Has Rhode Island’s recreational marijuana industry been hurt by the state’s delay in creating a regulatory commission?

Gov. Daniel J. McKee on May 17 finally named his three appointments to the R.I. Cannabis Control Commission, a year after signing legislation into law that included creation of the panel.

The commission, whose members must still be approved by the state Senate, will be tasked with regulatory oversight and licensing of adult use and medical cannabis. That will include approval of 24 new retail licenses allowable under the Rhode Island Cannabis Act.

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Recreational marijuana sales have been legal since Dec. 1. There are seven entities in Rhode Island with medical marijuana licenses also selling cannabis on the retail market.

Rhode Island Current earlier this month reported that the $3.4 million in state and local tax revenue collected from retail cannabis sales in the first four months since recreational cannabis launched is 25% behind state budget projections for fiscal 2023.

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Has Rhode Island’s recreational marijuana industry been hurt by the state’s delay in creating a regulatory commission?

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