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Hasn’t really happened in Canada. I think a small-player alcohol company did move in, but only after the bubble popped. Turns out legalization of a drug doesn’t lead to massive increases in consumption. Who knew. Definitely kneecapped the black market though: most moved to the legal side and black market prices cratered.
Big tobacco might have stayed out of the fray but since legalization the vape giant JUUL owns and operates dispensaries.
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A lot of them have wiggled around this problem by offering “atms” at the cash register. You pay with a debit card, but it’s not a normal transaction, it’s an ATM withdrawal! I don’t understand how the money is vended to the business, but it keeps it out of the store
there is still a lot of cash on site due to the presence of an ATM though, and in the cash registers. the primary problem is that weed shops are incredibly attractive robbery targets due to being one of the few businesses in 2024 that handle large amounts of cash.
One major effect of this is that weed stores will be able to use banks and payment processors legally once the regulators catch up.
How? It's still federally illegal to sell schedule 3 to consumers without a DEA licensed rx and dea licensing. The banks would still be knowingly in conspiracy to transmit illegal drug money and a litany of felonies for recreational or purely state-licensed 'medical'.
Weed being illegal on a federal level has had some interesting effects. Because of these laws, all legal weed has to be grown, processed, and retailed within a single state. So much industry and local employment has been created by the legal barriers in place. It’s probably still a net positive to release the federal restriction, but I hope all these small/mid sized businesses don’t get gulped up by big tobacco or ot…
> I hope all these small/mid sized businesses don’t get gulped up by big tobacco or other mega corps Calling it: CVS and Walgreens will move into the medical market for this. You think these little shops will be able to process health insurance payments when that sector gets in on it? lol
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As someone who has taken ketamine for medical purposes and marijuana for not, it is utterly off-the-charts bonkers that they are classified identically. A large dose of ketamine literally disconnects yourself from reality. Weed makes you tired.
Why should subjective effects direct the scheduling of these drugs?
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Yes this seems to be increasingly common, at least on the west coast. The suboptimal part is that the buyer typically gets hit with an out-of-network ATM fee for doing this, so the consumer is paying $2-5 for processing per transaction.
That’s pretty small potatoes though compared to going to a bank yourself and making a transaction for cash you don’t normally have around. Maybe there’s an ATM down the block but that’s not the case for many people.
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How? It's still federally illegal to sell schedule 3 to consumers without a DEA licensed rx and dea licensing. The banks would still be knowingly in conspiracy to transmit illegal drug money and a litany of felonies for recreational or purely state-licensed 'medical'.
You can sell schedule 3 drugs to consumers. Pharmacies do this all the time.
Rx under DEA scrutiny is nothing like rec or laughable state controlled medical 'recommendations'. You pull that shit as a provider on controlled scripts and your charts get audited, your DEA license gets pulled.
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A lot of them have wiggled around this problem by offering “atms” at the cash register. You pay with a debit card, but it’s not a normal transaction, it’s an ATM withdrawal! I don’t understand how the money is vended to the business, but it keeps it out of the store
Does it actually keep cash out of the store? They might just have to keep track of it at the back of house still.
Here in Canada, it has been rather eye opening the extent of cannabis use. There are more cannabis shops then mcdonalds. You can grow your own and most people do. There's online options. A society which criminalizes something so popular and widely used; will ultimately fail at their prohibition. The next step for society would be to attempt at changing opinion, but what are the unintended consequences? The answer is,…
But there's as many shuttered pot shops in Toronto as there are open ones. I think the industry is still shaking out and there's a lot of volatility.
Then you have to have security, your staff is high 24/7, banking is a mess..
Growing might be more pleasant than running the shops but then you better like agriculture