Presentations on public health surveys by researchers from Canada & Oregon gave the LCB insight into how Washington’s system compared to other legal cannabis jurisdictions  

So what happened?

Dried flower is the most commonly used product, with 71% of consumers preferring flower.

Edibles came in 2nd, with 64% of survey respondents citing edibles as their go-to cannabis product. 

Rounding out #3 is Vape carts at 46%

Significance

It probably doesn’t help farmers' cause claiming high taxes, since the price in Washington is 25% lower than the legacy market.

In 2021, the price of dried flower reported by consumers in Washington was only $7.38, lower than the US average of $9.17.

Impact

This can create diversion, especially during difficult economic times.

An investment strategy known as Arbitrage is when an investor simultaneously buys and sells an asset in different markets to take advantage of a price difference and generate a profit. 

While price differences are typically small and short-lived, the returns can be impressive when multiplied with enough volume or frequency.

Arbitrage is commonly used by hedge funds and other sophisticated investors.

In this example, arbitrage is when cannabis in bought in WA for $7.38 and gets diverted to NY for $9.94

Maybe the presentation to Washintion’s regulators should have been the importance of legalizing interstate commerce, before incentivising coast-to-coast cannabis arbitrage.