By Paul Mulshine
It’s been more than two years since New Jersey voters approved by a 2-1 margin a referendum legalizing marijuana.
So how’s it going?
Slowly – unless of course you represent a massive, multi-state pot-selling operation, otherwise known as an MSO.
An article by Suzette Parmley in the Sunday Star-Ledger detailed how five “heavy hitter companies” have each reached the three-dispensary maximum allowable under state law. Three other firms have two apiece for a grand total of 21.
“Red tape and paralyzing legal battles are stunting the market’s growth, leaving aspiring entrepreneurs in cities such as Los Angeles, Pasadena and Fresno waiting months or even years for permission to open, often while leasing empty storefronts,” the Politico piece said.
Many such entrepreneurs just take their chances and open up without approval. A survey done by the United Cannabis Business Association found there are 2,835 unlicensed dispensaries in California compared to a mere 873 licensed ones.
Read the full article here.