What makes the cannabis industry so exciting?
One of the things you will hear most commonly from anyone who has a career in the industry, or who runs a business in the industry, is that the world of cannabis is anything but boring. For starters, it’s an industry based entirely on a plant that remains federally illegal to produce, distribute, and possess.
Luckily, the federal government has not attempted to interfere (much) with the cannabis markets in states where it has been legalized — although there remains much anticipation about the possibility of them doing so. Additionally, cannabis businesses that operate in state-legal markets are undoubtedly more likely to be targeted by the IRS for audits, in part because the federal government has still not created a safe pathway for the industry to access formal banking services.
What is the difference between state markets?
Among the states that have legalized, there are a wide variety of different market structures in terms of the regulations and legal frameworks that have been established in each state. For example, some states limit personal possession outside the home to 1 oz of flower, while other states set a higher cap or no cap at all.
Some states allow citizens to grow a certain number of plants themselves. Some states have a cap on the total number of retail and producer licenses available to startups who want to get in on the industry, whereas some states do not set a cap (this approach is more equitable and results in more opportunities for more people). In some areas, there are even licenses for social use clubs and establishments where cannabis consumption is allowed onsite.
What is this website all about?
Ganjapreneur’s goal is to provide cannabis entrepreneurs with the information and knowledge they need to keep up with the rapid pace of the cannabis industry. We also want to help create an industry that is ethical, inclusive, and sustainable — and you will see this reflected in much of what we write about. If you are starting or already operating a business in the cannabis space, sign up for our email newsletter to get news updates delivered daily!