Cannabis Business Executive
On December 7, 2018, California’s three cannabis licensing authorities submitted final versions of the state cannabis regulations scheduled to be approved by January 16, 2019. California’s Bureau of Cannabis Control (Bureau) submitted a final version of Section 5032 of the regulations that substantially limits commercial cannabis activity between licensed and unlicensed entities. Section 5032(b) states that “Licensees shall not conduct cannabis activities on behalf of, at the request of, or pursuant to a contract with any person that is not licensed under the Act.” Read More
Death by a thousand cuts:’ California’s first year of legalized pot is no smooth trip
The legal marijuana market, so long a twinkle in the eye of the cannabis cognoscenti, has hit hard times in California, where high prices, red tape and competition from the black market have cast a pall over what was supposed to be a triumphant first year of recreational sales.
The cost of legalization was so high in 2018 that hundreds of growers and retailers went out of business, the number of available products spiraled down, tax revenues from sales fell below projections and the black market revved up, according to industry officials and business representatives.
It was, said one insider, “death by a thousand cuts.” And the drip, drip continued this month with the recall of thousands of pounds of marijuana, extracts and products after a Sacramento laboratory was caught faking test results for 22 pesticides over a four-month period.
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One Year Of Legal Pot Sales and California Doesn’t Have the Bustling Industry it Expected.
MARIJUANA RETAIL REPORT
Here’s how Year One of legal cannabis in California played out. Many hope playing by the rules will be more profitable in 2019
California Is Really Screwing Up Its First Year of Recreational Cannabis
Oregon’s got about a tenth of California’s population but more recreational weed shops than its southern neighbor.