West Virginia

insights

September 6, 2023
Notable Players

A Deeper Look At This State

Regulatory Framework

West Virginia officially opened it's first dispensary to medical patients on November 2021.

In January of 2023, Danielle Walker (D) introduced House Bill 2091, aiming to legalize cannabis use in the state in and regulating it similiar to alcohol.

Notable Market Activity

November 2021 | Trulieve opened Trulieve Morgantown, the first dispensary in West Virginia to sell medical cannabis to patients

June 2021 | Trulieve acquired Solevo Wellness West Virginia

What's the Play?

The Mountain State's first medical cannabis dispensary opened November 2021 in a long-awaited moment nearly four years after Gov. Jim Justice (R) signed SB 386 into law. Watch out for an adult use bill now that Gov. Justice has indicated his willingness to sign it into law.

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

~1.8MM

21+ Population

~1.4MM

Annual Tourists

~
4
MM

Medicinal Legalization

2017

Adult-Use Legalization

N/A

First Adult-Use Sales

N/A

MMJ Patients

~27K

Monthly Revenue

~$6.9MM

Cultivation Cap

Unclear

Cultivation Licenses

10/10 (Operational/Limit)

Retail Licenses

50/100 (Operational/Limit)

Retail License Cap per Operator

10

Vertical Integration

Allowed

Delivery

Allowed

MMJ Qualifications

Highly Restrictive

Adult Population/ # Retail Licenses

Accepts Out of State MMJ

No

MMJ Patients / # Retail Licenses

~540

Top Cultivators

Notable Market Activity

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Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data

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Shit We Don't Know

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