As will be discussed in greater detail by the Foley Hoag’s cannabis practice team on its webinar scheduled for September 13, 2023, the New York Cannabis Control Board (“CCB”) and Office of Cannabis Management (“OCM”) took substantial and meaningful steps to open up the full-adult use market in short order. As many may be aware, adult-use cannabis licenses to this point have been restricted to businesses meeting very limited threshold requirements (based on cannabis convictions,… More
With more than $10 million in retail sales during its opening weekend and more than $20 million in retail sales during the first week,
Maryland’s adult-use cannabis market is open for business. Nearly 100 of Maryland’s existing medical cannabis dispensaries and 42 cultivators and manufacturers converted their licenses to now serve both medical patients and adult consumers, but this is just the beginning and new licenses are about to be available.… More
Last week, New York Governor Kathy Hochul unveiled a noteworthy development regarding the New York State Cannabis Social Equity Investment Fund (the “Fund”), as it secured a substantial investment of $150 million from Chicago Atlantic (“CA”). This capital infusion, in the form of a senior secured loan, will be utilized by the Fund to provide “low-interest“ loans to Conditional Adult Use Retailers (“CAURDs”). These loans aim to support and empower CAURDs,… More
Last week the Maryland Cannabis Administration (MSA) released its draft emergency regulations for the state’s adult-use marijuana market which is set to come online on July 1. The draft regulations are subject to review by the Joint Committee on Administrative, Executive, and Legislative Review (AELR) and do not go into effect until approved by the AELR Committee and printed in the Maryland Register. The approval could come as soon as 10 business days after the AELR received the draft regulations.… More
Minnesota’s Governor has indicated he will sign an adult use cannabis legalization bill. HF 100 (the “Final Bill”) emerged from reconciliation and was passed on May 19th.
The Final Bill combines Minnesota’s existing medical cannabis law with provisions allowing for adult-use cannabis into a single statute.
Previous versions of the bill included a requirement that any applicants who are business entities must have at least 75% of the business owned by Minnesota residents.… More
New York’s Office of Cannabis Management (“OCM”) posted today updates to its proposed adult-use regulations (the “Revised Regulations”), in advance of a vote of the Cannabis Control Board (the “Board”) to release them for public comment. While these Revised Regulations merely contain amendments to the robust first set of proposed rules (“Prior Draft”), which were previously broken down and discussed in detail by Foley Hoag,… More
Today is April 28, and Texas and Florida both accepted the expected dozens of applications for a limited number of medical cannabis licenses in those respective states. In the background, Kentucky recently legalized medical cannabis, while Delaware will soon welcome adult use sales. It looks increasingly likely both states will follow the example of other capped license jurisdictions and hold merit-based application sweepstakes to award a set number of licenses.… More
Key Takeaways:
The only guarantees in life are death, taxes, and cannabis lawsuits, and New York is no different. In a cannabis marketplace plagued by fits and starts, the New York Cannabis Control Board (“CCB”) Office of Cannabis Management (“OCM”) have been joined to another lawsuit alleging that its actions to date are ultra vires.
The Coalition for Access to Regulated and Safe Cannabis, an unincorporated trade association consisting of Registered Organizations (vertically integrated medical cannabis permit holders),… More
As the number of adult-use states continues to grow—with New York, New Jersey, Connecticut, Rhode Island, and Vermont recently joining the ranks—the scrutiny of cannabis-related advertising has grown with it. In recent years, state and federal regulators have made it clear that cannabis claims are a priority, especially claims stating or implying a health benefit. Most of the attention to date has been on CBD products and claims, but as THC products hit the shelves in more and more states,… More