Possible recession
Washington and Colorado kindled the recreational trade in 2012 when they legalised marijuana use for adults 21 and older. Entrepreneurs quickly moved in – growers began converting farms, retailers began searching for investors – hoping to get in on the “green rush” certain to follow as legitimacy spread.
By 2019, pot had found legal homes in 11 states and the District of Columbia, generating a collective $US1.7 billion in tax revenue, says the Marijuana Policy Project, a cannabis policy advocacy group.
It was in this environment that Kislak watched her annual harvest of bulk flowers swell to upward of 220 kilograms, and many businesses were able to find their footing. More states came online, and tax revenue surged to $US3.7 billion in 2021, the advocacy group says. By year’s end, legal use had grown to 21 states, two US territories and DC.
But as more businesses sprouted, society was returning to its pre-pandemic ways and facing a possible recession. Many Americans pulled back on nonessentials such as weed, and sales tumbled for some retailers. Marijuana saturated the market, forcing sellers to drop prices to unload inventory.
Kislak also scaled down, opting to focus on her craft business and produce strains like Biscotti Pancakes and Acai Cherry Sherbert. She plans to sell a little more than 45 kilograms convinced it’s the best thing she can do to maintain her business. She recently filled two 2300 litre pots with cannabis, figuring it would be…
