The legalization of cannabis in North America is a new business, and as such laws and regulations are constantly being passed. This is big money for growers and sellers, the medical field and of course the government. Canada is 100% legal to grow, sell and use recreationally. The problem with legalizing edibles is that edibles were overlooked while drafting the initial laws.
The problem now is figuring out the liabilities, the problem with black market sales and most importantly who is going to make all the money. Legalization is set to pass. And it’s all bit more complicated than just buying a hash brownie.
The Food Industry
Aside from the Government, the food industry has the most to gain. The Food Industry in Canada does over $200 Billion dollars in revenue. This includes multiple markets like food service, food wholesale and retail, delivery, transportation industries, distribution and many more. And fallout income is estimated to be at least as much in surrounding businesses.
Food is a very restrictive business, laden with laws, regulations and governmental compliances. Also, issues with food recall, freshness and potency create issues and safety concerns. Bodies like the FDA and Canada’s Parliamentary Health Committee oversee all facets of Public Health. And none more so than the Food industry.
A rush to pass Bill C-45 left out the very complicated issues with food and public safety, in order to get weed legalized. It passed quickly and easily. The time needed to adjust the law to include edibles was secondary. However, bills are being passed now that will make edibles legal throughout the country very soon.
The Government has the prime directive to regulate public health issues. They also are in the business of making money. And believe me, your government cares far more about making money than they do your health.
However, in the case of cannabis legalization all parties benefit. The problem legalizing edibles is the harmful potential of combining THC and CBD with safe food products. Another delay is of course so that the Government can figure out how not only to regulate but tax and control everything. It is expected that over 90% of cannabis users would use edibles. That is big money.
The regulatory landscape is constantly changing as edibles become legal in new places each day. Health Canada is busy creating regulations for labelling, dosage and other applicable laws, of which there are too many to list. In the end, the government will be making money straight from the farm to your table every step of the way.
Business and Medicine and Money
It’s about the cash. And there’s an almost incalculable amount to be made. It starts with the plant itself and the farmers and growers. Along with that come the processors and testers and retailers. These retailers stand to make billions in both the public recreational sector and the private medical industry. CBD has shown prowess in fighting off multiple serious illnesses and ailments. Positive test results and patient studies have launched cannabis into the limelight. Doctors are finally realizing the healing properties and prescribing cannabis with remarkable results. In the public sector, those using cannabis recreationally is booming beyond anyone’s expectations.
Canada is likely to follow the trend of America concerning growth and income potential. California and Colorado saw sales increase over 60% in sales over both of the last two years. Moreover, the trend shows that as cannabis revenue is increasing alcohol sales are falling among cannabis users. That doesn’t help the medical sector as there is more money treating the sick. But it does greatly benefit the user.
Cannabis edibles make for great medication as well as great fun. The problem with legalizing edibles is quickly becoming a thing of the past. The road was long and tricky. But it’s getting done. Everyone is making money. People are getting well. And best of all everyone is happier.