Rhode Island Cannabis Regulator Discusses New Licenses, Data And Regulation Oversight

In a recent TV interview, Rhode Island's Cannabis Control Commission Chair, Kimberly Ahern, covered a few topics related to the state's cannabis industry such as issuing new retail licenses, the availability of hemp-derived cannabinoids, and an error in state-reported sales data.

According to Marijuana Moment, Ahern emphasized that they are taking a cautious approach to managing the adult-use cannabis market. She stressed the need for caution in issuing new retail licenses as regulators want to make sure they make the right rules based on the law and the experiences of other states.

“The goal would be to issue licenses in 2024 with the huge caveat that other states that have done this have taken several years,” Ahern said.

She explained that changing from illegal to regulated cannabis is a big deal, so they need the government to oversee the process. “We’re moving a substance (...) into a regulated space. And so I do think we need government oversight,” she said in response to co-host Tim White's comment about people being disappointed due to the fact that there are 60 licensed cannabis growers, but they can't sell everything they produce.

In addition, there were some issues with the data about cannabis sales going back to December 2022. These problems were due to errors when they put the information into the state's tracking software.

Ahern mentioned that the commission wasn't in charge of this data; it's the state Office of Cannabis Regulation (OCR)'s job, she said. This number has been going up since December, with only small differences.

“It’s my understanding that none of that changed the top line many people are most interested in, which is total sales and adult use, which since December of last year has consistently ticked up,” Ahern concluded.

Read the full story here at Marijuana Moment. 

Did you miss the first wave of cannabis investments? Don’t make that mistake again. Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth. Join Benzinga PotProfitsBenefit from Michael Berger’s sharp analysis, revealing top cannabis stock opportunities and timely updates. Experience the potential of 10%+ returns in just 90 days. Our 4.5-star Marketfy rating speaks volumes. Secure your position in this booming sector with a 30-day money-back guarantee. The time to invest is now before everyone else realizes it. Secure your profits with Benzinga. Click here now to learn more.

Image by YouTube

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsRegulationsPoliticsMarketsGeneralKimberly AhernMarijuana MomentRhode Island Adult Use CannabisRhode Island cannabisRhode Island Cannabis Control CommissionRhode Island Office of Cannabis Regulation
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.