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Cannabis Briefs for January 14, 2025

January 14, 2025

•Green Thumb Industries’ plan to open a wave of Rise-branded dispensaries adjacent to Florida locations of gas and convenience chain Circle K has hit another snag, with a Florida administrative judge upholding a prior ruling forbidding the expansion. The ruling affirms the stance of the state’s Office of Medical Marijuana Use, which previously denied GTI’s attempts to open Circle K-adjacent dispensaries. Announced in October 2022, the plan was for GTI to open roughly 10 test locations attached to or next to Circle K’s throughout Florida. By April 2023, the deal was under legal scrutiny.

•Missouri’s adult-use cannabis market reached new heights to close out 2024, with December sales climbing to just under $131 million, a 2% jump over the previous record, set in November. For the year, sales were up roughly 10% to $1.46 billion. Cannabis sales since 2020 have reached $3.4 billion. The bulk of sales in the state are from adult-use consumers, with the state’s medical market contributing around $15 million per month. For the state’s current fiscal year, cannabis sales have brought in just under $22 million in tax funds.

In just five months of adult-use sales, Ohio cannabis sales reached nearly $250 million. According to the Department of Commerce Division of Cannabis Control, Ohioans have purchased approximately 32,500 pounds of cannabis and over 4 million manufactured products since sales began last year. Currently the state has 124 dispensaries that serve both medical and adult-use sales. While the state is off to a strong start, the market has developed with some opposition. Over 120 municipalities in the state have banned adult-use sales and the state government is expected to enact more regulation governing cannabis and hemp-derived THC products, with the latter potentially facing a ban supported by Governor Mike DeWine.

•Nevada’s legal cannabis sales once again slumped, with the state blaming a lack of enforcement against the illicit market for the year-over-year declines. For the last fiscal year, Nevada cannabis sales were at $829.2 million, declining from $848 million in 2023. The decline began in 2022, after Nevada’s cannabis sales cracked $1 billion in 2021. The problem, according to regulators, is that the state’s Cannabis Compliance Board has no enforcement power, essentially unable to crack down on illicit sales.

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