Here’s a summary of five key states to watch:
- Lawmakers in Minnesota, New York and Virginia are expected to consider allowing smokable flower – which could double medical marijuana revenues over time. Those three states are projected to generate a cumulative $330 million in medical cannabis sales this year. (See graphic above).
- Texas lawmakers are being pushed to relax an onerous 0.5% THC cap and expand qualifying conditions for MMJ treatment in what is one of the most restrictive markets in the country. That would significantly boost sales in what is now a tiny market in the country’s second-most-populated state.
- In Florida’s fast-growing MMJ market, legislation has been introduced to expand licensing opportunities, including for small businesses. Or regulators could be ordered to do so by the state Supreme Court, which is expected to rule soon on the constitutionality of the state’s MMJ licensing structure.
On top of those five states, reforms of one sort or another are likely to be considered in nearly every medical cannabis market in the country.
While most of the major reforms likely will come through legislation, some will come through administrative or regulatory changes.