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About This Episode
As one of our nation’s fastest growing sectors, the cannabis industry is on the precipice of complete liberation from the confines of prohibition – or so it would seem. With nearly every blue-ticket presidential candidate advocating for federal legalization and public acceptance at an all-time high, marijuana policy reform is beginning to appear inevitable. With an economic upside that’s hard to ignore, it’s no longer a matter of if, but when.
But “When?” is a good question.
Although business is thriving, it’s not without a lot of regulatory challenges no other conventional industry has ever had to overcome. Banking, insurance, patient access and standardization are just a few of the issues stakeholders have to work around on a daily basis. Cannabis enterprises are also subjected to a higher level of scrutiny than conventional businesses. But, despite the extraordinary challenges, the industry is still thriving and the economic upside is becoming harder for lawmakers to ignore. While pro-cannabis measures addressing the barriers, like the States Act for example, have been passed in Congress, they have yet to see the light of day in the Senate. And, until we have regulation to support the industry, stakeholders will continue to operate around the barriers.
But that’s a double-edged sword.
Forged by altruistic pioneers, the industry has for the most part policed itself for its own greater good. While the lack of regulation has allowed for untethered innovation, research and development without the regulatory red-tape of FDA oversight, it has also left room for bad actors to raise red flags that invite more scrutiny of critics. Take for example the recent news about the numerous deaths caused by tainted e-cigarettes and vape products, which could have been avoided had there been sufficient regulatory standards in place to guide manufacturing best practices. Even though the CDC hasn’t identified a single culprit, and confirmed that deaths were related to non-cannabis ingredients and not cannabis, the tragic events present anti-marijuana lobbies aiming to shoot down legislation with enough ammunition to stop momentum.
That’s the topic of today’s show and our guest, Cannabis expert and dispensary owner Steve Shapiro, weighs in on how regulation will help avert these mishaps.
Acknowledgements
If not for the generosity of our supporters, we wouldn’t be here! We’d first like to express gratitude for our radio sponsors Cannasphere Biotech and Pro Series sponsors Sunstate Technologies and HUB Interntional. We are grateful! Many thanks go to Erik Godal for our theme “Evergreen.” We’d also like to shout out to XRQK Radio Network and Society Bytes Radio Network for broadcasting our show and Cannabis Radio for helping us spread the word online.