Gov. Tate Reeves (R) signed SB2095, legalizing medical marijuana, into law in early February 2022. Mississippi is the 37th to enact the policy change in the country.
Medical dispensaries are limited to selling cannabis flower or trim that consists of less than 30% total THC.
As of July 2023, almost 48 cities have opted out of the program.
There is no notable activity at this time.
While the state issued many licenses upon medical legalization, there are still many licenses that have yet to begin operations. Despite this though, Mississippi has proved to be a strong performer with medical sales reaching over $4M in July 2023. Adult use is still not allowed and there doesn't seem to be much legilative action, the path to legalization though does not seem to be unrealistic. The state's treatment of the medical program is a promising sign for future policy.
Operators should try to enter the market while many licenses have yet to become active. Sales have proven resilient and opportunity exists if operators have the patience.
*After the limit is met for a single operator, they can have interest in other locations, but their interest can not exceed 10%