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Kentucky seeing slow demand for medical marijuana business licensing

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Kentucky seeing slow demand for medical marijuana business licensing
Medical marijuana licensing for businesses in Kentucky became available at the beginning of July, and the demand for licenses has been slow to start.Businesses were able to start applying for licenses starting on July 1.Gov. Andy Beshear said on Thursday that numerous businesses that have applied for the license need to fix problems with their applications."People are going to get a chance to cure them because they appear to be using guides from other states, that aren't applicable here. So we want everybody to have time. We want a bunch of applications to come in," Beshear said.He added that he believes businesses are waiting until closer to the Aug. 31 deadline to apply."But our encouragement today is, don't wait. Reach out, ask questions, go ahead and submit. As you can guess, the most licenses that have been, submitted have been for dispensaries, which is what we expect and anticipate," He said. "But right now, we believe that schedule that we put out that we will be able to meet now still some challenges on day one."Beshear said the biggest challenge expected on Jan. 1, 2025, when medical marijuana becomes legal in the state, is supply. Despite that concern, Beshear says he expects to have medical personnel certified before that date.He also said the state is being selective with who receives a license so that the market is not flooded."I would also just remind people that, this is medical marijuana, and the conditions are limited. And so the market is much smaller in terms of numbers, than what you see in recreational markets," Beshear said. "So we're trying to be really intentional in making sure that we only put out the right number of licenses that we don't see what happened in hemp when the market was flooded with licenses and a lot of people lost a lot of money."Patients with qualifying illnesses will be able to apply for a medical marijuana card in Kentucky starting Jan. 1, 2025. Read more about those qualifying illnesses here.

Medical marijuana licensing for businesses in Kentucky became available at the beginning of July, and the demand for licenses has been slow to start.

Businesses were able to start applying for licenses starting on July 1.

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Gov. Andy Beshear said on Thursday that numerous businesses that have applied for the license need to fix problems with their applications.

"People are going to get a chance to cure them because they appear to be using guides from other states, that aren't applicable here. So we want everybody to have time. We want a bunch of applications to come in," Beshear said.

He added that he believes businesses are waiting until closer to the Aug. 31 deadline to apply.

"But our encouragement today is, don't wait. Reach out, ask questions, go ahead and submit. As you can guess, the most licenses that have been, submitted have been for dispensaries, which is what we expect and anticipate," He said. "But right now, we believe that schedule that we put out that we will be able to meet now still some challenges on day one."

Beshear said the biggest challenge expected on Jan. 1, 2025, when medical marijuana becomes legal in the state, is supply. Despite that concern, Beshear says he expects to have medical personnel certified before that date.

He also said the state is being selective with who receives a license so that the market is not flooded.

"I would also just remind people that, this is medical marijuana, and the conditions are limited. And so the market is much smaller in terms of numbers, than what you see in recreational markets," Beshear said. "So we're trying to be really intentional in making sure that we only put out the right number of licenses that we don't see what happened in hemp when the market was flooded with licenses and a lot of people lost a lot of money."

Patients with qualifying illnesses will be able to apply for a medical marijuana card in Kentucky starting Jan. 1, 2025. Read more about those qualifying illnesses here.