Florida to Enlarge sizzling medical marijuana market with four new licenses

Florida to expand sizzling medical marijuana market with four new licenses

Florida’s $200 million medical cannabis market has spurred the state to issue an extra four “medical marijuana treatment center” licenses.

The state health department anticipates to be calmed with as many as 400 applications for the lucrative licenses, according to the News Service of Florida.

Here’s what you need to know:

  • The expansion was triggered once the number of patients exceeded 100,000 earlier this spring. The landmark also allows each of the 13 existing licensees to every open five dispensary locations.
  • As of June 29, the Florida MMJ patient count was coming 130,000 and growing at rate of over 2,500 patients a week.

Marijuana Business Factbook 2018 projects that MMJ earnings in Florida will reach $175 million to $235 million this year.

Released at Tue, 17 Jul 2018 19:58:42 +0000

Posted in: Investing

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