Take A Look At Colorado And Washington Before Deciding On Cannabis Regulations, Expert Says
Cannabis regulation is still highly experimental and can be quite tricky. Barely ten years ago cannabis was illegal across the United States. Today, the landscape has drastically changed as states are grapple with how to regulate this newly legalized substance. With re-scheduling on the horizon, state governments will soon need to define a regulatory system.
How did the two most experienced US states tackle this chore? An expert on the topic dove into this in a recent article in The Conversation. Boyoung Seo, an assistant professor of Business at Indiana University, looked at the lessons learned from Colorado and Washington—two early adopters of cannabis legalization and how other states might build their own cannabis regulation approach.
Lessons From Colorado And Washington
In 2012, Colorado and Washington became the first states to legalize recreational marijuana, though they took starkly different approaches in terms of regulation.
Colorado chose a more open market strategy, allowing an unlimited number of marijuana retailers. This approach aimed to foster competition, lower prices and increase the quality of goods and services offered.
Washington adopted a more controlled approach by limiting the number of retail licenses and restricting competition, she explained, with the …