Several MSOs, including Curaleaf, Green Thumb Industries and Trulieve, have spent tens of millions of dollars in the past two years to enter or expand in Connecticut’s MMJ market and position themselves for the possible legalization of recreational cannabis.
In addition, any adult-use market is expected to generate license and ancillary opportunities for a number of Connecticut-based enterprises, including social equity applicants and small businesses.
Marijuana Policy Project, investment analysts and industry officials all believe Connecticut is likely to be one of the next states to legalize a commercial adult-use market.
They point to pandemic-induced budget woes and pressure from voter-approved, adult-use legalization in nearby New Jersey.
Gov. Ned Lamont, a Democrat, is pushing hard for legalization and, before the coronavirus pandemic, participated in a summit hosted by New York Gov. Andrew Cuomo to develop a regional framework for commercial recreational marijuana.