The week of Nov. 11th – 17th brought several positive headlines. First, California reveals the licensing rules for its marijuana industry; Second, Maryland’s medical cannabis appears ready to launch; and Lastly, but certainly not least, U.S. Attorney General Jeff Sessions indicates the DOJ has no plans to suppress the marijuana industry.
Here’s a closer look at some notable developments in the marijuana industry over the past week.
California moves forward
The next set of emergency regulations for California’s licensed cannabis industry is out, and it’s a monster.
he package – from three different state agencies – totals 274 pages and, taken together, look to be some of the most intricate MJ business rules yet established by any U.S. regulatory authority.
“I’ve gone through pretty much every state that’s gone through this, and I would say this is, by far, one of the most balanced set of initial regulations I’ve seen,” said Avis Bulbulyan, the CEO of Los Angeles-based Siva Enterprises.
“I think it creates a lot of opportunities.”
Bulbulyan, who also serves on a state Cannabis Advisory Committee, emphasized that the rules are not completely finalized, and as of Thursday night, he hadn’t even had time to read them all.
But, from what he’s seen, he’s quite optimistic.
“This is just the beginning,” Bulbulyan said. “This, keep in mind, was the emergency rulemaking procedure because they had to keep up with the Jan. 1 deadline” for when the regulated medical and recreational marijuana market officially launches.
“What you’re going to see over the next months and years is a lot of massaging and tweaking of the regulations.”
There have already been substantial changes from draft regulations released earlier this year that will offer a range of ways into the cannabis trade for entrepreneurs, Bulbulyan noted.
For instance, there are now subcategories of different license types, meaning more opportunity for companies that want to specialize in niches such as shipping or packaging.
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Originally posted by John Schroyer, Bart Schaneman and Kristen Nichols for Marijuana Business Daily