One of the difficult issues facing any industry is risk
management. For those in the cannabis industry, risk management
includes a unique blend of onerous state and local regulations, a
lack of federal regulation, and a healthy illicit market. Recently,
the outbreak of a mysterious lung disease allegedly caused by
"vaping" created havoc in two emerging
industries—cannabis and electronic nicotine delivery Systems
(ENDS)—and this is only the tip of the iceberg.
Regulatory History and Current Issues
Veterans in the cannabis industry know all too well the
regulatory challenges of an industry that is subject to varying
regulations on a city, county, and state level. Although the
industry supports and has even requested federal regulation, its
opinions have fallen on deaf ears. The cannabis industry is in
favor of standards and regulation for health and safety reasons and
welcomes them as a means to eliminate the illicit market, which
recently dominated the national
