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How this even happens is beyond me.

Some call it capitalism others may like to debate that.

Cannabis gets grubbier by the day and why the state regulator doesn’t shut this down in one fell swoop amazes me…I think they call scaping dynamic pricing these days.

If F.Scott Fitgerald were alive today he might well have a morality tale to tell about this industry.

Good to see Jeff Brinkman getting coverage fro the story

Fox News

Jeff Brinkman from Superior Cannabis Company likens the situation to ticket scalping, noting the face value of a cannabis license ranges from $5,000 to $10,000. However, resold licenses on platforms like cannamls.com can reach $1.5 million for cultivation licenses and $1 million for licenses covering five retail stores.

State law allows license transfers with approval from the Office of Cannabis Management, but the Wendy’s location has not yet received a license from the state. The city of Roseville has approved it, but a change in majority ownership would push the location back in line for the city’s three retail licenses.

The backstory:

Carol Moss, a cannabis attorney, points out that while legal, these sales go against the spirit of the law intended to foster a craft cannabis industry for small businesses in Minnesota. Rep. Nolan West highlights that the secondary market emerged after licensing shifted from merit-based to a lottery system.

Why you should care:

The ability to sell licenses is crucial for business owners, as it supports the concept of generational wealth, especially for social equity applicants. However, the rise of secondary sales raises questions about the integrity and intent of the state’s cannabis industry.

What we don’t know:

The specifics of many license sales remain under non-disclosure agreements. The future impact of these sales on Minnesota’s cannabis industry is uncertain.

https://www.fox9.com/news/minnesota-cannabis-licenses-resold-like-concert-tickets?utm_source=policy-decoded.beehiiv.com&utm_medium=dailybrief&utm_campaign=policy-decoded