Marijuana Business Factbook 2019

127 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM SUMMARY What to watch in 2020 While supporters were disappointed that New Jersey failed to legalize recreational marijuana during the legislative session, a supermajority of state lawmakers in December passed a proposed ballot question to legalize recreational marijuana, putting the referendum on the 2020 ballot. The most recent polling in New Jersey showed broad support for legalization. In the meantime, the state’s MMJ program continues to expand. Patient counts are now over 67,000, up more than threefold from the beginning of 2018. In response to rising demand, the state requested applications for 24 new licenses for vertically integrated and stand-alone businesses, including cultivators and retailers. The review of those applications, which were accepted in August 2019, are currently tied up in court after a lawsuit appealed the state health department’s decision to deny licenses based on technical errors. Marijuana Business Opportunity Rank for 2020 B+ Opportunities in New Jersey’s medical marijuana market have been greatly increased due to the expanded medical marijuana program, although it remains to be seen whether the new licenses will be issued to local businesses or well-capitalized multistate players. Entrepreneurs will likely be presented with a multitude of new opportunities if residents approve a ballot initiative legalizing adult-use cannabis in the 2020 election.