Cheddar's CannaBiz explores the latest trends, and news in this expanding market of recreational, and medicinal marijuana. Cheddar's Hope King and Baker Machado speak with start-up founders about how they are capitalizing on cannabis.
Legal technology platform CannaRegs is on a mission to make sense of the legal landscape of marijuana for stakeholders in this growing space. The company's founder and CEO Amanda Ostrowitz explains the regulatory landscape for marijuana, and why she was inspired to launch this start-up.
"I realized the only solution to my problem was to build it," says Ostrowitz. "It's actually kind of influencing the way law is being made because we've been able to track it to such a level where the first time a city government even talks about cannabis--we've tracked it."
Colorado Marijuana sales hit $1.5 Billion in 2017, generating nearly $250 million in taxes and fees for the state. The Cannabist's Marijuana Policy and Business Reporter Alicia Wallace explains why the state sales could face a plateau, and lessons other states could learn from Colorado.
"In Colorado the slowing growth is more of an indicator of a mature market," says Wallace. "We're the guinea pig on this, and we've been able to learn a lot of lessons really quick as this industry came out of nowhere here."
Sensi Products recently underwent a complete redesign to make the transition to solely medical marijuana edibles to consumer products for recreational use. The company's co-founder Lisa Tollner explains how her company made this switch, and her outlook for this expanding market in California.
"For the most part it was a pretty straight forward maneuver for us," explains Tollner. "We saw this coming. I would say as early as five or six years ago we felt it was just a matter of time."
Cheddar's CannaBiz airs every Tuesday from 3:30 to 4:00 p.m.
Alexander Reed, chief investment officer of Envisage Wealth, joined Cheddar News to discuss Thursday's market session amid weak economic data and ahead of Friday's jobs report.
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