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Cannabis licensing delays in Connecticut affecting total sales

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Nearly a year after Connecticut launched adult-use cannabis sales with only a handful of licensed operators, new entrants are struggling to crack into the market on the Eastern Seaboard.

Dozens of companies are still awaiting final approvals from state regulators as they navigate a lengthy and costly approval process, according to the Hartford Business Journal.

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According to the most recent state data:

36 applicants have received provisional licenses, or temporary approvals, as they work to get fully licensed. Some businesses have up to two years before their licensing window closes. 15 applications are pending.

Access to capital, securing real estate and municipal opt-outs are the primary hurdles facing startups and smaller, independent companies from entering Connecticut’s recreational marijuana market, the Hartford Business Journal reported.

The state’s adult-use market, which is dominated by multistate operators, opened in January with only 13 licensed cannabis companies

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Is hemp the enemy of Florida’s adult-use marijuana initiative?

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Florida hemp businesses are lining up to oppose an adult-use marijuana legalization initiative that will appear on the state’s November ballot, according to campaign finance forms and MJBizDaily interviews.

They’re aggrieved by what they say is a monopoly play for a future adult-use market deliberately engineered by marijuana multistate operators.

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And with more than 10,000 hemp businesses registered in the state – compared with a few dozen large marijuana companies – hemp operators opposed to Amendment 3 believe they have enough money and votes to defeat the recreational marijuana measure largely funded by Tallahassee-based MSO Trulieve Cannabis.

In response, advocates for regulated marijuana operators say the hemp firms are being used as pawns in a game played by Florida Gov. Ron DeSantis, who will

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Trump VP pick Vance opposed marijuana banking but silent on legalization

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U.S. Sen. JD Vance, the Ohio Republican whom Donald Trump picked as his running mate for the November presidential election, is no supporter of federal marijuana reform.

Nor did the 39-year-old former investment banker and “Hillbilly Elegy” author support adult-use marijuana legalization in Ohio last year.

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But Vance doesn’t appear to be much of a cannabis-culture warrior, either, preferring instead to spend his political capital elsewhere.

No ‘friend’ of marijuana industry

“Is Vance a friend of the industry? Absolutely not,” Steve Schain, a Philadelphia-based attorney who specializes in cannabis banking and taxation issues, told MJBizDaily by phone on Tuesday.

“His first and only concern is fortifying and furthering his federal role.

“That being said, like most classic libertarians, he doesn’t want to disturb

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Metrc secures cannabis track-and-trace contract extension in California

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California’s cannabis regulatory agency has extended the state’s contract with Florida-based marijuana track-and-trace software company Metrc.

The new contract took effect July 1, according to California’s Department of Cannabis Control, and will run for four years.

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The state has an option to extend the contract another two years.

The Department of Cannabis Control did not immediately respond to an MJBizDaily inquiry about the value of the contract.

Metrc said in a news release that it will focus on improving transparency and speeding up data-driven responses to support regulators and protect consumers.

According to Metrc, its traceability system is billed to track the life cycle of cannabis-based products, including:

Origin. Testing results. Handling. Chain-of-custody information.

The timing of the contract extension

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