Governor Ned Lamont signed SB 1201 on June 22, 2021, officially legalizing recreational marijuana. A compromise agreement gives social equity applicants priority status in obtaining cultivation and retail licenses.

Prospective adult-use cannabis operators must make a "good-faith effort" to enter into a labor peace agreement with a union before receiving its final license.

Under the agreement, local jurisdictions could prohibit retail sales through zoning ordinances, but residents could petition for a local referendum on the issue.

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November 2021 | Verano completed the acquisition of Willow Brook Wellness, LLC as well as entered into definitive agreements to acquire Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc.

July 2020 | Curaleaf acquired Arrow Alternative Care Dispensaries

January 2019 | GTI acquired Advanced Grow Labs

Adult use sales began in January 2023 and the state has performed steadily ever since. Total cannabis sales reached 25.4MM in December 2024, bringing total sales for the year to $293.5MM.

Major MSOs have already entered this state through acquisitions and will benefit from first-mover-advantage. The Constitution State enjoys an attractive population density with a limited license regulatory framework. Look for the regulatory framework to expand, allowing for more patients and revenue while the northeast continues its march towards full legalization thanks to pressure from adult-use neighbors Massachusetts and New Jersey.