In a WeedWeek exclusive, I wrote about the industry’s ongoing regulatory issues:
“From a regulatory perspective, cannabis remains uniquely slippery. The industry operates largely in cash, since many companies can’t obtain bank accounts and other basic financial services. Marijuana also remains federally illegal, and the country’s illicit market is far larger than the combined, regulated state markets.
“As the industry grows wealthier and the large multistate companies compete to increase their footprint, the, regulatory issues are only getting thornier. Further complicating matters, each legal state has its own laws for regulators to enforce and cannabis companies to interpret.”
- Last week’s newsletter discussed a lawsuit California filed against Lowell Herb Co. alleging the company engaged in commercial activity without a license at one facility over a four-month period. Lowell responds that it is working with authorities to resolve the matter. “We have never released a product to the market that has not been tested in a State-licensed testing facility,” the company added.