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Illicit cannabis markets thrive under prohibition and overregulation

The illicit cannabis market will persist in states that are slow to legalize or have burdened the lawful industry with overregulation, attendees at a cannabis industry convention in New York heard on Thursday.

During a series of panel discussions and presentations at the first day of the Cannabis World Congress & Business Exposition, speakers outlined the obstacles the cannabis industry faces as it competes for market share with the illicit market, also known as the legacy market. Chris Beals, CEO of cannabis technology platform Weedmaps, said the outsized illicit market in states with legalized cannabis, such as California, was due to…

To Read The Rest Of This Article By Sam Reisman on Law360

Published: June 02, 2022

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