Minnesota is on the verge of issuing hundreds of marijuana business licenses, having received more than 3,500 applications from aspiring entrepreneurs. The state Office of Cannabis Management released this information recently, indicating that the first round of licenses is expected to be awarded later this spring.
Among these applications, there are 1,444 social equity requests that remain active after a prior license lottery was canceled last year. Additionally, 2,085 new applications were submitted during a monthlong period that ended on March 16. This new tally includes 297 social equity applications and 1,788 general applications for various license types, such as cannabis retailer, cultivator, and manufacturer licenses.
This influx of applications means that as many as 2,100 individuals could be eligible to receive licenses for operating at least one retail marijuana store in the upcoming months. Furthermore, around 2,000 businesses may gain permission to cultivate cannabis in varying quantities. The transition to adult-use cannabis in Minnesota is set for early 2025, while neighboring Wisconsin remains under a total ban on adult-use cannabis, both medical and recreational.
Dillon Beyer, co-owner of Tree Huggers Cannabis, explained that the rollout of legal cannabis in Minnesota could have significant implications for cannabis businesses in Wisconsin.
