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New Jersey’s adult-use marijuana market is caught in a “doom loop,” and the regulatory commission is responsible for the problems, according to a report by the state’s Cannabis Trade Association.
The report shows the slow pace of licensing, delta-8 THC products and poor enforcement of the illicit market means the state is losing out on millions in tax revenue, The Philadelphia Inquirer reported.
Jeff Brown, executive director of the Cannabis Regulatory Commission (CRC), said the agency is transparent about timelines.
Three northeast cannabis industry groups released a report on Wednesday to shine a light on contaminants in unregulated products sold in New York.
These groups had products tested from 20 unlicensed sellers, like Empire Cannabis Club and WeedWorld, two entities that received cease and desist letters from regulators over the summer, and lesser-known unlicensed sellers, too. The results showed that about 40% of the products contained contaminants like E.Coli, lead, and salmonella, the groups said.
Thanks to the ingenuity and skill of Stockton University students, the New Jersey Cannabis Trade Association (NJCTA) has a new logo.
The new logo design was unveiled at Stockton University’s Cannabis Career Fair & Business Expo, with representatives from NJCTA kicking off the event by recognizing senior year students Sarahann Schreiber of Estell Manor and Lord’Kala Dawson of Trenton for their vision and creativity. NJCTA presented each student with checks for winning the association’s new logo contest, which was held with the support of the university.
February 22 is the self-imposed state deadline to open adult-use recreational marijuana sales. But cannabis industry insiders say, like other deadlines, it won't be met.
“I think that the CRC (New Jersey Cannabis Regulatory Commission) are working diligently to open the adult-use market. I don’t know how far off it will be, but it seems like that deadline won’t be made at this point,” said Shaya Brodchandel, President of New Jersey Cannabis Trade Association (NJCTA) and CEO of the Harmony Dispensary.
There are currently 23 existing medical cannabis dispensaries in New Jersey, and those that have been operational for at least one year can apply for licensure to serve both patients and adult-use customers under the cannabis legislation that was signed last year.
These medical dispensaries will likely be the first to sell to the recreational market once they complete a transition guidance document and get approval from the CRC.