Illicit market

Definition: The illegal, unregulated cannabis market. Before medical and adult-use legalization, cannabis was completely illegal in the US and all activities took place in the illicit market, including growing, buying, selling, transporting, and extracting cannabis. The illicit market still exists today, both in states that do not have medical or adult-use cannabis laws and also in states that do. Cannabis products bought through the illicit market have not been lab tested and may not be safe for consumption.

Also known as: Black market

Category: Compliance & Legal

Disclaimer: These definitions are provided for information purposes only.