Connecticut receives dozens of applications from aspiring medical cannabis entrepreneurs, a Pennsylvania court tosses a lawsuit that could have undone the state’s medical marijuana program, and Florida hits 100,000 MMJ patients.
Here’s a closer look at some notable developments in the marijuana industry over the past week.
East Coast MMJ rising
News that Connecticut regulators received more than 70 dispensary license applications – after expanding the MMJ program from nine dispensaries to as many as 19 – highlights a regional trend: New medical cannabis business opportunities continue to arise in the eastern United States.
“There’s still a lot of room to grow in most of these medical markets on the East Coast,” said Kris Krane, managing partner of Boston cannabis consultancy 4Front Ventures.
What makes these markets attractive? “You have huge populations and limited licenses,” Krane noted.
“People are looking at the Northeast as a region that, if you can get in, these businesses are likely to be pretty lucrative.”
Several eastern states besides Connecticut have moved to expand their programs or patient base by approving new medical conditions or