disrupt the cannabis industry, how is Artet preparing themselves to go along with the changes? And what advice do you have other brands to do the same?
XS: First thing first, THC from hemp and THC from cannabis, while they are the same exact naturally found compound, hemp has a legal federal framework for how it can exist, and cannabis has the state-by-state states’ right to legal cannabis markets. So in many ways, the cannabis industry will be unaffected by this. They may look at this actually as a boon to their business, because many in these sort of regulated cannabis worlds have actually been very critical of hemp, because they feel like it ' s an unfair advantage. [ Because it has federal framework, as compared to state by state.]
Now, the disappointment as far as I ' m concerned, is that we have existing frameworks for our products in California. Right? That ' s where we started in 2018 or 2019. And we have a whole host of dispensaries that sell Artet in Illinois, because we ' ve had a really great partner out there. Outside of those two markets, if any and all of this goes into effect, the majority of the United States will lose access to Artet.
The majority of the United States will lose access to other brands like Artet, because most of the states that also that have these hemp industries, do not have legal cannabis markets. So if anything, the impact here is that there ' s going to just be a massive shock to supply. And very few will be able to continue to get access to these things.
We have a lot of examples in history of what happens when Prohibition or Prohibition-style policies exist. People don ' t stop seeking things out. They unfortunately seek out worser or lesser-quality, less safe alternatives. So to me, those are the impacts that I ' m more concerned about and worried about. Because, you know, sure, our business would contract pretty majorly overnight, but we would still have at least two markets where we can sell stuff and try to figure it out. It ' s more about all the people who don ' t have those things. Where risk of going to jail, where risk of losing your job, or whatever might be come into play, because of how people perceive cannabis versus hemp.
This interview was edited and condensed for publication. For the full podcast interview, visit bevinfogroup. com / insider.
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