Social equity in cannabis. News and data on efforts to improve diversity and social justice in marijuana business.
More than 37,000 applications have been entered into lotteries for an initial round of 56 adult-use marijuana licenses in Connecticut, including 23,487 applications for 28 social equity licenses.
The state of New York has chosen “premier minority-led investment team” Social Equity Impact Ventures to manage its $200 million marijuana industry social equity investment fund.
New York is set to inject $200 million into the local marijuana real estate market, leasing up to 150 retail properties that will be given to social equity businesses to give them a leg up in the state’s new recreational market.
An Illinois judge cleared the way for 88 craft marijuana growers to prepare to start planting as he reversed a restraining order he issued on behalf of a dozen cultivation applicants who lost cannabis license bids.
The passage of federal cannabis banking reform is considered possible this year, provided it’s combined with an existing marijuana expungement bill, according to published reports.
New York’s plan to create a diverse, multibillion-dollar adult-use marijuana industry is in danger of slipping from its high goals, according to critics, making it potentially the latest social equity program to experience a less-than-smooth start.
Seven additional cannabis grow licenses were approved in Vermont as the state increases suppliers for a recreational marijuana market that’s expected to launch in October.
