Marijuana Business Factbook 2019

163 © 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 The state made history of sorts on July 1, 2018, as the first to legalize recreational marijuana via the Legislature rather than a voter referendum. However, recreational business opportunities have been limited to little more than home-grow suppliers, as lawmakers did not approve any kind of commercial cannabis industry. In late February 2019, Vermont’s Senate passed legislation establishing a commercial recreational market. The Legislature adjourned before the House could pass a decision, but the bill will return in 2020 during the second half of the state’s two-year legislative session. If the legislation passes, it would enable a commercial recreational market to launch in early 2021. An official Marijuana Advisory Commission has been mandated to provide recommendations on a legal recreational marketplace. Early drafts favor vertically integrated businesses and allow for edibles and vape products, but they frown on consumption lounges. Vermont’s medical cannabis patient registry declined in 2019, falling to roughly 5,200 from 6,000 in 2018. Marijuana Business Opportunity Rank for 2020 C+ New licenses are unlikely in the near term, limiting opportunities for additional entrants. While the state legalized adult-use possession and cultivation, no system was put in place for recreational cannabis sales, and it is unlikely that medical dispensaries will become licensed to sell recreational cannabis or new adult-use marijuana licenses will be granted before mid-2020 at the earliest. The greatest opportunities in Vermont currently are in the promotion of home-grow equipment and ancillary products serving flower consumers.