About 30,000 cannabis enthusiasts are expected to trek through the Sonoma County Fairgrounds next weekend for the revamped Emerald Cup Harvest Ball, a celebration all about the plant that has been a social, regulatory, and business fixture for decades in Northern California. Those pot lovers will learn about new, innovative weed strains, while some of the old guards will stick with such standbys as Blue Dream and OG Kush. Admission for the event starts at $75 for a single-day ticket and members of the hip-hop group Wu-Tang Clan will perform. “The response has been amazing for an event we are doing … with the aftereffects of the pandemic,” said Kenneth Loo, spokesman for the Harvest Ball. “I think it really does show the resilience of this community.” The event comes as acceptance of marijuana continues to poll strongly. Legalization is favored by a record high 68% of U.S. residents, according to a Gallup poll taken last month. Passage at the federal level is closer than it has ever been with Senate Majority Leader Charles Schumer sponsoring legislation that would remove all federal prohibitions on marijuana. Yet many in the business are having a hard time celebrating in a year where cannabis prices paid to growers have plummeted by as much as 50%, as illegal pot from states like Oregon and Oklahoma has flooded the market. And those same growers and others in the business contend they are hemorrhaging money under a tax and regulatory regime that makes it difficult to eke out a living.

Cannabis Business Executive – Cannabis and Marijuana industry news, 12/04/2021 09:25:00

Open article: https://www.cannabisbusinessexecutive.com/2021/12/ahead-of-emerald-cup-harvest-ball-cannabis-growers-raise-alarm-over-taxes-regulations/