Marijuana Possession Limits Doubled In Nevada, Crowded Weed Market In New Mexico And More Pot Reg Updates

Arizona Shoppers Increase Marijuana Spending

• In March, Arizona recreational cannabis sales surpassed the nine-figure mark for the first time since the marijuana market kicked off in 2021, reaching $100.7 million, reported Green Market Report citing the Department of Revenue's data. Medical cannabis sales for the same period totaled $32 million.
• In April, the adult-use market saw a slowdown garnering $86.4 million in sales, with $30.2 million in sales on the medicinal side.
• The Grand Canyon State welcomed adult-use cannabis legalization in November. Three months later, it commenced the sales. Recreational marijuana sales hovered around $1.4 billion in 2022, much like in 2021.

New Mexico Group Looks to Rebalance Cannabis Industry

• In New Mexico, a group of nearly 100 dispensaries, producers, and private citizens seeks to make the state's cannabis industry less crowded.
• The coalition blamed market saturation of regulated and illegal cannabis products in New Mexico.
• "These two factors are resulting in homegrown small and medium-sized cannabis businesses being forced to close their doors or lay off staff," the group said in a letter to the governor's office. "Our local businesses simply cannot compete with the illicit market and the immense oversupply."
• Ever since New Mexico legalized adult-use cannabis, the state has issued over 1000 cannabis dispensary licenses.

Missouri Preps For Cannabis Microbusiness Opportunity

• Missourians interested in joining the state's cannabis market can buy a ticket for the lottery to get in, reported Missouri Independent. The cost of their ticket is a $1,500 application fee for the chance to partake in a lottery, where a limited number of cannabis microbusiness licenses are up for grabs.
• If they do not get selected, the payment is refundable.
• Missouri is expected to distribute 48 microbusiness licenses this year under Amendment 3. The 2022 law expanded the existing medical cannabis program statewide by allowing licensees who already sold cannabis statewide to serve both medical and non-medical purchasers.
• The "microbusiness license" program seeks to hand out cannabis licenses to those in communities negatively affected by marijuana criminalization.
• Abigail Vivas, the state's new chief equity officer, held several outreach events recently, during which she went through all the eligibility requirements for a microbusiness license.

New Regulations in California Capital Target Illegal Cannabis Grows

• Under a new measure, the Sacramento City Council voted 8-1 on allowing the Police Department to fine those illegally cultivating cannabis on commercial properties and vacant lots.
• Since 2017, the city has had a law in place whereby police can only issue fines for illegal grows at residences. The policy change addresses the trend of illicit growth decreasing in homes but increasing elsewhere.

Marijuana Possession Limits In Nevada Doubled

• A comprehensive marijuana reform bill, aiming to increase marijuana possession limits and remove barriers in the industry, was signed by Nevada Gov. Joe Lombardo.
• Sponsored by Sen. Dallas Harris (D), the cannabis omnibus legislation passed the Assembly by a vote of 28-14 earlier this month.
• Bill SB277 more than doubles the personal possession limit from one ounce to 2.5 ounces and allows for the possession of larger quantities of cannabis concentrates.

Photo: Courtesy of Wesley Gibbs on Unsplash