California marijuana industry facing challenges as 420 comes and goes

[00:00:00]The Trump administration is renewing a push for a massive overhaul of marijuana policy.

[00:00:06]>> Some dispensaries say it's not happening quickly enough.

[00:00:08]>> ABC7 Eyewitness News reporter J.R. Stone has more on the challenges ahead as the Bay Area marks 420.

[00:00:16]Two people under umbrellas at San Francisco's Hippie Hill Monday to celebrate the unofficial cannabis holiday 420, a much different look than sanctioned events from years ago. But those who did show up in the rain came to smoke weed. Honestly, I just like being high.

[00:00:34]I, you know, like it just It kind of brings you down, too. Well, marijuana did help me with my PTSD, especially when I got out out of the army. But here we are years after the legalization of cannabis in California, and those in the industry say there are still challenges front and center. They got to cut us some slack because uh honestly, the cannabis industry is just really struggling right now. Not only because of heavy state regulation and taxes, but competition from illegal growers in the state. Just last week, more than 20,000 plants were confiscated at suspected illegal cannabis grows in Hayward. The legal market in California, despite being 10 years rec legal, is still less than 40% of the cannabis consumed in the state. So, we are still fighting every day for with against folks that are unregulated, they're untaxed, and we don't know the safety of their products. At the federal level, 4 months ago President Trump announced that marijuana would be reclassified as a less concerning schedule three drug instead of a schedule one drug, but that has yet to happen. In fact, Trump appeared to address the hold up just days ago. And you're going to get the rescheduling done, right, please? Can we get Will you get the rescheduling done, please? You know that You know they're slow walking man's rescheduling.

[00:01:52]Okay, you're going to get it done, right? Absolutely. Hopefully they'll get it right, and hopefully it will be very, very soon.

[00:01:58]>> That has not happened yet, which means every one of our customers that come in has to use cash still instead of credit cards, which in a digital economy is pretty difficult. Difficult, yes, but it seems those who really want to get cannabis are making it happen, especially on a 420 in the rain. J.R.

[00:02:16]Stone, ABC7 Eyewitness News.