Critics say a powerful lobbying group is leading the charge toward an industry that would leave the little guy behind.
As an emerging industry with sky-high revenue projections, lofty social-justice promises, and ground rules currently being written from scratch, no business in America prompts ready comparisons to Silicon Valley like legal cannabis.
But though analysts project legal weed sales to balloon from $17.5 billion last year to $70 billion by 2028—exponential growth fueled by the beginning of adult-use sales in East Coast states like New York and the potential of a legal national market, as the U.S. Senate for the first time seriously debates federal legalization—cannabis businesses in legacy West Coast states like California and Oregon are struggling. Among other problems, they’re being squeezed by high taxes, low margins, and oversupply as companies large and small rush to enter the fray.
As an emerging industry with sky-high revenue projections, lofty social-justice promises, and ground rules currently being written from scratch, no business in America prompts ready comparisons to Silicon Valley like legal cannabis.
To Read The Rest Of This Article By Chris Roberts on The Daily Beast
Published: November 08, 2021
Founder & Interim Editor of L.A. Cannabis News