The Canadian marijuana market started off with a bang when it became legal in 2018. However, fast-forward a few months, things are looking a little different. Now, with the introduction of the U.S. 420 Bill aiming to legalize adult-use marijuana federally, there are some things Canada’s market can teach the states.
Some stores are running out of supplies so fast, they need to close shop for four days a week and most notably, the black market is thriving. In 2019, it is said the black market will control 71% of the industry in Canada. With the US making strides forward to legalize marijuana federally with the recently introduced 420 Bill, there are certain things the country can learn from Canada.
A few glaring issues are:
- Ensuring there is enough supply for the demand
- Have regulations for edibles set out clearly
- Watch the black market closely – as taxes and supply can help drive it stronger
- Have a good process for looking over licenses and applications