Marijuana Sales Continue to Decline in Colorado
A recent trend shows cannabis sales in Colorado have been on a sharp decline over the last year. Data from the Colorado Department of Revenue showed marijuana sales for April 2022 to be around $153 million. This number is a 25 percent decrease from April 2021 and is five percent lower than March 2022. The sales decline is impacting businesses in the area, as all seven locations for the Denver-based chain Buddy Boy recently closed as a result of decreased sales as well as strict purchase limits.
EPA Workers Are Prohibited from Consuming Cannabis or Investing in the Industry
Last week, the Environmental Protection Agency (EPA) sent out an email reminding its workers that marijuana use is prohibited. The email from EPA’s acting assistant administrator in the Office of Mission Support stated that it wanted to reiterate the federal policy on cannabis use. Even though hemp products with less than 0.3 percent THC are federally legal, this does not change the policies already in place for a drug-free work environment. EPA reminded its employees that cannabis use while off duty could still result in disciplinary action.
Maryland Residents May Not See Legal Cannabis Until 2025
Many industry experts predict that voters in Maryland will legalize adult-use cannabis this fall. However, officials are voicing their concern that the commercial market for the state may not officially launch until 2025. If and when voters pass the measure, state lawmakers will still need to estbalish a regulatory framework for the industry. Once the regulations are in place, officials will need to set the rules and start the licensing process, and those awarded licenses will need time to develop and grow their business. Lawmakers are hopeful that the same mistakes made with the state’s medical marijuana program will not be repeated with the adult-use market, should it become legal.