Legal cannabis is a rapidly evolving industry that has been generating significant headlines recently. As the debate about legalization continues, it’s important to understand how this new market works so you can take advantage of its many opportunities.
In this blog post, we’ll cover some basics on understanding legal cannabis and what you need to know to participate in this burgeoning industry today.
Basics of cannabis
Legal cannabis refers to various products derived from the plant Cannabis sativa L. or its chemical compound, Cannabidiol (CBD). This plant can be used to produce three major types of products:
– Sativa, which has a stimulant effect
– Indica, which has a sedative or relaxing effect
– A combination of the two is called “hybrid” strains.
Cannabis is consumed through various methods, including smoking and vaping dry plant material (such as rolling it in paper and lighting), vaping plant extracts (such as oils, waxes, or liquids), and eating products such as baked goods.
The legalization of cannabis for recreational purposes means that adults can access cannabis legally without getting a doctor’s prescription. Legalization differs from decriminalization because legal status still deems the product illegal but reduces penalties for possession and sale.
Three Components of a cannabis company:
Three components make up a legal cannabis company. The first is cultivation, which refers to growing marijuana plants either indoors or outdoors. The second part of an operation is processing, which transforms raw flowers into a concentrate or extract. The third is sales, which involves selling cannabis products on either storefronts or online marketplaces.
Cannabis businesses are regulated at the state level by government agencies, including agriculture and health services. These entities determine rules such as how much marijuana can be grown within their boundaries and what pesticides may be used in cultivation. Mountain Annie’s Dispensary is a great source for your cannabis if ever you were considering it!
There are three main licenses for participation in the legal cannabis industry. These include:
– Cultivator’s license, which allows you to cultivate plants and sell them across state lines if authorized by the local jurisdiction
– Processor’s license, which permits you to turn raw flowers into concentrates or extracts for sale.
– Retailer’s license, which allows you to sell cannabis products on either storefront or online marketplaces.
Legal cannabis is a new industry with great potential and lots of uncertainty and risk, so it’s important to do extensive research before committing your time and money. However, making sure you have the basics down will help you take advantage of this exciting opportunity as soon as possible!