Lottery still offers 24 adult-use dispensary licenses in Rhode Island | Where to order marijuana online

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Rhode Island is the smallest market for adult-use cannabis in the United States, but the number of dispensaries that are currently maximizing sales is quite large. This will soon change.

According to the Rhode Island Department of Business Regulation’s (DBR) monthly figures, the Ocean State’s cannabis industry is expected to grow by 10% by 2024. This year, licensed dispensaries are expected to sell nearly $118 million worth of cannabis for adult use and medical purposes.

Seven retailers are currently selling adult-use cannabis and medical cannabis. The average revenue per store in 2024 is expected to be $17million. According to the state’s Cannabis Control Commission, Rhode Island has more than 60 licensed growers.

According to data collected by the state’s regulatory agency, Massachusetts, which borders the bordering state of New Hampshire, has approximately 360 licensed dispensaries. These stores have the potential to generate $1.8 billion dollars in cannabis sales by 2024. This is an average revenue of $5 million per store.

Rhode Island regulators have finalized plans for a licensing procedure to add 24 adult use dispensaries to its marketplace. The three-member CCC Board of the state gave preliminary approval to a process for awarding these two dozen licenses at its regular meeting on Sept. 6.

The approval comes almost two years after Rhode Island began adult-use sales via existing medical dispensaries in December 2022, which were given an exclusive first-mover’s advantage. These retailers were required to pay the DBR a fee of $125,000 to transition from medical dispensaries to hybrid dispensaries for adult-use sales.

The three commissioners of the board specifically gave their approval for the CCC’s move to draft regulations for a hybrid randomized selection process, in which license applications are screened initially on merit to ensure that each applicant meets the baseline qualifications that demonstrate an ability and readiness to licensure. Qualified applicants are then placed in a pool to be randomly selected.

The Rhode Island Cannabis Act is a state law that was passed by Gov. Dan McKee Sign up for our Newsletter The 24 licenses for adult-use dispensaries must be distributed evenly among six geographical zones in the state by May 2022. Each zone will have 4 licenses. One of them is reserved for a worker’s cooperative application, and the other for a social justice application.

Rhode Island Cannabis Control Commission

The legislation to legalize cannabis for adult use did not include any provision requiring that a specific licensing system be used, such as a lottery or a merit-based system. The act instead delegated power to the CCC for it to establish “a process and methodology by which licences shall be granted.”

Mariana Ormonde presented a summary of the licensing litigation in other states that allow adult use, particularly those that have a merit-based selection process.

Ormonde outlined key considerations for a randomized process in a market with limited licenses, such as Rhode Island. She also emphasized the need to reduce the risk of litigation resulting from a scoring method.

She said, “We know that anyone can sue anyone over anything.” “We haven’t started licensing yet and we have already had lawsuits filed against us. I believe we will be facing future lawsuits. “I guess, from my position, I’m just trying to make sure whatever process we choose is defensible. It shouldn’t stymie or stop the awarding licenses to other applicants.”

If, for example, an unsuccessful applicant files suit over the social equity licence in Zone 1, state regulators hope that a possible court injunction won’t stop CCC from granting the two open licenses or the one workers’ co-op license in that zone.

Ormonde made his comments after Board Commissioner Robert Jacquard voiced concerns about using either a merit based system or lottery process. Jacquard said he believed the financial ability of an applicant could provide both advantages and disadvantages under the former system. He said that the latter system would only encourage applicants to do the minimum to get into the lottery.

“I think that [a lottery system] He said that the lottery system would increase the number of applicants instead of limiting it. “We are concerned about this happening,” he said. “I believe that the lottery system encourages applicants who are only looking to get lucky. By doing the minimum required, they will get lucky in a lottery and then sell the license to a corporation buyer. We’re also trying to avoid that.

Jacquard believes that the CCC will be sued no matter what the process is, but a merit-based approach would encourage the highest level of competition among applicants.

Ormonde gave a brief overview of the licensing process for cannabis use by other states and listed the most common grounds for challenging a cannabis license refusal.

• Unfair or illegal licensing processIncluded in this is the attack on the constitutionality of the licensing process or the enabling act.
• Grading that is arbitrary or capriciousThe most common challenges are inconsistent scoring, negligent and erroneous scores. This still happens in states who hire third-party consultants for the scoring of applications.
• Bias or corruptionAllegation often made if the state’s regulators are in a close relationship to a successful applicant

Ormonde’s presentation argues that a random selection method can eliminate the appearance of “favoritism” and other negative factors such as bias, corruption, outside influence and inside advantage.

Ormonde gave an overview of the medical cannabis licensing process in Rhode Island from October 2021 when the state’s Office of Cannabis Regulation accepted 40 of 45 applications for a lottery to win six Compassion Center licenses.

The Medical Marijuana Act of 2021 included a statutory license fee of $500,000. Rhode Island Cannabis Act The licensing fee is $30,000 per year, which reduces the barrier to entry for adult-use retailers. The law stipulates that the licensing fee must be deposited into the state’s Social Equity Fund to benefit the communities adversely affected by the criminalization cannabis.

Kim Ahern, CCC Board chair, said that when looking at Rhode Island’s She believes that past practices in the medical market are important and constructive. She believes that there will be greater interest in applying for a license for an adult-use dispensary than there was when it came to the state’s licenses for medical practitioners.

“People who signed up for [a compassion center] She said that they had signed up for a license worth $500,000 “That is not the case under the Cannabis Act. The licensing fee for cannabis is $30,000. [the barrier to entry] “I think that if you lower the price, it will increase the number of applications.”

Ahern said that board members had heard from individuals who expressed an interest in winning one 24 adult-use dispensary licences. They have asked the CCC for a faster licensing process so that more stores could open. The commission has not announced a date when the application period will start or when licenses will be granted.

Ahern stated that a merit-based system of licensing would only slow down the process as the commission worked toward drafting, finalizing, and promulgating their first set regulations for adult-use licenses while following the Administrative Procedures Act.

“To avoid… any further delays here, it is best to follow the recommended path from our team,” she said.