MJBizMag January 2022 - 10
FROM THE EDITOR Kate Lavin
(Mostly) Unlimited Possibilities
From the Northeast to the Southwest, the industry is ready to take off
W
ith six states poised to
launch marijuana sales
in the year ahead, 2022
is shaping up to be a big one for
the cannabis industry.
Organized by predicted market
size, these states-New Jersey,
Connecticut, New Mexico,
Montana, Vermont and South
Dakota-represent a hodgepodge
of attitudes, licensing structures
and business friendliness.
Starting on page 32, reporter
Omar Sacirbey takes an in-depth
look at these upcoming marijuana
markets to learn what they offer
for entrepreneurs. In addition to
learning about license types and
social equity initiatives in each
location, readers will hear from
stakeholders about where the
business opportunities are-and
are not.
Licensing Tight Rope
Regulators in existing markets
have struggled for years to find
the right balance of cannabis
business licenses.
Limit the number of licenses too
severely, and only well-capitalized
multistate operators will clear the
hurdles. Eliminate license caps
entirely, and plant-touching companies
often struggle with a glut
of product.
The states welcoming regulated
marijuana in 2022 have taken
a variety of steps to address
equity in licensing, and it will
be interesting to see how their
solutions fare as these markets
mature. The majority of the new
markets aren't limiting cannabis
licenses at the state level, and
10 January 2022 | MJBizMagazine
some have taken the rare step of
forbidding municipalities from
banning marijuana businesses
altogether.
" With six states poised
to launch marijuana
sales in the year
ahead, 2022 is shaping
up to be a big one for
the cannabis industry. "
the regulated market is already
booming.
Meanwhile, Connecticut is the
only market to institute statewide
license caps across all sectors. But
regulators there are working to
diversify the industry by reserving
50% of all licenses for social
equity applicants. Hopefully the
lottery process runs smoothly,
allowing social equity businesses
to get up and running. Those
familiar with the state's regulated
marijuana landscape say more
cultivators will be needed quickly
to supply what is likely to be a
popular market.
Montana took one of the more
inventive stances on the issue,
dictating that only counties
where voters passed recreational
marijuana can offer cannabis
business permits. Whether license
caps are implemented is also left
to local discretion.
Time will tell whether counties
that voted against adult-use
marijuana legalization will regret
that decision when fees and salestax
dollars start rolling into their
neighbors' bank accounts.
A Tale of Two Markets
New Mexico has no license
caps, no bans on product
types and no state residency
requirement, making it one of
the most wide-open states for
cannabis entrepreneurs to do
business. And with 6% of New
Mexico residents registered in
the medical marijuana program,
The Year Ahead
Also in this issue, regulatory and
government reporter Jeff Smith
identifies the states likely to
address marijuana legalization in
2022 through voter referendums
(see page 54) or state legislatures
(page 58). Be sure to subscribe to
the MJBizDaily newsletter to stay
on top of these issues and more.
From everyone here at
MJBizMagazine, we wish you a
safe and prosperous 2022!
Kate Lavin
MJBizMagazine Editor
Reach Kate Lavin
at kate.lavin@
mjbizdaily.com.
MJBizMag January 2022
Table of Contents for the Digital Edition of MJBizMag January 2022
MJBizMag January 2022 - 1
MJBizMag January 2022 - 2
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