In recent years, D.C. has also developed one of the country’s fastest-growing cannabis marketplaces. The city not only hosts the National Cannabis Festival each year, but the city’s cannabis marketplace generates upward of $26 million annually. The future of the city’s cannabis industry is extremely bright, but to achieve its full potential, the city must confront a significant source of division: Initiative 71.
The nation’s capital is currently home to a growing medical market, but the retail sale of recreational cannabis has not been legalized just yet. However, Initiative 71, best known as I-71, has allowed the distribution of limited amounts of cannabis through a practice known as gifting. This piece of citywide legislation allows residents over the age of 21 to grow up to six plants in their primary residence and share up to 1 ounce with other adults over the age of 21 as long as no goods, services or currency are directly exchanged for the cannabis product.
In practice,…
Read the full story from the Washington Business Journal.
