New Jersey’s adult-use marijuana market is caught in a “doom loop,” and the regulatory commission is responsible for the problems, according to a report by the state’s Cannabis Trade Association.
The report shows the slow pace of licensing, delta-8 THC products and poor enforcement of the illicit market means the state is losing out on millions in tax revenue, The Philadelphia Inquirer reported.
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Jeff Brown, executive director of the Cannabis Regulatory Commission (CRC), said the agency is transparent about timelines.
“We understand that business owners have to make decisions, and we try to be up front with expectations so that people can plan accordingly,” he told the newspaper.
According to the Inquirer:
More than 2,000 cannabis business applications have been submitted since December 2021. About 400 are still being processed and 1,399 have been approved, Brown said. Applicants can expect to wait three to
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