According to data from Arcview Market Research and BDS Analytics, Washington, D.C. can generate $26 million annual medical marijuana sales by 2024.
While this is good news, experts believe that the district has one of the slowest sales growths in the whole of America. This can be attributed to the tension between district laws and federal regulations.
According to a partner firm in Washington, Kevin Bell, federal laws can ‘usurp’ the state’s rights but provides a green light for local governments to create their own laws or rules on cannabis.
“It certainly has its nuances, unlike other states. The irony is that Congress and every relevant federal agency resides within D.C.,” said Bell.
True enough, when the state developed rules and laws on marijuana cultivation and distribution for the region, the federal government became a ‘source of pain.’ The federal government’s conservative beliefs and perceptions led to the restrictions in terms of fund allocation and trying to push things forward.
The ‘overly burdensome’ laws and regulations affect the district’s cannabis market as a whole. According to D.C. Offit Kurman principal Jason Klein, Washington’s poor cannabis constructed program created a monopoly for chosen operators.
Additionally, the district also refused to enforce the laws on the black market, which up to now, continues to thrive. The lack of law enforcement also undermines the operating environment for medical producers.
‘Push and Pull’ Scenario
The recent turn of events, when a pandemic was announced, led to federal government adjusting regulations on curbside and delivery services. Moreover, telemedicine visits are granted temporarily to ease the threat of COVID-19.
These measures are already in place in some states and D.C. is only getting started to operate in such a manner. Klein said, “[The market] is being pushed and pulled in many different directions, but certainly not growing in the way its counterparts in other states have.”
The lack of enforcement continues to hinder the cannabis market in D.C. in achieving greater things, especially now that people are staying at home and needing their cannabis supplies.
D.C. patients face a slower response from the local government because of the tension with the federal governing bodies. As a result, progress is limited and patient consumption is not expanding.
Slow Cannabis Consumption Progress
A bold move to expand medical marijuana consumption was last year when D.C. lawmakers passed emergency legislation.
The said legislation allows the consumption or administration of medical marijuana on school grounds. This prompts a wider consumption of cannabis to those in need of treatments, especially children suffering from seizures and other health conditions.
Lawmakers need not need a congressional review to pass the emergency legislation. Prior to the passage of this emergency legislation, most campuses had a different protocol on how to administer medical marijuana.
The data from the Arcview Market Research and BDS Analytics revealed that CBD sales would surpass $20 billion come 2024.
Although considered to have one of the slowest medical marijuana sales in the country, will the DC be able to hit this figure? Share your thoughts on the comment section.