The Missouri cannabis business will grow if Missouri voters approve adult-use cannabis. Those already working within the medical cannabis industry will have an advantage.
Missouri’s cannabis industry could soon open wide if voters approve a proposed amendment on the November ballot. Amendment 3 would legalize cannabis in the state for anyone 21 and older. Businesses that already have a medical cannabis license could apply to convert to an adult-use license. And 144 micro business licenses would be made available for smaller operators looking to enter the market.
If the measure passes, many existing cannabis businesses in the state will be able to rev up sales as the customer pool widens. But some in the industry are concerned that the amendment could create an uneven playing field for newcomers, especially as existing businesses get a head start.
Missouri cannabis dispensaries have brought in more than $494 million since the first stores opened in October 2020. Sales could grow to as much as $900 million annually by 2025 if the market opens up, said Chase Cookson, a professor, and researcher at Saint Louis University’s Cannabis Science and Operations Program.
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