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Wrap Technologies Receives Non-Firearm ATF Ruling for BolaWrap 150 and Appoints New Vice President

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WRAP$1.42 −3.40%

Wrap Technologies, Inc. (WRAP) announced that federal regulators issued ruling 2026-2, determining that the BolaWrap 150 device is not classified as a firearm under federal law. Alongside the ruling, the company appointed John “Chappy” Chapman as Vice President of Training and Missions. Shares of the company traded down 3.40% at $1.42.

The non-firearm classification is expected to assist the company in integrating its BolaWrap 150 device into law enforcement nonlethal training programs. By avoiding firearm classification under federal law, police departments and public safety agencies may face fewer regulatory barriers when adopting the equipment.

Moving forward, Chapman will direct a nationwide rollout of the company's non-lethal response doctrine, credentialing systems, scalable training initiatives, and learning management system expansion. Investors will monitor how these combined regulatory and executive updates influence adoption rates among law enforcement agencies.

Key points

  • Federal regulators issued ruling 2026-2 stating the BolaWrap 150 is not a firearm under federal law.
  • Wrap Technologies expects the ruling to support the integration of BolaWrap into nonlethal law enforcement training.
  • John “Chappy” Chapman was appointed Vice President of Training and Missions.
  • Chapman will lead a nationwide rollout of training, credentialing, and learning management system expansion.
  • Wrap Technologies (WRAP) shares fell 3.40% to $1.42 following the announcement.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

Is the BolaWrap 150 classified as a firearm under federal law?

No. Under federal ruling 2026-2, the BolaWrap 150 is officially not classified as a firearm.

Who was named Vice President of Training and Missions at Wrap Technologies?

John “Chappy” Chapman was appointed VP of Training and Missions to oversee training, credentialing, and LMS expansion.

How does the ATF ruling help Wrap Technologies?

Wrap Technologies stated that the ruling will assist in integrating the device into nonlethal law enforcement training programs.