With the reclassification, 26 states where cannabis is currently illegal will need to decide whether they want to take action to stop the sale of cannabis in their state or figure out how to regulate the newly legal drug.
A few states such as North Carolina have laws on the books saying cannabis will automatically become legal once the federal change goes into effect.
But the regulation of cannabis is nothing new in Colorado and Washington. These two states have more than a decade of experience writing and enforcing laws to control the marijuana marketplace.
When Colorado first legalized recreational marijuana, it allowed unlimited cannabis licenses for growers, distributors, and retailers. This fostered an environment of intense competition.
In contrast, Washington capped retail licenses at 334, or 4.8 dispensaries per 100,000 people, setting up conditions for a concentrated market that would potentially lead to higher markups and retail prices. In 2016, Washington increased that cap to 556 to incorporate medical dispensaries. As of March 2024, only 469 of those licenses were being used.
In comparison, Colorado has 680 retail licenses, or about 14 dispensaries per 100,000 people, roughly three times the number in Washington per capita.
Read more at: theconversation.com