{"id":2397,"date":"2021-11-15T11:35:25","date_gmt":"2021-11-15T11:35:25","guid":{"rendered":"http:\/\/1166093594"},"modified":"2021-11-15T11:35:25","modified_gmt":"2021-11-15T11:35:25","slug":"connecticut-set-to-launch-recreational-marijuana-market-before-new-york-marijuana-business-daily","status":"publish","type":"post","link":"https:\/\/thcinct.com\/?p=2397","title":{"rendered":"Connecticut set to launch recreational marijuana market before New York – Marijuana Business Daily"},"content":{"rendered":"
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Connecticut\u2019s projected $750 million recreational marijuana market is unlikely to match the size of neighboring New York\u2019s, but it\u2019s poised to launch first and might turn out to have as strong \u2013 if not stronger \u2013 of a social equity program, industry experts agreed.<\/p>\n

State regulators said recently they are aiming for a relatively full launch by year-end 2022, while New York\u2019s projected $2 billion-plus market likely is slipping into the spring of 2023<\/a>.<\/p>\n

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The MJBizFactbook projects<\/a> that Connecticut\u2019s adult-use sales could total as much as $250 million in the first full year and up to $750 million by the fourth year.<\/p>\n

The size of the market and its proximity to New York have prompted a steady stream of acquisition activity over the past three years.<\/p>\n

Chicago-based marijuana multistate operator Verano Holdings is the latest company poised to enter Connecticut, announcing last week it agreed to acquire<\/a> an existing medical cannabis cultivation and processing facility in a deal worth $131.8 million.<\/p>\n

The MSO also agreed to buy a dispensary and closed on the purchase of a second retail outlet.<\/p>\n

New social equity benchmark?<\/strong><\/p>\n

New York has been touted as a potential social equity gold standard<\/a>, but Connecticut\u2019s program appears equally robust.<\/p>\n

\u201cDefinitely a priority is put on to consider the harm done by the war on drugs and to think about the disproportionately impacted communities and how to reinvest in them,\u201d said Kaitlyn Krasselt, communications director for the Connecticut Department of Consumer Protection.<\/p>\n

New York and Connecticut were part of a regional effort to coordinate a general adult-use framework, but each program has its own flavor.<\/p>\n

Connecticut\u2019s program features these aspects:<\/p>\n