HURDLES AHEAD
The major hurdles facing US cannabis: Weedmaps CEO weighs in
Weedmaps CEO Chris Beals appeared on Yahoo Finance to talk about the biggest barriers facing legalization and the industry.
- When it comes to getting legislation through the Senate, Beals said it really comes down to the president and his administration, who is opposed to cannabis reform. “I think nobody in the Democratic caucus wants to see an internecine war breakout before the midterms.”
- Rather than federal reform, Beals identified the limited number of licences available in some states as “the single biggest issue” facing the industry, which he said drives consumers to the illicit market. “…a lot of the harm that’s being inflicted is not from federal illegality,” he said. “It’s from states not issuing enough licences because the biggest correlating factor to these high illicit market rates is, you have to drive too far, where there’s not enough robust competition on pricing or product selection.”
In November, Beals joined BofC Live to talk about the current and future of states of cannabis in North America. Watch.
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STRONG LEGACY
New York dispensaries proliferate despite warnings
Since cannabis was legalized in New York last March, it’s easier than ever to buy flower, pre-rolls and gummies in NYC, reports Gothamist. The problem? Dispensaries aren’t licensed to sell yet, and are ignoring warnings from state regulators.
Each store, some of them chains, have a different vibe:
- Midtown’s Weed World van blasts music and sales reps have to shout
- Nearby Indoor Cannabis plays quieter music and has a more curated selection
- The Lower East Side’s Street Lawyer Services, which has locations in DC as well, which uses the “gifting” loophole, selling videos and mixtapes with a bonus cannabis gift
“It’s a great thing,” said a customer at Street Lawyer Services. “I feel like it’s more regulated and safer. I like walking into a store better than some random guy coming to my house.”
MEET ME BEHIND THE MALL
Cannabis stores open in Canadian malls and airport
The cannabis retail landscape is shifting from bustling high streets to malls and airports, reports Canadian Press.
- Copilot will be Canada’s first airport cannabis store, scheduled to open at B.C.’s Prince George Airport this summer
- There are now eight Tokyo Smoke stores in malls across Ontario, including Eaton Centre and Rideau Centre
- High Tide is targeting plazas and malls, such as Winnipeg’s St. Vital Centre
- There’s even a cannabis store inside the infamous Dufferin Mall in Toronto
But there are some unique challenges to opening in malls and airports.
Stores often can’t be located near food courts, where children are in close proximity, and there must be security footage of deliveries coming into the store from the loading dock. And airlines have already pushed back on airport stores, saying they would encourage pre-board consumption. (Yes airlines, because no airports have free-flowing booze…)
