Jennifer and Don have become familiar with dozens of state cannabis regulations, such that we have an in-depth understanding of how regulatory agencies operate, communicate and expect. This can help cannabis applicants avoid common mistakes and ensure that they meet their goals as painlessly as possible.
In the past, merit based competitive application processes were the norm. But over the past year, the method by which states grant licenses has moved towards a “vetted lottery” system. This means applicants must submit several documents to qualify for a lottery, then a fair lottery process determines the winners of a fixed number of licenses. This system has some big shortcomings. For one, applicants must invest money, time and energy into a long process that is likely to end with no benefit. Applicants in most states have no better than a 1% chance of winning a license. Second, the winners of these lotteries often have no experience, which results in a weak pool of participants once the licenses are granted.
Nevertheless, cannabis license lotteries are worth entering, because anyone who wins has a real opportunity to become a millionaire, if the business is in a state with limited numbers of licenses. It would be truly exciting to be among the winners of cannabis licenses in newly legal states, so if you are excited about the opportunity and can invest into making it happen, we are excited to help you get your hat into the ring!
