New Medical Marijuana Policy Promising for Cannabis Businesses
Central and Southern U.S. States Begin Expanding on Marijuana Policy Change
Prohibitive policy has barred a multitude of products, licensed operators, and even consumers from accessing the cannabis market. In Arkansas, Florida, Maryland, Minnesota, and Iowa, various legal parameters have hindered each respective cannabis market from flourishing. However, that may change this year as a variety of states are looking to finalize policy that could potentially legalize forms of marijuana usage in their borders.
For example, regulators in Arkansas will begin streamlining more licensed companies to begin operations on the market. Meanwhile, the Florida Supreme Court is expected to decide on policy that would allow for medical marijuana edibles to be sold and for stand-alone licenses to be awarded. Iowa lawmakers are pursuing reducing THC limits and opening dispensaries to medical patients. In Maryland, regulators would finally provide over 200 licensed applicants and their awards for operation. Minnesota may even legalize medicinal smokable flower.
Opportunities for Cannabis Business and Infrastructure
It goes without question that the aforementioned finalization and creation of marijuana policy could potentially bolster market value with significant effect. The industry could experience millions of dollars of growth as cannabis usage is expanded throughout these U.S. states. Outside of the numbers, these legal changes could also offer ancillary providers an opportunity to engage in business throughout the central and southern corridors; especially where licensed operators are expected to finally act on state permissions.
One question that remains is what kind of infrastructure is in place to facilitate this kind of market boom? We should be reminded of Chicago and the hurdles that many license applicants faced in the wake of legalization. How can cannabis technology aid in realizing the impact of policy change for consumer-facing and business-to-business companies?
Envisioning the Value of Digital Commerce
For any brand in a burgeoning cannabis state economy, the value of a cannabis business network should not be overlooked. An online platform for operators and ancillary providers would undoubtedly inspire competitive growth and collaboration while subsequently diversifying cannabis market economies. Software could offer businesses an immediate pathway towards centralizing their operations, streamlining efficiency and promoting expansion. While policy change in these central and southern states will initiate growth, we must consider the importance of a digital business networks in order to catalyze it further.
If you’re interested in learning more about the benefits of cannabis business network software, check out our platform Outspoke.io and subscribe to our newsletter today!