Why it matters: Regulators in Alabama are set to begin awarding licenses for the state’s new medical cannabis industry, following the legalization of medical cannabis for individuals with qualifying conditions in 2021.
What they are saying: The Alabama Medical Cannabis Commission has said it has received 90 applications for cultivators, processors and dispensaries, along with other areas of the industry, and plans to issue licenses in each license category.
The big picture: The state’s medical cannabis industry is expected to support thousands of jobs and generate millions in tax revenue, with advocates pointing to the benefits of medical cannabis for those with chronic illnesses.
What to watch: The launch of Alabama’s medical cannabis industry will be closely watched by other US states considering legalizing medical cannabis.
My take: Alabama’s move towards legalizing medical cannabis underscores the growing acceptance of cannabis as a form of medicine, and highlights the potential benefits it can bring to individuals with chronic illnesses. As more US states legalize medical and/or recreational cannabis, the industry is set to grow rapidly, creating new opportunities for investors and entrepreneurs.
