Blue Arrow Missouri
Missouri Medical Marijuana Expecting 4th Quarter Sales
In 2014, Missouri passed House Bill 2238 that allowed patients to obtain, possess, and use hemp extracts. Patients are allowed to purchase hemp extracts from two state-regulated “Cannabidiol oil care centers.” The law also allows the Department of Agriculture to license and regulate growers of cannabis plants to produce the oil to make sure they conform to the CBD and THC stipulations.
In 2018, Missouri voted in favor of the Missouri Right to Access Medical Marijuana Initiative, which legalize medical marijuana for the state and began the licensing of medical marijuana businesses. In May 2019, the Missouri Department of Health and Senior Services announced the rules for the medical marijuana program were filed with the Missouri Secretary of State as emergency rules and proposed rules. Applications for medical marijuana businesses were accepted from August 3 – 17, 2019.
Missouri regulators approved the first set of medical marijuana businesses to start growing medical marijuana in the state, which extends a sales launch in the fourth quarter of 2020. Marijuana Business Daily has projected that the market will generate $300 million in annual sales within a few years of its launch.