The Virginia Senate and House of Delegates, both under Democratic control, passed legislation on February 5, 2021 to legalize use and possession for those 21 years and older. Any plans to roll out adult use sales though have been put on pause as Governor Glenn Youngkin (R) took office in 2022 and has stated he will not support any legislation that aims to legalize the sale of adult use cannabis. As of today, adults 21 and older may legally possess up to one ounce in public but are not allowed to purchase it for recreational use. While adult use sales are prohibited, individuals are allowed to grow up to four cannabis plants in their homes.

The state allows cannabis extracts only, such as vapes, edibles, topicals, etc., limited to 10 milligrams of THC per dose. Vertical integration is required for the five licenses permitted, allowing six retail locations per operator.

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July 2022 | Verano Holdings announced plans to acquire Pharmacann Virgnia (MedMen) for $5MM

May 2021 | GTI announced plans to acquire Dharma Pharmaceuticals

June 2020 | Virginia striped financially troubled MedMen of its license for not moving forward on its Staunton-based location

September 2019 | Jushi acquired 62% of Virginia-based pharmaceutical processor Dalitso

With an attractive population density like other states in the northeast, this market has real potential. The Mother of States has been given a vote of confidence by some of the largest MSOs, including Columbia Care and Jushi. Other MSOs will be looking to enter the state but with caution as legalization attempts have stalled.

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