NEW MEXICO (KRQE) – The cannabis industry is facing over-saturation and under-regulation; That's according to those in the retail industry who want lawmakers to do more to combat black market activity in the industry—a problem exposed in a Larry Barker Investigation last month. Story continues below Space: Rare comet can be seen in New Mexico sky, local experts explain News: Drafted New Mexico bill aims to change guidelines on how board grants parole News: Valencia County Sheriff’s Office releases footage of fatal deputy-involved shooting News: Some Bosque trails in Albuquerque to be closed for maintenance Tuesday, at an Economic and Rural Development and Policy Committee meeting, those in the cannabis industry asked lawmakers to give regulators more authority. "There's a thriving illicit market; they're not paying tax revenue; they're not getting their products tested; they're not packaging them right; they're selling to minors," said Justin Dye, CEO of R. Greenleaf. Retailers in the cannabis industry are calling for change in the way the state handles business. They are citing concerns about too many dispensaries popping up, a thriving black market, and not enough enforcement by the state. Dye told lawmakers his ideas for curbing these problems: "Competing with people who don't have to play by the rules, who don't pay taxes, who don't have to go through testing, who are a danger to our kids, we gotta step up and do something about that." His policy suggestions include hiring more Cannabis Control Division (CCD) inspectors to match other states, like Colorado and Oklahoma which have three to five times more inspectors per license than New Mexico. He also wants them to have more authority. "Let's give them the rights to search, seize, destroy, and charge people," Dye said. Dye also called for the licensing of new businesses to stop until the CCD can get more inspectors: "Not forever, let's just calm everything down. Let's just simplify what we're doing. Let's enforce the rules that we have without bringing more and more folks into this that don't have all the experience to do this." Dye also called for the total ban of hemp-derived cannabinoids, which are not subject to the same regulations as cannabis, at places like vape shops, convenience stores, and street vendors. "There's about 20 states that have outlawed it or regulate it. We need to at least have that conversation," Dye said. The New Mexico Regulation and Licensing Department (RLD) superintendent also told lawmakers about their progress in regulating the $1.3 billion industry. With about 3,000 licensed operations in the state, they've performed roughly 2,200 inspections between January and September 30 this year. "We've struggled, as you've seen some of the news media on us, in terms of the percent of the inspections done, we're working toward it and we're working really hard," said Clay Bailey, superintendent of the RLD. He's also asking lawmakers to give law enforcement more power over the industry; and for more staff and equipment. "We have got to get some more authority if you want us to handle the cannabis," Bailey said. Other advocates also called on lawmakers to look at regulations on lab testing of cannabis. The CCD has issued more than $4 million worth of fines for cannabis violations but have only collected roughly $350,000.