The cannabis industry has grown exponentially over the past decade and legal cannabis sales are expected to reach $30 billion by 2025. As the industry continues to expand, it is important to understand the regulatory landscape that governs it. This article will provide a brief overview of the current regulatory landscape of the cannabis industry.
At the federal level, cannabis is still considered a Schedule I controlled substance. Meaning it is illegal to possess, manufacture, distribute, or dispense Cannabis or any Cannabis product in the United States. However, many states have enacted their own State laws allowing for the medical and or recreational use of cannabis. State laws vary widely, but generally, they allow for the cultivation, possession, and sale of cannabis products as long as the state gets their tax.
At the state level, the regulation of cannabis is primarily handled by state agencies. In many states, the Department of Agriculture is responsible for regulating the cultivation and sale of cannabis. The Department of Health is typically responsible for regulating the production and sale of cannabis-infused products. Additionally, many states have created Cannabis Control Boards to oversee the industry and ensure compliance with state laws.
At the local level, many cities and counties have enacted their own regulations governing the cannabis industry. These regulations typically include zoning restrictions, licensing requirements, and health and safety standards with many localities implementing taxes on all cannabis businesses.
The cannabis industry is still relatively new, and the regulatory landscape is constantly evolving. As the industry continues to grow, it is important to stay up to date on the latest regulations. It is also important to work with experienced attorneys and cannabis consultants to ensure compliance with all applicable laws and regulations.
In the state of New Jersey the group in charge of approving your Cannabis Business application be it growing, distributing or selling have come up with a different approach than most states. They will provide you with the education and documentation to help aid with the complete application process. You can find the information at NJBAC Cannabis Training Academy.
With things moving so fast in the industry stay up to date with the latest Policies.Share: