Kentucky is moving closer to launching its medical marijuana program, with the lottery for business licenses set to begin next month.
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The state received an overwhelming response, with nearly 5,000 applications submitted before the application window closed at the end of August. Of these, a staggering 4,096 were from individuals seeking licenses to open dispensaries, but only 48 of those will be awarded licenses.
Governor Andy Beshear highlighted the strong interest in the program, particularly from Kentuckians, stating that the level of engagement proves the program is on track to achieve its goals. Beshear confirmed that the state is currently processing all of the applications, with the lottery being divided based on different business roles. The first licenses to be awarded in the coming month will go to processors and cultivators, ensuring the program stays on schedule for its January 2025 launch.
One concern remains the availability of cannabis products by the launch date. With licenses being awarded only in the next few weeks, it is uncertain whether there will be sufficient product on shelves by January. However, Beshear reassured that a backup plan is in place. If product shortages arise, he plans to keep an executive order in effect, which would allow qualified patients to obtain medical cannabis from neighboring states such as Ohio under certain conditions.
Kentucky's medical marijuana program is notably limited, only allowing individuals with specific qualifying medical conditions to purchase cannabis. As a result, the demand for cannabis is expected to be lower than in states with fully legalized marijuana markets, meaning the initial product supply should be sufficient for the needs of the state's patients.
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