Rhode Island Rakes In $1.6 Million in First Week of Recreational Pot Sales

Rhode Island Rakes In $1.6 Million in First Week of Recreational Pot Sales

A new adult cannabis market in Rhode Island opened for business earlier this month, and business has been doing well so far.

Local News Station WPRI, citing the state’s Bureau of Business Regulation, reported this week: ”

“Less than half of these sales were for recreational marijuana, at approximately $786,000. The remaining approximately $845,400 was for medical marijuana patients.” the station reported“For comparison, in the last week of October (the most recent week available before recreational sales), pharmacies sold a total of $1 million worth of medical marijuana.”

Rhode Island legalized recreational cannabis use in May when Gov. Dan McKee signed a bill passed by lawmakers in the state legislature.

The law legalized the cultivation and possession of marijuana by adults over the age of 21 while establishing a regulatory framework for the sale of cannabis.

“This bill does a good job of our priorities of making sure cannabis legalization is fair, controlled and safe,” said McKee, a Democrat. said in a statement at the time“Furthermore, we will create a process to automatically expunge past cannabis convictions. We are thrilled to recognize the importance. The end result is a win for our state, both socially and economically.”

Additionally, the law “authorizes courts to automatically expunge past convictions until July 1, 2024, and those who want expungement sooner can request it,” the governor’s office said. explained in a press release at the time.

end of last month Mackie and the state’s Bureau of Business Regulation’s Cannabis Control Division announced that “five licensed medical marijuana compassion centers have received state approval to begin selling adult-use marijuana after December 1.” did.

The five “compassion centers” that have been approved to start selling to adults are: Aura of Rhode Island (Central Falls). Thomas C. Slater Center (Providence); Mother Earth Wellness (Pawtucket); Greenleaf Compassionate Care Center (Portsmouth); and RISE Warwick.

“This milestone is the result of a carefully executed process to ensure the state’s entry into this emerging market was done in a safe, controlled and equitable manner.” McKee said last month“It’s also a win for our statewide economy and our strong, locally rooted cannabis supply chain, which comprises nearly 70 licensed growers, processors and manufacturers, in addition to our licensed caring centers. Finally, I thank the General Assembly for their leadership in passing this Practical Implementation Framework in the Rhode Island Cannabis Act and look forward to continuing to work together on this issue.”

Matt Santa Claus, interim deputy director of the Rhode Island Department of Business Regulation, said last month that the state was “satisfied with the quality and comprehensiveness of the applications received from the state’s Compassion Center and is proud to begin. ‘ said. Adult sales took place in Rhode Island just six months after the Cannabis Act was signed into law, making it the earliest implementation period in the Northeast. “

“We look forward to working with the state’s cannabis business community to ensure that this important sector of the economy can scale in compliance with the rules and regulations put forward by state regulators,” Santa Claus said. said.

The December 1 start of recreational sales is just one change to Rhode Island’s existing marijuana policy this month.

Reported by WPRI On the same day, “the state also stopped charging medical patients for obtaining or renewing medical marijuana cards,” it added, adding, “There is an anticipated loss of income from pending plans to clear marijuana possession charges.” those crimes.”

With two decades of dedicated experience, Nuggs is a seasoned cannabis writer and grower. His journey has been a harmonious blend of nurturing cannabis from seed to harvest and crafting insightful content. A true expert, they've honed strain-specific knowledge, cultivation techniques, and industry insights. His passion shines through enlightening articles and thriving gardens, making them a respected figure in both the growing and writing facets of the cannabis world.

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