Governor Phil Scott (R) signed adult-use cannabis legislation in October 2020. Industry pundits project Vermont to be a ~$150MM market by 2025.
We anticipate the five existing vertically integrated medical licenses to benefit from this. That said, Vermont opened the application period for adult-use cannabis licenses in early April of 2022. It has not yet been stated when the licence winners will be announced.
There is no notable activity at this time.
Vermont is a tiny state and will therefore be a tiny cannabis market. In the absence of sizeable investment opportunities, look to Vermont to brand the first infused maple syrup.
*Vertically integrated licenses