Maryland gov puts nearly $1.2M of Green Thumb marijuana stock in blind trust

MJBizCon 2023 tickets are now on sale! Discover the business solutions to elevate your cannabis retail game. Buy your ticket today.

Maryland Gov. Wes Moore owns almost $1.2 million worth of stock in Green Thumb Industries (GTI), according to media reports about a new blind trust created for some of his assets.

Moore, a Democrat, was previously a GTI board member until he resigned in March 2022.

He was elected governor of Maryland in November 2022n, when Marylanders also voted to legalize adult-use cannabis.

The blind trust announced Monday is meant to prevent conflicts of interest.

The blind trust was revealed “ahead of the (Moore) administration’s plan to sign a bill this month that gives the state’s existing medical marijuana purveyors the first crack at licenses for the recreational industry,” The Washington Post reported.

Moore’s GTI shares represent about 46% of the assets placed in the blind trust, according to the Associated Press.

“The trust is required to be diversified, which means a significant portion of his Green Thumb holdings likely will need to be sold,” the AP reported.

Adult-use marijuana sales in Maryland are expected to launch July 1.