One of the latest recreational use marijuana markets in the U.S. is poised to get rolling as Connecticut regulators said they’ll start accepting business license applications as soon as January.
According to Norwalk-based TV station News 12 Connecticut, the state’s Social Equity Council on Tuesday approved new industry rules and announced that a 90-day application window will commence on a yet-to-be-determined date in “late January.”
After the window closes, authorities will hold a lottery to determine license winners.
Still, many details remain unclear, including just how many permits will ultimately be awarded.
Key insights to inform decisions: MJBizFactbook
Say hello to marijuana business data, curated by the editors of MJBizDaily to help cannabis industry leaders make informed decisions.
- U.S. marijuana industry financials
- Licensing, funding and investment trends
- State-by-state guide to regulations, taxes and opportunities
- Insights for business and investment strategy
But what is clear is that many licenses will be reserved specifically for social equity operators who were adversely affected by the war on drugs.
That will include half of all retail permits and the initial round of cultivation licensees.