The past two years have been milestones for cannabis legalization in the U.S., with Arizona, Montana, and New Jersey passing legislation in 2020, and New York, Virginia, New Mexico, and Connecticut following in 2021. This year, Rhode Island joined its neighbors in passing adult-use cannabis, bringing the total number of recreational state programs to 19. With Rhode Island leading, 2022 stands to be another landmark year with six states voting on cannabis legalization ballot measures this November.
Expected Sale Start: Undetermined, but regulators would have to implement the program by October 2023.
Type: Limited License Market.
Ballot Predictions: Pass. This time around, the initiative has more support and backing than it did four years ago.
Overview: The Legalization of Cannabis Initiative would issue manufacturing (cultivation and processing) and retail licenses through a competitive process based on specific criteria. If passed, there would be license restrictions. An individual or organization would not be able to hold ownership positions in more than one manufacturing facility or four retail stores, or more than one retail location within 20 miles of another.
- Up to seven manufacturing (cultivation and processing) licenses would be awarded.
- Up to 18 retail licenses would be issued.
- An individual or organization may not hold an ownership position in more than one manufacturing operation or four stores, or more than one store within 20 miles of another.
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