Acquiring a medical marijuana license, setting up facilities and securing dispensary locations costs tens of millions of dollars. Meanwhile, hemp retailers can set up shop faster, easier and cheaper.
For years, medical marijuana companies in Florida have fiercely campaigned for stricter regulation of euphoria-inducing hemp products, which can be purchased at gas stations, retail stores and — now — liquor stores.
The state has one of the most highly regulated medical marijuana programs in the nation. Companies have to undergo an intensely competitive, drawn-out process for a limited number of licenses. They have to grow, process and retail all of their products without outsourcing any of the steps to subcontractors. The state sets caps on the amount of THC — the intoxicating component in cannabis — in products that are sold to patients, who must get doctors' permission and be part of a statewide database to participate in the program. In addition, companies must pay $1.3 million to renew their licenses every two years.
In contrast, retailers who sell hemp products that can get consumers as high — or higher — operate in a market that's largely unregulated. Those companies pay $650 per store annually to be allowed to sell hemp-based or hemp-derived products, such as gummies, whole flower, vapes and more. People who shop at the stores don't need doctors' permission to purchase products, and there's no limit on the amount of THC that products can contain.
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