The Maryland Cannabis Administration will delay a lottery that could award up to 179 new cannabis business licenses to ensure that applicants meet the minimum requirements to enter the nascent recreational industry.
The state agency originally pledged to start giving out cannabis business licenses through a lottery system on or before Jan. 1. However, the MCA is now delaying the lottery so it can further inspect the 1,708 submissions it received by the Dec. 12 application deadline, according to an email the state regulatory body sent out to applicants on Friday. Each application must be reviewed to see if it meets the minimum requirements for licensure on a pass/fail basis before the lottery can take place.
In a statement to the Baltimore Business Journal, the state agency did not specify when the lottery will start but said it expects to complete the review of all cannabis business applications in the next few weeks.
“Due to the high volume of applications, and in keeping with our goal to ensure only eligible social equity applicants are entered into the lottery, this review will not be complete by January 1, 2024,” the agency said.
Click here to read the rest of the article written by Matt Hooke over at Washington Business Journal
