skip to Main Content
California Cannabis Outlook Slashed by BDS on Slow Licensing
Forecast for 2018 marijuana sales reduced for second time, Research firm cites new regulations that have hit the industry

New state rules are killing the buzz on California’s cannabis sales.

Legal pot that was once expected to generate $3.7 billion in revenue this year now is forecast to total just $2.9 billion, Greg Shoenfeld, vice president for operations at BDS Analytics, said by phone Wednesday, previewing a report the research firm plans to issue later this week. BDS had previously cut its forecast to $3.5 billion.

The firm, which provides data and consulting services for the marijuana industry, cites the slow pace of licensing for businesses under Jan. 1 rules in the state, Shoenfeld said. The regulations give local governments greater discretion on whether to let marijuana firms operate in their locale, and about 70 percent have opted to ban cannabis businesses, said Alex Traverso, spokesman for the state Bureau of Cannabis Control.

“Until we see a more rapid increase in the number of licenses issued, our forecast estimates are going to be conservative,” Shoenfeld said. [Read More @ Bloomberg.com]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

Europe’s First Adult-Use Cannabis Market Confirmed With Luxembourg Permitting Household Cultivation And Consumption

LUXEMBOURG is to become the first European country to permit adult-use cannabis after the Government announced measures to permit households to cultivate up to four domestic plants. The announcement, earlier today, applies to to all citizens over the age of 18 with the new regulations also allowing for the sale and import of seeds. However,…

Scientists Develop Quick Test for Marijuana Use

FRIDAY, Oct. 22, 2021 (HealthDay News) — Researchers may be one step closer to developing the equivalent of a Breathalyzer for detecting marijuana use. In an early study, scientists found that their rapid test was able to reliably detect THC in people’s saliva in under 5 minutes. THC, short for tetrahydrocannabinol, is the active ingredient…

Adult Use Cannabis and The Workplace

New York Labor Law 201-D This document is intended to address some of the most common situations or questions in the workplace related to adult-use cannabis and the Marijuana Regulation and Taxation Act (“MRTA”). This document does not address the medical use of cannabis. For further assistance with New York Labor Law and the MRTA, please…

NY Cannabis Board Issues New Rules Allowing People To Grow Medical Marijuana At Home

New York’s Cannabis Control Board issued regulations Thursday to allow medical marijuana users and their caregivers to grow their own supply at home. The proposal, now open to public comment for 60 days, would permit the cultivation of up to six marijuana plants in a private residence. The regulation will take effect after the commentary…

More Categories

Back To Top
×Close search
Search