Chaotic regulatory climate takes toll on weed clientsDecember 28, 2022 – Media Mention
Cannabis Counsel, Michelle Mabugat, recently shared her commentary with the Daily Journal regarding California's regulatory environment in the cannabis industry.
"They said no to rescheduling a few years ago, but we'll see whether we get anywhere this time."
Biden, she added, "got dragged a bit for throwing a political nugget to voters just before the midterms, but overall his rhetoric was a good thing."
"A lot of folks folded or sold out for cents on the dollar," Mabugat said of cultivators and retailers. "There was a lot of market contraction. But now that distressed licenses are coming under control and the cultivation tax has been removed, I see hope for the future. I'm optimistic about the industry's ability to bounce back."