California and New York Grapple with Cannabis Policy

California and New York Grapple with Cannabis Policy

Chase Hubbard | 01.12.2021 | Jacobsen

Adult use and medical cannabis are now generating over 

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 in the US and generating hundreds of millions in tax revenues for states with legal cannabis programs.  California’s adult use program likely surpassed $4 billion in 2020. Cannabis is big business in California, and hemp not only cuts into profits, but it also exposes the industry to considerable risk from cross-pollination.  The issue of cross-pollination has yet to be confronted in California, or anywhere really.  Current research may help guide policy, but it will take some years to develop intelligent regulations that allow both MJ and hemp to coexist in the field.  Coexisting in markets in another story, and MJ has the momentum that any multibillion-dollar industry has. 

Califo…

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