Thailand is reversing course on cannabis legalization, with lawmakers pushing to recriminalize recreational use—a move that could upend the country’s booming $1 billion industry. The shift comes after the Bhumjaithai Party, which originally backed legalization, exited the ruling coalition, leaving the policy vulnerable to rollback.

Editor’s Note: Just two years after Thailand became the first Asian country to decriminalize cannabis, this U-turn throws businesses, investors, and consumers into chaos. It’s a stark reminder of how quickly political winds can change—and how fragile legal weed markets can be, even in places where they seem here to stay. For a country that bet big on cannabis tourism and entrepreneurship, this could mean lost jobs, shuttered stores, and a black-market resurgence.