NJ Just Approved New Marijuana Retail Licenses. What Do We Know So Far?
About month ago, New Jersey finally legalized the use recreational marijuana, and despite a few early hiccups....business. is. booming!
Since adult-use weed became legalized in New Jersey on April 21, the recreational marijuana market has racked up a whopping $24 million in sales!
According to CBS 3 Philly, collectively, the 13 marijuana dispensaries currently open for recreational use in New Jersey are averaging about $5 million per week with about 212,000 transactions. Remember how the lines looked on Day 1 of legalized weed? Lines were stretched outside before the sun even came up!
In lieu of this lucrative success, it's really no wonder that regulators just voted on Tuesday to grant more licenses to about a dozen additional recreational cannabis retailers in New Jersey.
The unanimous approvals came in after about 70 days, which was under the anticipated 90-day mark. Clearly there's a trend here that they want to continue and built on in New Jersey.
Where are these locations and when will they open?
This, we do not know yet, since the details are still unclear. They still have to go through tedious regulatory processes before they'll be allowed to start selling recreational marijuana - and who knows how long that will take?
What we do know is that the commission also granted license approval to 21 new cultivators and 13 manufacturers. This will help meet the demand for the incoming increase in recreational weed sales at the new locations.
We'll keep you in the loop of when and where these new locations will open!
Have you been to any of the open locations yet? Tell us how you liked them in the comments!
Here's Your Deep Dive Into NJ's Recreational Weed Dispensaries
The Most Popular Menu Items At Wawa