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Outside firms look to capitalize on Missouri's rising marijuana market

The Show-Me State has sold more than $830 million worth of cannabis since February.
Credit: UPI
Freshly cut cannabis sits in a processing center to be made into smokeable cannabis at the Beleaf Medical Growing Facility in Earth City, Missouri on Tuesday, February 7, 2023. Missouri leagalized recreational cannabis sales on February 3, 2023 and over the three day weekend, Missouri cannabis stores sold $12.7 million in sales, out of which $4.2 million was medical marijuana and $8.5 million to recreational sales. Photo by Bill Greenblatt/UPI

ST. LOUIS — The successful rollout of adult-use cannabis sales in Missouri has put the state on the map for multistate operators, cannabis businesses that operate in multiple states.

The Show-Me State has sold more than $830 million worth of cannabis since February, outperforming other recently launched adult-use markets and some legacy markets out West. As a result, MSOs are now setting their sights on Missouri.

Due to cannabis’s federal illegality, cannabis products sold in Missouri must be made — and use components made — from within the state's boundaries, posing an obstacle for MSOs whose headquarters and facilities are in other states.

RELATED: Read: Full list of cannabis products recalled in Missouri

That leaves MSOs with two options: the “asset heavy” route, which requires acquiring cultivation, manufacturing and/or retail licenses and then building out facilities in which they can carry out operations, or the “asset light” route, which involves partnering with an established operator within the state to produce their products.

Click here to read the full story from the St. Louis Business Journal.

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