Texas Cannabis Business Opportunities
Rumblings of Cannabis Expansion in Texas
Texas remains one of the few states without a comprehensive medical marijuana program, despite 83% of Texans supporting medical and 60% in favor of full legalization.
Currently, medical cannabis in the state is capped at 1% THC, tightly regulated under strict rules, authorized for use to treat a very short list of conditions, and competing with less-restricted neighboring states like Texas and Oklahoma.
With the upcoming 2022 election cycle, there are some rumblings that we could see some progress – at least on the medical front. Some on-the-ground sources go as far as saying we could see an expansion of the current medical program as early as this October. Otherwise, all eyes will be on the legislative session that begins in January 2023.
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Canna Advisors helped clients in the early stages of the current limited licenses in Texas and has consulting experts on the ground in the state to help navigate the upcoming opportunities.
Contact our Texas cannabis consultants now to be ready for new opportunities.
Texas Cannabis Opportunities
With full cannabis legalization, Texas is poised to become a leading cannabis market given its ranking as the second highest population in the U.S. – close to 30 million – and the strong level of support shown in the polls.
Patient numbers in the state have already increased four times in the past year after lawmakers increased the THC limit to 1% from 0.5% and added cancer and PTSD as qualifying conditions. Onerous operating regulations and extreme limitations on access, however, remain a significant barrier to allowing Texans access to cannabis. Even with the 4x growth, the tally of patients is less than 30,000 in a state of about 30 million residents.
Perhaps the recent comments by Texas Agriculture Commissioner Sid Miller – the highest ranking Republican official in the state – are a harbinger of change. Miller’s written statement “Standing Up for Compassionate Use” said that he had “seen firsthand the value of cannabis as medicine” and that it is “his goal next year to expand access to the compassionate use of cannabis” as a top priority.
Other Actions to Take Now in Texas
Research. Advocate. Register to Vote. Vote.
The 2022 election brings an opportunity for Texas voters to elect more cannabis-friendly representatives.
Take these important actions between now and the November 2022 elections:
- Research cannabis-friendly candidates
- Advocate for and support these select candidates
- Register to Vote
- Make sure your friends and family are registered to vote
- Remind your friends and family to vote