2023 offers business opportunities in several new state cannabis markets
There are still opportunities in the U.S. cannabis industry despite some setbacks in the upcoming elections.
There could be up to four new state markets this year. New York and Rhode Island have recently launched adult use.
The New York market will be the second largest when it's mature. In the near term, opportunities will be limited as states come online this year.
Missouri has a strong medical marijuana market and is poised to have a strong recreational market. Microbusinesses will be the only new licensing opportunities for the time being.
Rhode Island, which launched adult-use marijuana sales in December, and Connecticut, which will launch its recreational program on Tuesday, are two wealthy states with limited licenses. Alabama will also have a limited license market. Mississippi has no licensing caps and is a good place to do business, but it is a poor state.
Legislators in Maryland want to avoid the mistakes made during the state's medical marijuana launch.
New opportunities can be found in more mature markets such as California, Colorado, Massachusetts, and New Jersey, where local governments used to opt out of state-regulated programs.
There are some possible trends and lessons that can be found in these markets. Legalization isn't a sure thing.
States are trying to level the playing field for small businesses. It's difficult for new entrants to get into limited-license markets.
Everyone is in development. We still don't know a lot. The chair of New York's Cannabis Control Board thinks there are some similarities. We are all taking our own paths, and we are seeing a focus on equity.
There are a lot of innovative ideas that support the industry, she said. A strong cannabis industry is what we want. Each of us has to do our own test case.
There is a $2 billion adult-use cannabis market.
The state wants to act on the lessons learned from the medical marijuana program.
Medical and microbusiness license holders will likely be the only ones allowed to participate in the state's recreational marijuana program.
Connecticut is a difficult market to crack due to the limited licenses available.
More medical operators are expected to join the sector in the years to come.
Alabama's medical marijuana program will be slow to launch, according to experts.
As Mississippi prepares to welcome medical marijuana, low incomes and a lack of cannabis business experience are likely to be issued.
Keywords: Rhode Island, state,marijuana, January issue
DCP to Medical Marijuana Patients: Score Some cannabis Now, Man
The Department of Consumer Protection advised registered medical marijuana patients in Connecticut to stock up on cannabis ahead of the launch of the state's recreational cannabis adult-use market on Tuesday.
Adults over the age of 21 can purchase up to a quarter ounce per transaction at nine hybrid retailers around the state on Tuesday.
While those transaction limitations are intended to ensure an adequate supply of cannabis for both the commercial and Medical cannabis markets, the DCP encouraged the state's roughly 50,000 patients to replenish before the launch to avoid an expected rush.
Commissioner Seagull said in a press release that it was always best to be prepared and that they hoped there wouldn't be any disruptions to patients. Cannabis Patients who can make purchases in advance or have their cannabis medicine delivered are advised to do so. Although many of the hybrid retailers will provide separate checkouts for Medical Marijuana Program patients, they may still experience increased traffic, as well as crowds in and around the hybrid retailers in the opening days of the market.
Medical marijuana patients don't have to pay taxes on their purchases.
They are allowed to purchase up to five ounces per month. Participants in the program will no longer be required to pay a registration fee.
Connecticut legalized recreational cannabis through a law that went into effect this week. While state officials expect more cannabis businesses to come online in the coming year, the nine retailers opening to the public Tuesday are hybrid operations. There are also Fine Fettle Dispensary in Newington and The Botanist locations in Danbury and Montville.
Seagull said last month that the initial quarter ounce per transaction limit would be reviewed.
Seagull said the agency needed time to assess the demand for the product and how it stacked up against the state's cannabis producers.
She said that they would continue to evaluate how things play out. It's difficult to know what the demand will look like on the first day.
Connecticut has a medical marijuana program. Patients who are being treated for at least one of the state's approved conditions and have been certified by a Connecticut physician, physician assistant, or advanced practice registered nurse are served cannabis.
Keywords: Pharma cannabis plant, medical marijuana patients, Christine Stuart photo, Consumer Protection advised
Senate GOP 'close' to supporting medical marijuana, leader Devin LeMahieu says
The Senate is close to supporting the legalization of marijuana for medical use, according to the majority leader.
Legislation to create a medical cannabis program in the state could be passed this legislative session as long as regulations are put forward to make sure it's for those in serious pain, according to LeMahieu.
LeMahieu said that the caucus is close to approving medical marijuana. A lot of our members want to make sure it's regulated well, because they may be able to vote for it now.
We don't want people to go in because of their back problems. It has to be cancer pain.
It is the first time a leader of the Senate Republicans has supported the idea. The opposition within the caucus has been a hurdle in the past
Scott Fitzgerald, the former Senate Majority Leader who now represents the 5th Congressional District, had previously expressed deep skepticism toward the idea of medical marijuana legalization. He said he wouldn't support the legalization of cannabis for medical use if the FDA approved it as a prescription drug.
Vos' spokeswoman didn't say if Assembly Republicans are on board. He believes they could be.
Democrats have long advocated for the legalization of cannabis in Wisconsin.
Lawmakers and Evers will soon begin negotiating and writing the next state budget, which will include a proposal to legalize marijuana. Evers wants to use the revenue from the plan to help fund schools.
"Wisconsinites overwhelmingly support a path toward legalization and regulation of cannabis, like we do alcohol." On Tuesday, Evers said that he was looking forward to working with legislators on both sides of the aisle to find common ground on the issue.
Agard, a Democrat from Madison who has repeatedly and unsuccessfully proposed to legalize marijuana in Wisconsin, said she looks forward to the details of what Senate Republicans could potentially support.
Agard doesn't agree with the idea of picking winners and losers in terms of what kind of pain qualifies someone for a prescription.
I will always fight for the legalization of cannabis in Wisconsin. Agard said that the most dangerous thing about cannabis is that it is still illegal.
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Sixty-four percent of Wisconsinites think that marijuana should be legalized for use. According to polling, more than 80% of Wisconsinites support a medical marijuana program.
Only a small number of states have legalized marijuana use in some way. Many states have medical cannabis programs. The governor of Minnesota said recently that he expects marijuana to be legalized by May.
Voters in 16 counties and two cities voiced their support for the legalization of medical or recreational cannabis through advisory referendum questions.
The referendums asked for opinions on whether personal use should be legalized for older adults.
A bill that would create a state-run medical cannabis program would be reintroduced by a Republican state senator.
At a hearing on the bill in April, Felzkowski said that her interest in joining the push to create a medical marijuana program was spurred by her battle with breast cancer. She said that the drugs she was prescribed to eliminate cancer caused her pain to be so bad that she could only legally treat it with Opioids.
Felzkowski said that he can't talk in for sure but will re-introduce the bill.
The bill was opposed by the Wisconsin Medical Society due to lack of research showing how cannabis could harm certain conditions.
"Until science can determine which elements in grown Cannabis are potentially therapeutic and which are potentially harmful, any medical marijuana program is at best a pale imitation of true medical therapies developed through scientific research," Mark Grapentine wrote in an April memo.
Keywords: Majority Leader Devin, Leader Devin LeMahieu, medical marijuana, Senate Majority Leader