A recent report from the Green Market Report has revealed that the unlicensed cannabis market in New Mexico is thriving despite efforts to legalize and regulate the industry. The report highlights the challenges faced by licensed cannabis businesses in the state, as they struggle to compete with the black market.
The report found that unlicensed cannabis sellers are able to offer lower prices and a wider variety of products compared to licensed dispensaries. This has resulted in a significant portion of consumers turning to the unlicensed market for their cannabis needs, further fueling its growth.
One of the main reasons cited for the success of the unlicensed market is the high cost of entry for legal cannabis businesses in New Mexico. Regulations and licensing fees make it difficult for small businesses to enter the market, leaving room for unlicensed sellers to fill the gap.
The report also points to the lack of enforcement against unlicensed cannabis sellers as a contributing factor to their continued success. Despite efforts by law enforcement to crack down on illegal operations, many unlicensed sellers continue to operate with impunity.
The Green Market Report warns that the thriving unlicensed market poses a threat to the legal cannabis industry in New Mexico. Without stricter enforcement and measures to level the playing field for licensed businesses, the report suggests that the unlicensed market will continue to grow and undermine the efforts to regulate the industry.
Overall, the report sheds light on the challenges faced by licensed cannabis businesses in New Mexico and calls for action to address the growing unlicensed market. It serves as a reminder of the importance of creating a fair and competitive market for all participants in the cannabis industry.
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