MJBizMag September 2022 - 30

INDUSTRY DEVELOPMENTS State by State
New Mexico
Adult-use cannabis sales in New Mexico are holding steady after the market launch in April.
According to the New Mexico Regulation and Licensing Department, the state's marijuana retailers
recorded $21.2 million in recreational sales and $16.5 million in medical cannabis sales in June.
Albuquerque marijuana stores sold the most cannabis in June at $13.6 million, according to state
figures. The second-highest was Santa Fe at $3.2 million.
" As adult-use sales remain steady, this new industry is bringing new economic opportunities for
entrepreneurs and communities across New Mexico, " said Carolina Barrera, acting director of the
state's Cannabis Control Division.
New York
Regulators took further steps to advance the state's upcoming adult-use marijuana market, approving
application forms for retail licenses and accepting 20 more cultivation permit applications, bringing
the total number of approved growers to 223.
The retail licenses are part of the state's social equity efforts.
Separately, New York regulators publicly identified the 52 allegedly illicit marijuana stores that were
sent cease-and-desist letters earlier this year and reiterated how such shops undercut the state's
equity goals. The state's Office of Cannabis Management notified the operators that they could be
barred from participating in the upcoming multibillion-dollar recreational marijuana market if they
don't cease operations.
North Dakota
New Approach North Dakota, the backers of a measure to legalize a recreational marijuana market in
the state, said they submitted 25,762 signatures to the secretary of state's office.
That's 10,000 more than the 15,582 signatures required to qualify the referendum for the state's
November ballot. The measure calls for state regulators to adopt rules to implement the adult-use
cannabis program by Oct. 1, 2023.
Regulators would issue no more than seven manufacturing licenses and 18 store licenses, according
to the referendum.
Oklahoma
State regulators enacted a nearly two-year moratorium on new medical marijuana grower, processing
and dispensary licenses to catch up with a backlog of work and raise business-compliance levels.
The state has one of the most business-friendly medical cannabis programs in the country, which
has resulted in thousands of licensed operators.
But regulators have struggled with curbing illicit marijuana activity and getting businesses to
comply with industry regulations. Current licenses and renewals won't be affected by the moratorium.
Separately, Oklahomans for Sensible Marijuana Laws submitted more than 164,000 signatures to
the secretary of state to get State Question 820, an adult-use marijuana legalization measure, on
the ballot in November. A second measure, State Question 819, would legalize cannabis through a
constitutional amendment; it, too, is expected to make the November ballot.
Pennsylvania
A proposed bill would shield from prosecution banks, credit unions and insurance companies that do
business with regulated marijuana companies in the state.
Gov. Tom Wolf is considering House Bill 331, which passed Pennsylvania's House of Representatives
and was amended by the state senate. While the bill would prevent prosecution under state laws,
companies would not be immune from federal statutes.
Cannabis sales through Pennsylvania's medical marijuana program are estimated to total between
$1.6 billion and $2 billion this year, according to the 2022 MJBiz Factbook.
30 September 2022 | MJBizMagazine

MJBizMag September 2022

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