Emerging Markets Roundup: December 2022

AROYA’s monthly emerging markets round-up is our chance to highlight just a few of the recent news stories that caught our eye. From states launching new legal markets to the prospect (and progress) of federal legalization, we’re dropping links to a selection of stories we think growers might want to know about. 

Here’s what’s making the rounds as we approach the end of 2022:

• Missouri officially kicked off adult use after voters legalized it during last month’s midterm election. Sales haven’t started yet, but it’s expected that medical dispensaries will start serving all adults beginning in early 2023. For now, Missouri residents aged 21+ are allowed to possess a maximum of three ounces of cannabis, and cultivate the following for personal use at home: six flowering cannabis plants, six immature cannabis plants, and six plants smaller than 14 inches. Read more at Ganjapreneur…
   
• New Jersey’s Cannabis Regulatory Commission recently approved proposed rules for consumption lounges As currently outlined the proposal allows for both indoor and outdoor spaces in the Garden State, breaks down the application and licensing fees, and stipulates that food, alcohol, and tobacco sales will not be allowed in cannabis consumption lounges. Read more at Cannabis Business Times…
   
• Earlier this month President Biden signed H.R. 8454, the “Medical Marijuana and Cannabidiol Research Expansion Act,” marking the first time a sitting president has signed marijuana reform into law. The legislation creates a new registration process for cannabis research, including manufacturing marijuana products for research and drug development purposes. It also allows universities and private firms to seek licensing from the DEA to cultivate and handle cannabis for research. Read more at MJBizDaily…
   
• Colorado Senator John Hickenlooper recently introduced the Preparing Regulators Effectively for a Post-Prohibition Adult Use Regulated Environment (PREPARE) Act, a bill intended to set the foundation for cannabis legalization at the federal level. The legislation offers guidance to the U.S. attorney general on a federal regulatory structure, which is modeled after current alcohol regulations. Read more at DOPE Magazine… 
   
• According to Whitney Economics’ recently released 2022 U.S. Cannabis Supply Report, the cannabis and hemp consulting firm found that the supply of cannabis in the U.S. reached 48.8 million pounds this year. The study – which includes both legal and illicit cannabis flower, and all form factors including edibles and concentrates – also estimates that legal cannabis will overtake underground supply by 2026. Read more at PRNewswire...

As we close out 2022, more Americans than ever live in states with some form of access to legal cannabis – proof that this plant, its medicine, and the industry are here to stay. And AROYA is excited to continue the journey into 2023!

Got the scoop on something going on in your emerging market? Email it to mandy.spivey@metergroup.com so we can cover it!

And be sure to check back with us for news and important topics for cultivators, operators, investors, and anyone who wants to stay on the forefront of this amazing time in the world of cannabis and crop steering.