That makes the total four states where marijuana use is legal for adults 21 and up: Colorado, Washington State, Oregon, Alaska and the District of Columbia. What is unclear is whether neighboring states will be allowed to conduct interstate cannabis commerce. What else isn’t well known is how legal pot will affect these state’s economies. Recently, the managing editor of Marijuana Business Media Chris Walsh was interviewed by Robert Siegel for NPR’s “All Things Considered” program. Walsh said these pro-cannabis laws will be a boon for business.
Walsh is the editor of Business News Daily, and he believes a lot of opportunities will arise in the months and years ahead as these new markets are erected, developed, and expanded upon. When asked who the big players are Walsh said, “You know, big players is an interesting term in this industry because it’s been largely local for most of the industry’s short history.” He went on, “Due to federal laws it’s hard to expand outside of a particular city or state, but we’re starting to see some brands emerge and some bigger companies, like Dixie Elixirs and GFarmaLabs.” These make edible products such as baked goods, sodas, juices, candies, and oils all infused with THC, the psychoactive compound in marijuana. Walsh said there are “hundreds of different options now.”
The other companies doing well according to Walsh are “…ancillary companies. These are those that provide services to the industry in numerous markets.” While researching in the market, the information about the laws of purchasing cbd should be available with the person. It will help in maintaining a good health with plenty of benefits. The purchase of cbd oil for pain is there while having information about the pros and cons of cbd.
Walsh has compared the cannabis industry to the growth of the organic food industry. He recently interviewed Ben Cohen, formerly of Ben & Jerry’s Ice Cream, about the parallels. In organic food, intrepid entrepreneurs pushed hard in the beginning in order to form a movement. Soon big companies saw there was a lot of money to be made, and bought the little guys out. Siegel asked Walsh if he saw a similar scenario playing out with cannabis. Walsh said, “You do have some that are starting to kick the tires. We hear often that companies in the pharma space, big ag., big tobacco, big alcohol are on the sidelines, you know, developing plans for if this becomes legal nationally.”
Walsh said the worst part is trying to navigate regulations. With so much red tape, it can feel like you are caught in a spider’s web. For many budding entrepreneurs all the regulations cost a lot of time and money, and gum up the works. Yet without a national regulating body like the FDA overseeing strength and safety, some pretty standard regulations are also not in place. Packaging is one thing that must be worked out in these new markets, especially for edibles that can often look like carbon copies of popular candies out on the market today, such as pot-infused gummy bears and chocolate bars.
When Siegel asked whether every strip mall will soon have a place selling marijuana, or if its legality will kill demand, Walsh said, “This was always kind of the counterculture, so there’s definitely people who are going to feel that way and feel it’s now just going to become a mainstream pastime and business like anything else.”