NJ’s first adult use sales numbers are in.
The Cannabis Regulatory Commission announced that adult use sales between April 21 and the end of June came in just under $80 million, yielding just under $5 million in tax revenue.
However, the emphasis of the announcement was on “room in the market to grow.”
“The market is improving. It is performing as we expect with the current number of dispensaries, the spread of locations, and the high prices” said Jeff Brown, CRC’s executive director, in the announcement. “As more cannabis businesses come online, consumers won’t have to travel as far to make purchases, and prices will fall with increased competition. The market will do even better.”
NY’s first adult use shop applications to open.
Last month, as Cannabis Wire reported, regulators approved the rules for the first adult use retail licenses that will be made available in the state.
What remained up in the air, though, was when the application window would open for these Conditional Adult-Use Retail Dispensary (CAURD) licenses.
On August 11, the Office of Cannabis Management gave a date: August 25.
It will remain open for one month.
“Today’s announcement brings us to the precipice of legal, licensed cannabis sales in New York State,” said Tremaine Wright, chair of the Cannabis Control Board, in the announcement.
A minor reprieve for Arkansas’ legalization campaign.
As we recently reported in this newsletter, the Arkansas Board of Election Commissioners rejected an adult use measure that had collected enough signatures for the ballot. Commissioners said the ballot title was unclear.
On August 10, the state’s top court granted Responsible Growth Arkansas’ motion for a preliminary injunction, which clears a path to the ballot. However, the legal dispute between the campaign and the Board is ongoing, so the fate of the adult use effort remains murky.