CA CANNABIS AUTHORITY ANNOUNCES NEW PUBLICALLY AVAILABLE WEEKLY CANNABIS MARKET UPDATES

Local Cannabis Regulator Organization Now Provides Weekly Updates of Track and Trace Data on Cannabis Market Dashboard

SACRAMENTO, Calif., Jan. 18, 2023 /PRNewswire/ -- The California Cannabis Authority (CCA) announced today that its public-facing dashboard of cannabis track and trace data, dubbed the Transparency Project, will now be updated weekly—increasing the level of transparency into cannabis sales, cultivation and transactions in participating jurisdictions.

The Transparency Project, operated by CCA's technology partner NCS Analytics, provides one of the most comprehensive views into California's legal cannabis market. It incorporates track and trace data from nearly 3,000 licensed operators in CCA's participating member jurisdictions. The dashboard provides data on the number of licenses issued, amount of sales, number of harvests, most popular categories of products sold, and other market information—which is anonymized to protect operators' privacy.  

"Building public trust is crucial for a community to implement a local cannabis program successfully," said Greg Turner, executive director for the California Cannabis Authority, a joint powers authority of local governments with cannabis programs. "We are proud to utilize seed-to-sale track and trace data through the Transparency Project to help build confidence that regulators are providing the oversight they promised. With this latest update, the public can now view a summary of all cannabis activity in their jurisdiction on a weekly basis, which is an unparalleled level of transparency."  

State law requires cannabis companies to enter all transactions from seed to final sale into the state's track and trace system. CCA member jurisdictions participating in the Transparency Project are the only place track and trace data can currently be viewed by the public. 

NCS Analytics data provides CCA's local government members with data analytics services, allowing regulators to analyze the mountain of track and trace data reported each week into actionable alerts and flags. This allows CCA members to prioritize enforcement, audits, targeted compliance, and revenue forecasts based on trends detected in operators' track and trace data—saving local regulators time and improving the effectiveness of oversight.

Adam Crabtree, CEO of NCS Analytics, added, "Through our work across the United States, we consistently see that data is the core of responsible and effective regulation and that transparency is the cornerstone of good government. We are proud to partner with local governments across California to utilize data to improve accountability and build public trust."

Including its work with CCA, NCS actively monitors nearly 20,000 cannabis licenses across the country for their regulatory partners, including Vermont, Oklahoma, West Virginia, and Michigan.

The California Cannabis Authority (CCA) is a Joint Powers Authority with a mission to provide its members access to a sophisticated data analytics platform that delivers up-to-date actionable intelligence and reports on commercial cannabis activity in their jurisdictions. Access to data that would otherwise be unobtainable gives regulators the power to make decisions quickly, efficiently, and founded in fact. CCA also promotes a community of local governments working cooperatively to regulate and tax commercial cannabis more efficiently and effectively. For more information, please visit cca.ca.gov.

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SOURCE California Cannabis Authority