State Cannabis License Updates to Watch in Fall/Winter 2024

Election Outlook and New License Opportunities

There may only be a few months left in 2024, but that doesn’t mean there’s any slowing down in the cannabis space this year. Between election ballot measures and upcoming license application windows, there’s plenty of states we are watching and would recommend you do the same to find ripe cannabis opportunities in. 

 

California – Local Cannabis Has Room

What? How is this possible? Despite being one of the most mature cannabis markets in the country, California still has plenty of room for growth.

Multiple cities are opening up applications or are on the verge of doing so. This includes Redondo Beach, Santee, and West Sacramento.  

 

Florida – The 2024 Election Brings Hope

Multiple states have cannabis measures on their ballots this year, but perhaps none have garnered as much attention as Florida. This legalization amendment comes eight years after voters approved of medical cannabis in the state, though the rollout has been, sufficient to say, poor.

After two years of legal wrangling, legalization is finally on the ballot though, there’s still much to be desired with this given there will be no social equity component, no employment protections, and no home cultivation.  

 

Nebraska – Midwest Cannabis Is Heating Up

Like Florida, we have another ballot measure coming in Nebraska. Not wanting to be overshadowed, Nebraska actually has two ballot measures; Nebraska Medical Cannabis Regulation Act would legalize possessing, manufacturing, distributing, delivering and dispensing cannabis for medical purposes while the Nebraska Medical Cannabis Patient Protection Act would further establish medical cannabis regulations. This is a long time coming, and we’re not yet done with plains states.  

 

North Dakota – Another Chance At Legalization

Stunningly, North Dakotans have had the chance to vote on legalizing cannabis on three separate occasions in just six years. Measure 5 in the 2024 election would allow for legal adult-use cannabis and home cultivation without establishing a social equity program or criminal justice reform.  

 

Rhode Island – Social Equity Licenses Coming

A break from the ballot box, and we turn to Rhode Island which is in the process of rolling out specialty social equity licenses. There is still considerable debate over the exact definition of disproportionately impacted areas, but these new rules should be established shortly which would then pave the way for a lottery for 24 new retail licenses issued by the Rhode Island Cannabis Control Commission.  

 

South Dakota – A New Measure For Legalization

Like its neighbor to the north, South Dakota has had many chances over the last several years to legalize adult-use cannabis, and this year comes another opportunity.

Unlike North Dakota though, the state did legalize simultaneously medical and adult-use cannabis in 2020, but the ballot amendment for adult-use was ultimately tossed by the state’s Supreme Court. Now, Initiated Measure 29 would, like North Dakota, see adult-use legalized along with home cultivation.  

 

U.S. Virgin Islands – The Application Window Is Here

And finally, not a state but a territory. The U.S. Virgin Islands legalized cannabis for adult-use last year and the territory is ramping up its issuance of six license types for cultivators, manufacturers, dispensaries, testing facilities, research and development, and micro-cultivation.

The first application window for these micro-cultivators is scheduled to open November 4 on a rolling basis and subsequent 45-day application windows for other license types such as cultivators, manufacturers, and dispensaries will come out on a staggered basis throughout the rest of this year and into 2025.  

 

Trust The Cannabis Consultants With Experience In Your State

There is so much to be excited about with cannabis in the coming weeks. And we haven’t even started talking about the implications of rescheduling at a federal level.

If you want to get started in the cannabis space, or want to expand your operations into a new market, don’t hesitate to reach out to Canna Advisors for more help on financial modeling, business planning, license pursuits, and more to assist with all your cannabis operational needs.

Contact our cannabis experts or book an hourly consultation today.