Mass. — Some cannabis business owners in Massachusetts are calling on regulators to pause new licenses for growers, saying the market is becoming oversaturated.
The proposal aims to curb falling prices driven by an excess supply of cannabis.
Industry members argue that the current supply is cutting into profits and making it difficult for some businesses to stay afloat.
The state Cannabis Control Commission discussed the proposal at a meeting on Wednesday. Several business owners said declining prices are making it hard to pay bills and sustain operations.
However, not everyone agrees with the idea. Some argue that Massachusetts previously committed to an open licensing process and should not impose limits now.
Commissioner Shannon O’Brien said the proposed freeze would apply only to new applicants, not existing license holders.
The commission is expected to revisit the issue next Thursday.
This is a developing story. Check back for updates as more information becomes available.
Download the FREE Boston 25 News app for breaking news alerts.
Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW