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Another First For The Pot Industry: A Licensed Cannabis Restaurant

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Cannabis edibles are a growing segment of the market and are expected to reach $4.1 billion in 2022, combining Canadian and U.S. sales. In 2017, that figure was just $1 billion among the two countries. The segment is going to be key to the industry's long-term growth.

Restaurants haven't been able to take advantage of that growth since the U.S. Food and Drug Administration has still not permitted cannabidiol (CBD) to be infused into food. While the FDA has held hearings on CBD, there's no indication that changes are coming anytime soon.

One restaurant, however, has been able to get around that problem. Lowell Farms opened its doors earlier this month in West Hollywood, Calf., and it's the first restaurant with a lounge licensed for cannabis use. Customers will be able to eat food and consume pot at the same establishment. That doesn't mean the restaurant will be able to make and serve cannabis food. Instead, cannabis edibles will be permitted only if they are "produced by an outside source." 

One of the other restrictions the restaurant will face is not being able to sell alcohol to diners. It's a small price to pay to let them consume cannabis, since pot lounges remain a rarity in the industry. Las Vegas is among the cities looking at permitting such lounges, but that could be years away because there's still a lot of opposition to it. 

Why lounges could be big for the industry

While marijuana has been legalized in many parts of the U.S., that doesn't mean it's possible to consume it at bars or sporting events, unlike alcohol where there are many places that users can drink in a social setting. Allowing that could unlock another avenue of growth for the industry.

Source: https://420intel.com/articles/2019/10/07/another-first-pot-industry-licensed-cannabis-restaurant

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