California cities are banning new cannabis retailers out of concern that the industry is collapsing.
One California city is saying no to any new pot stores out of fear that its local cannabis industry is “collapsing.” The Palm Springs City Council voted last week to place a 45-day moratorium on accepting applications for any new cannabis stores in the Southern California city. The law takes effect immediately, according to KESQ-TV.
Jain told Green Market Report that retailers are facing a “bloodbath” in these cities because of fierce competition, with retailers going out of business. That’s left leaders in cities like Palm Springs worried that an overabundance of stores near each other will cause the industry to fail. Goedhart said last week that the city is also considering lowering taxes for existing cannabis retailers in the city.
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