While attendance and sponsors at MJBizCon in Las Vegas seemed a little lighter than previous years, that didn’t dim the optimism in the industry.
The trade floor looked as full as ever with numerous splashy booths, but the normally packed agenda for panel sessions was noticeably thinner with no major keynote speaker this year.
The conference also kicked off on a sobering note, with speakers noting the challenges that the industry faced this year.
North American Market Overview
While the Canadian market has seen sales increase over the past year, the industry north of the border has been plagued by layoffs, insolvencies, and many companies giving their licenses back, according to MJBiz reporter Solomon Israel. Israel also pointed out that the pace of growth is slowing.
Canadian operators also want change in how the industry operators, particularly as it relates to taxation and THC limits. They would also like to see marketing and advertising restrictions ease.
While Canada looks to make changes to its national market, the U.S. is still focused on expanding legalization. The overall tone was that 2023 was really difficult, but there is great hope for 2024 with expectation centered on rescheduling in 2024 that would end the 280e tax restrictions.
MJBiz reporter Chris Roberts, however, dumped on New York, calling it a model for how “not” to do legalization.
To read the rest of this report, click on Green Market Report.