Notable Players
No MSOs currently

A Deeper Look At This State

Regulatory Framework

Small but mighty, Rhode Island has an attractive license to state cannabis revenue ratio. Moreover, the state opened up applications for an additional six retail licenses, essentially tripling the current number of retail licenses.

Rhode Island lawmakers met in November 2020 to discuss the legalization framework for 2021. At this point, it is not a question of "if," but "when and how."


Notable Market Activity

August 2019 | Acreage plans to acquire Green Leaf - this agreement was ultimately terminated but shows interest in the state

What's the Play?

Currently three dispensaries are divvying up this $72MM market, so it will be interesting to see if there enough demand to support six additional dispensaries. Look to the six additional retail licenses being issued as they have high ROI potential.

Market Snapshot

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

594/273

By The Numbers

Population

~1.1MM

Medicinal Legalization

2005

Adult-Use Legalization

N/A

MMJ Patients

~19.4K

Monthly Revenue

~$6MM

Cultivation Cap

No Limit

Cultivation Licenses

64/No Limit (Issued/Limit)

Retail Licenses

3/9 (Issued/Limit)

Retail License Cap per Operator

1

Vertical Integration

Allowed

Delivery

Allowed

MMJ Qualifications

Restrictive

State Population / # Retail Licenses

Annual Tourists

~
25
MM

Accepts Out of State MMJ

Yes

MMJ Patients / # Retail Licenses

~6K

Top Cultivators

Notable Market Activity

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data
Shit We Don't Know

Have a tip about this state? Let us know!