Filmed at CannaWest: The Forum Where Leading Canna Operators Connect with Top Regulators & Testing Experts
The opportunity for operators in the canna space is startling. Estimates suggest that the combined medical and adult-use market may be worth $5 billion by 2019 in California alone, while the forecasts for national and global canna markets are revised, upward, on a daily basis. The demonstrated ability of cannabis use to lower America’s $12 billion-plus opioid drug tab suggests that those estimates may be conservative. However, in order to take advantage of this remarkable opportunity to do good and do well, industry players must navigate a new and evolving regulatory framework.
The introduction of regulation in the space has created novel challenges in order to ensure product safety, manage liability and deliver efficacy for every part of the canna supply chain. To take just one example: testing labs suggest that 80% of California-produced cannabis still tests positive for pesticides, which has resulted in the scheduled introduction of mandatory testing in the state. State regulators and health officials—in unmatched numbers—will be sharing notes and driving operators towards uniform testing, labeling, operational standards, protocols and best practices.
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