Thailand's Weed Boom Goes Bust: What Happened?

Just months ago, cannabis shops in Bangkok were as common as pubs in London. Today, many are closed and the industry is struggling. This rapid decline is widely seen as a result of the previous government's policies. After making Thailand the first country in Asia to decriminalize cannabis in 2022, it failed to pass a promised law to regulate its use. The lack of clear rules created confusion. Businesses opened freely, but there were no official controls on sales or quality. This led to public concern over widespread recreational use, especially among youth. The new government, which took office in 2023, has vowed to rewrite the law. It promises to restrict cannabis use to medical purposes only. This has left the booming industry in limbo, with shop owners and farmers unsure of their future. Investors who entered the market are now facing major losses. The future of Thailand's cannabis experiment depends on the new regulations, which are still being drafted.