Minnesota's cannabis industry is experiencing significant delays, with many hopeful retailers now expecting they won’t be able to open their doors until 2026.
OG Article: here
View our Fair Use Policy: here
This slow pace has caused frustration among applicants, who had initially hoped for a quicker rollout following the state’s legalization of marijuana in May 2023.
The state's Office of Cannabis Management (OCM) is currently reviewing over 1,800 applications for 282 social equity licenses, a process that is proving time-consuming as officials work to ensure that applicants meet the ownership requirements and are not being fronted by out-of-state corporations.
OCM is committed to a thorough review to prevent such issues, which is contributing to the delay. Rep. Nolan West criticized this extensive review process as unnecessary, noting that licenses can be easily transferred, making the effort less effective.
Despite the sluggish progress, OCM maintains that it is on track to hold a lottery for pre-approval of licenses by the end of 2024.
However, this will only be the first step in a process that includes a second lottery for general applications and final licensing. Even with a best-case scenario, it will take 22 months from legalization before any licenses are issued, likely in March 2025.
But many applicants are doubtful that business openings will occur before 2026.
This delay positions Minnesota as one of the slowest states in the country to transition from legalization to the opening of retail cannabis sales.
Neighboring Ohio, for instance, legalized cannabis six months later but has already commenced sales.
Minnesota officials are asking potential retailers to "remain patient," emphasizing the importance of due diligence, but the protracted timeline is testing the patience of those eager to enter the legal market.
Commentaires