Administrative/Regulatory
Dec. 28, 2022
Chaotic regulatory climate takes toll on weed clients
A gloomy recent forecast predicted that California’s struggles with legal marijuana could lead to “an extinction event” created by oversupply, high taxes and licensing fees and depressed wholesale prices that have led to cash-flow shortages for farmers across the state. Hundreds, if not thousands of cultivators are in danger of going under, according to MJBizDaily, a trade publication.
California’s legal cannabis industry has fallen on hard times that challenge their small business clients, lawyers said, as the realities of a chaotic regulatory and retail environment keep profitability elusive — despite one new report that projects a $72 billion national market for legal weed by 2030, more than double the current estimation.
That happy outlook down the road contrasts with a gloomy recent forecast that California’s strugg...
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