How to Open a Dispensary in Wyoming
Are you wondering how to open a dispensary in Wyoming? This article will update you on all the recent news and information about establishing a cannabis dispensary in Wyoming with insights and forecasts about what is ahead for the state in the future.
The possession and use of cannabis by adults and medical patients is still a crime in Wyoming, making it one of just a handful of states with such a policy. Although oil with low levels of THC and high levels of CBD may be sold legally, producers need licenses to process the required industrial hemp to distill the oil.
Several measures on the ballot in Wyoming that aimed to create a program for the use of marijuana have been unsuccessful. For now, activists will shift their efforts to ensuring that their initiatives meet the requirements to be included on the ballot in 2024 while simultaneously concentrating on reform via the state legislature.
In Wyoming, there has been a steady increase in the number of people calling for the legalization of cannabis. 54% of Wyoming residents, according to a statewide survey conducted in 2020, are in favor of legalizing and regulating cannabis for adults, a rise of over percentage points from 2014.
The Opportunity Size
According to the Tax Foundation’s projections, the potential revenue from marijuana taxes in Wyoming is $10,054,045. The Tax Foundation estimated the possible excise tax income with a market formed for at least three years by using average figures for excise taxes and the number of inhabitants in each state that use marijuana.
In 2015, legislation called HB 32 went into force, making it legal to utilize cannabidiol as a treatment for epileptic seizures. The legislation is quite restrictive and does not allow access inside the state.
Patients who meet the requirements and get their neurologist’s approval may be allowed to use an unspecified quantity of hemp extracts. These are preparations of cannabis plant material that contain less than 0.3% THC and more than 15% cannabidiol. To legally possess high-CBD extract products, patients need to have a “hemp extract identification card,” which is provided by the state’s Department of Health.
Wyoming Medical & Recreational Marijuana Legalization Efforts
Two different bills were submitted to the Wyoming legislature in 2022 in an effort to modify the state’s stance on the legalization of marijuana. Small quantities of cannabis possession by adults would no longer be a criminal offense under HB 106, while HB 143 would create a medicinal cannabis program for people in the state who suffer from significant health issues.
Unfortunately, these efforts met several obstacles. Due to factors like the continuing COVID-19 pandemic, weather conditions, and the late acceptance of their petitions by state authorities, the possibility of bringing the issue of legalization and decriminalization before voters in 2022 was made very difficult. Activists declared they would need more time to present the necessary number of signatures for the deadline in February 2022.
As Wyoming continues its attempts to legalize marijuana and as events develop that will affect when and how marijuana is legalized, we will inform you of any pertinent news regarding how to open a dispensary in Wyoming. By subscribing to our Wyoming Cannabis Mailing List (below), we will keep you informed of any relevant and not-so-easy-to-find information and news about legalization in Wyoming. This includes, but is not limited to, the following:
- What are the most recent developments regarding the legalization of cannabis in Wyoming?
- When will applications for new cannabis licenses be available?
- What special programs will be offered?
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