By law, the Florida marijuana industry – the largest medical-only cannabis market in the country with $2 billion in projected annual sales – is supposed to have nearly twice as many businesses involved as are operating today.
But with state voters set to decide on adult-use marijuana legalization in November, potentially inflating the value of coveted vertically integrated business licenses, the mandated expansion of Florida’s market remains on indefinite hold.
The state accepted applications for 22 available permits in April 2023.
More than a year later, there’s no clear answer from state officials as to when those new licenses will be issued.
“There is literally nothing coming back to applicants. Nothing,” Dustin Robinson, a Fort Lauderdale-based attorney who filed one of the 73 pending applications for a permit, told MJBizDaily reporter Chris Roberts.
“In my opinion, they are literally sitting on their hands.
“It is so disrespectful to applicants who have spent so much time and money.”
Read Chris’ story to learn more about the licensing holdup in Florida’s important marijuana market.
