Wrap Technologies, Inc. (NASDAQ:WRAP) ("Wrap" or, the "Company"), a global public safety technology company, today announced that the ATF has issued Ruling 2026-2, formally determining that the BolaWrap® 150 is not a "firearm" under the Gun Control Act (18 U.S.C. § 921(a)(3)) and not an "any other weapon" under the National Firearms Act (NFA).

The ruling, signed by ATF Director Robert Cekada and which was effective as of July 2, 2026, states that the BolaWrap 150 is not a "weapon" because it is not an instrument of offensive or defensive combat. The ATF affirmatively classifies the BolaWrap 150 as "merely an instrument of restraint." The ruling is grounded in the U.S. Supreme Court's 2025 decision in Bondi v. VanDerStok, 145 S. Ct. 857 (2025), and explicitly supersedes any prior ATF classification of the BolaWrap 150, removing the federal regulatory ambiguity that the Company believes has historically complicated BolaWrap procurement across multiple market segments.