Minnesota’s Cannabis Market Takes a Step Forward
The Office of Cannabis Management (OCM) has announced that it will hold its first lottery for cannabis business licenses on June 5, marking a significant milestone in the state’s journey to establish a recreational marijuana market. The lottery will determine the winners of licenses for cannabis cultivators, manufacturers, and mezzobusinesses, as well as social equity applicants seeking to open cannabis retail shops.
One of the lucky winners is Lucky Strains, LLC, a CBD and THC shop in New Brighton, which has been pre-approved for a cannabis retail license. Owner Sarabear Kelly-Modlin expressed her excitement about the opportunity, stating that Minnesota is ready for the legal cannabis market.
The process of establishing the market has been long and arduous, with legal challenges, delays, and opposition slowing progress. However, lawyer Jason Tarasek, a leading expert on Minnesota cannabis law and policy, believes that the state is close to launching its recreational marijuana market.
The OCM will also hold a lottery for general applicants seeking to open cannabis retail shops, including a second chance for social equity applicants who were not selected in the first lottery. This will provide more opportunities for businesses to enter the market.
The first recreational marijuana shops could open as early as July, pending successful completion of the licensing process. Businesses will need to satisfy zoning requirements, city registration, and set up their spaces before they can begin operating.
Lucky Strains, LLC is ahead of the game, with owner Kelly-Modlin aiming to open her shop in July. The business has already gained popularity for its CBD and THC products, which are used by customers to manage daily life, including reducing inflammation, stress, and improving sleep.
Minnesota’s cannabis market is expected to be a significant contributor to the state’s economy, providing new job opportunities and revenue streams. The OCM’s lottery will be a crucial step in establishing the supply chain and paving the way for the state’s recreational marijuana market to take off.
