Cannabis tax revenue in Colorado fell nearly $100 million in 2022, while California, Oregon, Nevada, and Washington all saw sales fall as the industry began its first downturn. Conversely, sales were up big time in Michigan, Illinois and Massachusetts. It isn’t just regional differences in the industry. Sales of flower are down, but edibles are enjoying stellar growth. Here’s a nugget of wisdom for some perspective: As it was during the Gold Rush, cannabis businesses can’t survive without goods and services like insurance – ancillary operators just need to look for the opportunities. Our latest podcast features Charles Pyfrom, chief marketing officer at CannGen, and Erich Schutz, vice president of Jencap Specialty Insurance Services.
The post EP. 69: The Green Rush May be Gone but Cannabis Businesses Still need Pickaxes appeared first on Insurance Journal TV.