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The need for social equity in cannabis programs
As adult-use cannabis legalization sweeps across the country and America confronts the toll of previous, draconian cannabis policies, one of the best attempts to right abject wrongs is social equity programs within state cannabis industries. Unfortunately though, social equity programs are easily exploited and “loopholed.” Licenses have even been discreetly purchased by multi-state operators (MSOs) in some cases, or other entities that should not qualify as social equity applicants. Regulators are getting wise. One such example is Missouri, where concerns have been raised about the authenticity of social equity applications, leading to the revocation of several licenses. This highlights the need for robust oversight and accountability to ensure that social equity programs fulfill their intended purpose of fostering diversity and economic empowerment within the cannabis industry.
Missouri’s social equity initiatives: a closer look
One example of a state regulatory agency having to revoke a considerable number of social equity licenses is Missouri, one of the newest states to legalize cannabis. Based on sales figures, the Missouri cannabis industry has already become a raging success, selling over $1.4 billion in the first year. Moreover, the Missouri Department of
