We are halfway by means of 2020 and the trade has added 667 licenses this yr. Those new licenses signify a 9.6% enhance from the 6,927 originally of the yr. Twenty-one states have added not less than one energetic license this yr. Oklahoma nonetheless retails the lead and has accounted for 249 of the 667 (37%).
Other states are persevering with to subject licenses or are engaged in fights with current license holders or people who have been denied licenses.
- Rhode Island introduced this week that the state Department of Business Regulation will start accepting functions Friday from companies hoping to win a license to function one among six extra medical marijuana dispensaries. This is large information as there are solely three dispensaries within the state now. To apply, candidates should submit a $10,000 payment together with a bunch of detailed monetary info. Winners of the licenses will every should pay an annual $500,000 licensing payment, thought-about one of many — if not the — costliest within the nation in accordance with the Providence Journal. By distinction, an Oklahoma hashish license is $2,500.
- In Oklahoma a category motion lawsuit has been filed towards OMMA – the Oklahoma Medical Marijuana Authority with respect to residency necessities. According to the lawsuit, greater than 250 companies are impacted by the residency requirement adjustments and faculty distance adjustments.
- Missouri, which had a really organized rollout of licenses is now being besieged by lawsuits alleging scorning improprieties from those that have been rejected.
- Florida’s Supreme Court on Tuesday ordered a second spherical of arguments in a battle about whether or not the state has correctly carried out a 2016 constitutional modification that broadly legalized medical marijuana.
- A Rhode Island license carries an annual payment of $500,000 versus $2,500 in Oklahoma!
- Oregon, Colorado and Washington collectively solely added 57 on a YTD foundation
- Oklahoma leads the nation once more with 249 new licenses
- Michigan got here in second with 142 new licenses – up 68% since January 1
Oklahoma continues to be the hotspot for dispensaries within the United States and accounts for for nearly 25% of the nation’s dispensaries/retailers. The price of issuance has continued to say no since Q319.
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Ed Keating is a co-founder and Chief Data Officer of Cannabiz Media and oversees our information analysis and authorities relations efforts. He has spent his complete profession working with and advising info firms within the compliance area. Ed has overseen advanced multijurisdictional product strains within the securities, company, UCC, security, environmental and human useful resource markets and focuses on workflow merchandise over the past twenty 5 years. During that point he has labored for each startup and established info firms the place he has led advertising and marketing, product administration and gross sales organizations. These firms embody Wolters Kluwer/Commerce Clearing House, CT Corporation, EDGAR Online and Business & Legal Reports. At Cannabiz Media Ed enjoys the problem of working with regulators throughout the globe as he and his workforce collect company, monetary, and license info to trace the folks, merchandise and companies within the hashish economic system. Ed graduated from Hamilton College and obtained his MBA from the Kellogg School at Northwestern University.