Marijuana Business Factbook 2019

159 © 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 After Utah voters legalized medical cannabis via a ballot initiative in November 2018, the state’s MMJ program is set to launch by the end of the first quarter of 2020. Cultivation and dispensary licenses have been issued, and officials expect one or two dispensaries to open by the first week of March. By July, eight dispensaries are expected to be open throughout Utah. However, the number of physicians willing to recommend medical marijuana is expected to be limited, thereby limiting the program’s initial months. Marijuana Business Opportunity Rank for 2020 C Although Utah has not issued caps on the number of allowed processors and testing labs, cultivators have been capped at 10 and the state elected to issue only eight to begin with. Dispensaries―called medical cannabis pharmacies―have been limited to 14, and all those licenses have been awarded. Opportunities for ancillary companies might materialize in the future, though it will depend on whether patient demand increases as the programmatures.