to medical cannabis.

Currently focused on raising capital for future expansion across Switzerland, Petronanos attended Benzinga for the first time with hopes of making new financial connections.

“It’s been amazing. There’s actually a huge difference between what happens in Europe and the conversations here, because here it’s very political, large capital state regulations and the rest of it, but it’s been fascinating,” he says. “I mean, I’ve met some friends that I’ve known for a long time. It’s great for me to exchange with the U.S. and tell them what’s happening in Switzerland and Europe.”

Everyone at last month’s Chicago conference has smiles on their faces and seemed excited for the future. The ideal size of around 2,000 attendees made it feel small enough to make meaningful connections but also large enough to meet someone unexpected.

Hasse comments that the Benzinga Awards were another event highlight, especially honoring industry changemakers like 40 Tons. Next up, Benzinga heads to Anaheim on Nov. 12 for their California Cannabis Market Spotlight.