By House of Fuego with High at 9 News Follow House of Fuego's LinkedIn here, or Hannah Vysoky's Newsletter (Melted Wax)
Last week, the International Cannabis Bar Association held a live committee meeting to discuss their filing with California’s Department of Cannabis Control to request the allowance of regulated, interstate cannabis sales, which presents no legal risk to the state.
This monumental policy change would be a victory for the nation’s cannabis industry and its millions of customers, who have long struggled with the confusion of varying state cannabis regulations.
Currently, 15 states and the District of Columbia have laws that allow for the recreational sale of cannabis to adults 21 and over. With the passing of the new act, businesses from these states could now legally ship products to other states with legal cannabis or hemp laws. This could open up new markets and opportunities for the industry, making it easier to access products and services.
New Business Opportunities for Cannabis Across the Country
Allowing for easier access to cannabis products also provides more options for consumers. Customers now have access to various products and strains, with the added convenience of security and quality assurance. In addition, with the interstate sale and transportation of cannabis, customers can get a much wider variety of products than previously available because of the geographic proximity between states that produce proper regulation and reliable verification standards.
Introducing interstate cannabis commerce will provide new business opportunities within the industry. Companies can expand their reach and open up new markets within legal states. They will also be able to take advantage of the ability to develop and ship nationwide rather than being limited to their state lines.
This could also mean new investments and jobs within the industry as companies look to expand their operations and customer networks.
Unresolved Issues
However, there are still some unresolved issues to consider, such as interstate tax collection, the risk of interference from the federal government, and potential limitations by individual states regarding what types of products are allowed to be shipped. Despite these concerns, this can be a landmark opportunity for the nation’s cannabis industry that could open up new markets, increase consumer access, and create more jobs and investments.
Although it may take some time before the full impact is felt, the changes could be monumental.
We’re on the Cusp of Cannabis Interstate Commerce
With more states continuing to legalize cannabis, the nation is on the cusp of a new way of approaching cannabis commerce that could have a transformative effect on the widespread industry. The new law not only addresses legal and logistical issues but could result in more economic opportunities, more access to the products people want, and more jobs within the industry.
The future looks bright for interstate cannabis commerce and its potential to reshape the cannabis industry.
