Thailand, where a billion-dollar cannabis industry has blossomed since the country became the first in Asia to experiment with decriminalization in 2022, is poised to make the drug illegal again.
Inspired by a backlash to the thousands of shops that have sprung up around the country – but also the Thai cannabis industry’s failure to deliver on promised potential – all three parties likely to prevail in national elections on Feb. 8 have promised to impose restrictions, Bloomberg News reported.
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That’s left cannabis business owners and advocates in Thailand feeling burned, and some of the North American players that have expanded to the region are pondering next steps even as they grapple with unprofitability.
Did Thailand’s cannabis rush fizzle?
Thailand decriminalized cannabis in
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