Notable Players
No MSOs currently

A Deeper Look At This State

Regulatory Framework

The polls have shown that the majority of Rhode Island residents and Governor Dan McKee are in support of adult-use legalization.

The state took a significant step towards legalization when a negotiationg group of state legislators announced on March 1st of 2022 that they had reached a compromise on legalizing adult-use cannabis.

The Cannabis Control Commission will be formed to regulate the legal cannabis market and new regulatory framework associated to the bill. The legalization will include a social equity component to communities that have been disproportionally impacted by cannabis criminalization, similar to other states that have recently legalized adult-use cannabis.


What's the Play?

With adult-use legalization on the horizon, a wait and see approach to The Ocean State probably makes the most sense. As with other states, we expect the current incumbents to enjoy a first mover advantage but it is unclear now how many licensed operators will ultimately be allowed.

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

21+ Population

~0.8MM

Annual Tourists

~
25
MM

Medicinal Legalization

2005

Adult-Use Legalization

N/A

First Adult-Use Sales

N/A

MMJ Patients

~22K

Monthly Revenue

~$6MM

Cultivation Cap

No Limit

Cultivation Licenses

68/No Limit (Operational/Limit)

Retail Licenses

3/9 (Operational/Limit)

Retail License Cap per Operator

1

Vertical Integration

Allowed

Delivery

Allowed

MMJ Qualifications

Restrictive

Adult Population/ # Retail Licenses

Accepts Out of State MMJ

Yes

MMJ Patients / # Retail Licenses

~7.3K

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

Have questions? Reach out to the team

Co-Founder & CEO
Chicago
Managing Director
Los Angeles
Head of Debt Capital Markets
Chicago
Shit We Don't Know

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