A court case that could open up stand-alone licensing opportunities in Florida’s vertically integrated medical marijuana market isn’t going to be decided anytime soon.
In a rare move, the Florida Supreme Court – which held oral arguments on the issue in early May – scheduled a second set of oral arguments for Oct. 7.
Industry officials had expected a ruling this summer.
The case, filed by Tampa-based Florigrown, has been dragging on since the summer of 2018, when Leon County Circuit Judge Charles Dodson declared that licensing limits imposed by a 2017 law violated the MMJ constitutional amendment approved by Florida voters in 2016.
Under the current vertically integrated structure and licensing caps, a handful of operators control a Florida medical cannabis market that Marijuana Business Factbook projects will reach $775 million to $950 million in sales this year.
Florida-based Trulieve by itself has a market share exceeding 50% and operates 51 of Florida’s 258 dispensaries, according to the state’s latest weekly update.