There's an abundance of opportunity to start a cannabis business in the United States, and there's only more to come after state elections. Maine just launched their adult-use market, Michigan is making stand-alone adult-use cannabis licenses available, and Vermont just legalized adult-use sales and businesses - check out the latest!
NATIONAL HIGHLIGHTS
House Votes In Favor Of Cannabis Banking Protections For A Third Time
For the third time in just over one year, the House of Representatives approved legislation that would protect banks that service state-legal cannabis businesses from federal prosecution. The Secure and Fair Enforcement (SAFE) Banking Act was included in the coronavirus relief bill that members approved on the floor earlier this month. This is the second time that the language of the SAFE Act was added into a pending coronavirus relief bill by the chamber, after the act was also approved by them as a stand-alone bill. Cannabis businesses are being heard and banking protections are sure to come. (Marijuana Moment)
STATEWIDE CHATTER
Maine
Maine residents were able to begin purchasing recreational cannabis on October 9, 2020. However, a potential supply shortage is concerning consumers. Maine began accepting applications for recreational cannabis business licenses in December 2019 and the state’s first licenses were issued last month. A total of only eight adult-use retailers have become licensed. The market has some growing to do as the state continues to accept applications and license businesses. (Washington Post)
Michigan
Beginning on March 1, 2021, Michigan’s Marijuana Regulatory Agency (MRA) will erase a regulation that required businesses to hold a medical cannabis business license in order to apply for an adult-use license. Once the new rules take place, entrepreneurs will be able to apply for stand-alone adult-use cannabis licenses. The plan will present new business opportunities in Michigan’s adult-use industry, including social equity licensing. (Bricks & Mortar Cannabis)
New Jersey
Gov. Phil Murphy is campaigning to promote the marijuana legalization referendum on the state’s November 3rd ballot. He has stressed the importance of the initiative passing during the election after it failed to pass during the last legislative session. Senate Judiciary Committee Chairman Nicholas Scutari said the governor’s office and legislative leaders have been working in recent weeks to finalize a detailed bill to implement legal market regulations if voters approve the initiative on election day in two weeks. (Marijuana Moment)
Vermont
Vermont successfully passed the legalization of adult-use cannabis sales and businesses as Gov. Phil Scott allowed SB 54 to take effect without his signature. This is a long-awaited victory, as the state has been working to legalize a regulated adult-use market since recreational use and possession was legalized in 2018. The legislation establishes that a new government body, known as the Cannabis Control Board, will regulate the program and approve licenses for retailers, cultivators, product manufacturers, wholesalers, and labs. The board will have two years to finalize regulations, accept applications, and start issuing licenses. (Vox)
GET TO KNOW UNITY RD. FROM SOMERSET, NJ.
Unity Rd. in Somerset, NJ, is your premier destination for top-quality cannabis products and exceptional customer service. Located conveniently in the heart of Somerset, Unity Rd. offers a wide selection of premium cannabis strains, edibles, concentrates, and accessories to meet all your needs. Our knowledgeable and friendly staff are dedicated to providing a personalized shopping experience, ensuring you find the perfect products to suit your preferences. Whether you're a seasoned connoisseur or new to cannabis, Unity Rd. is here to guide you on your journey. Visit us today at Unity Rd. Somerset and discover why we're the go-to dispensary in the area.
For more information, check out our website at www.Unity-Rd.com.
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