Full legalization has bipartisan support in Louisiana, but HB 699 lost by 48-47 in late May 2021. A bill to remove jail time and limit fines for possession was signed into law in June 2021, though after decriminalizing low-level cannabis possession last year, a Louisiana proposal is seeking to reimplement the threat of jail time for minors caught with small amounts of cannabis.
The Governor also signed a bill in June 2021 to allow smokable flower as part of their restrictive medical marijuana program, that took effect January 1, 2022. Since then, Louisiana's medical cannabis patient registration has increased 600%.
In June of 2022, legislations passed a bill to protect workers who use medical marijuana.
In August of 2022, regulators notifed pharmacies that once they reached 3,500 registed patients, they were allowed to open an additional satelite location.
There is no notable market activity at this time.
This market is still in its infancy. Watch for Louisiana to relax medical conditions before state revenue becomes attractive enough for serious investment or acquisition.