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Catch up on the current state of Rhode Island’s cannabis market, regulatory enforcement trends, highlights from the proposed adult-use rules, and the anticipated cannabis business licensing opportunities on the horizon.
Cannabis policy reform in Rhode Island has spanned nearly two decades, starting with the legalization of medical marijuana in 2006. Then, after years of determined advocacy and legislative debate, the Rhode Island Cannabis Act was passed in May of 2022, making Rhode Island the 19th state to legalize cannabis for adult use. This article looks at the current state of the market, regulatory enforcement trends, highlights from the proposed adult-use rules, and the anticipated cannabis business licensing opportunities on the horizon.
Rhode Island Cannabis Overview
The Rhode Island Cannabis Act led to the swift implementation of hybrid licensing for existing medical operators, ensuring quick access to adult-use cannabis while mitigating the proliferation of the unregulated market. The Act also created the Cannabis Control Commission (CCC). Rhode Island’s cannabis program is currently in a transitional period, with the Office of Cannabis Regulation (OCR) overseeing the hybrid program. This authority will transition to the CCC upon the finalization of new regulations.
Current Cannabis Market: Hybrid Licensing & Cultivation Moratorium
The hybrid licensing process began in October 2022, allowing existing medical licensees to enter the adult-use market quickly by submitting an application and getting approved by OCR. Currently, Rhode Island has seven licensed hybrid compassion centers. Five of the seven licensees have hybrid grow operations.
Additionally, 60 cannabis cultivators hold licenses. This disproportionate ratio led to a two-year moratorium on new cultivation licenses to balance market supply and demand. After the moratorium, the Cannabis Advisory Board and the Commission will undertake a review to determine whether or not other cultivation licensees are required to satisfy market dynamics and the supply and demand within the state.
Regulatory Enforcement Trends in 2024
When considering entering a new market and looking ahead at how new regulations will be enforced, it’s important to look back at how they have been enforced in the past.
Recent enforcement actions highlight the importance of compliance:
- A grower was fined $8,000 for failing to track trade samples given to employees.
- Another grower was fined $10,875 for not properly testing quality control samples taken home by employees.
These actions demonstrate Rhode Island’s commitment to strict tracking and testing standards.
Read the original article written by Vicente partner Meg Nash and senior director of regulatory compliance Casey Leaver for key insights on the proposed adult-use cannabis regulations in Rhode Island. The article covers business licensing opportunities, eligibility requirements, application details, and action items for potential Rhode Island cannabis license applicants.
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With final regulations expected soon, Rhode Island’s cannabis industry is poised for expansion. Now is the time for entrepreneurs and investors to stay informed and start preparing for upcoming licensing opportunities.
If you missed our recent Rhode Island Cannabis Update webinar, be sure to check it out for key insights and a live Q&A session covering the latest developments.
More updates from the Commission are on the way, but it’s never too early to get a head start. Vicente’s Licensing Team can help you lay the groundwork—whether it’s building your team, forming your business, securing trademarks, engaging in community outreach, or finding real estate.
