This medical market is among the most restrictive. Minnesota’s Legislature approved smokable flower for medical cannabis patients, which could significantly boost sales in what has been a heavily regulated MMJ market that has only two operators.
A bicameral conference committee approved the policy change as part of a broader omnibus bill related to healthcare. House members then approved the report Monday with a vote of 77 to 57. The Senate then approved the same report later with a 66 to 1 vote on the last day of the 2021 legislative session. The bill will now head to the desk of Governor Tim Walz. Once signed into law, it will take effect on July 1, 2021.
Watch for the medical market to expand as the current structure makes profitability very challenging. We do not expect significant investment or acquisitions in the near-term.
*Two vertically integrated licenses who were each required to open four dispensaries for a total of eight dispensaries across the state.