Chaotic regulatory climate takes toll on weed clients

Cannabis Counsel, Michelle Mabugat, recently shared her commentary with the Daily Journal regarding California's regulatory environment in the cannabis industry.

Excerpts: 

"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."

Resources

• Daily Journal (subscription required)