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US (MD): Governor plans to sign cannabis bill, but won't say if he's still investing in the industry

Among the hundreds of bills heading to Gov. Wes Moore’s desk is one that could pose a potential conflict of interest: legislation outlining rules for recreational cannabis sales starting July 1.

Moore is a former board member for Green Thumb Industries, a multistate cannabis company that operates four medical cannabis dispensaries in Maryland. And as recently as last spring, the Democrat held 170,730 subordinate voting shares in the company worth $1 million, according to U.S. Securities and Exchange Commission filings. Moore left the company’s board of directors in March 2022.
The Moore administration said the governor plans to sign the licensing and taxation bill but did not answer if Moore still owns Green Thumb stock or if he has set up a blind trust, as he promised before the election. “Governor Moore is always focused on the best interests of Marylanders, and he plans to sign this legislation with them in mind. The governor is committed to creating an adult-use cannabis market that bolsters our economy and directly benefits those that were disproportionately affected by the war on drugs,” according to a statement from Moore spokesperson Carter Elliott IV.

The recreational cannabis bill sets tax rates and outlines how cannabis revenue will be spent. It also requires medical dispensaries to pay a fee and convert their licenses to recreational dispensaries if they want to continue operating.


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