Missouri Cannabis Market Attracts National Attention for Economic Study
By Rebecca Rivas, Missouri Independent
Missouri is garnering national acclaim as a leading model in the cannabis industry, with three research firms vying for a contract to analyze the state’s market dynamics. Mackenzie Slade, CEO of Cannabis Public Policy Consulting, highlights Missouri’s rapid growth, contrasting it with states like Oregon, where oversupply has stifled investment opportunities.
In 2024, Missouri recorded $1.46 billion in marijuana sales, surpassing long-established markets such as Arizona and Colorado. The study, requested by the state’s Department of Health and Senior Services, aims to assess the necessity for additional cannabis licenses as the market continues to expand. This includes 144 planned microbusiness licenses intended to empower disadvantaged entrepreneurs.
Experts like Beau Whitney of Whitney Economics note that Missouri’s strategic approach—limiting the number of operational licenses—has been crucial for maintaining a thriving market. In comparison, Slade’s firm aims to leverage trace data to derive actionable insights for regulatory improvement.
While the market’s performance has been commendable, critics argue that the limited licensing has inadvertently created monopolies, sidelining those disproportionately affected by the war on drugs. The microbusiness initiative was introduced to mitigate these inequalities, although its implementation poses challenges for profitability.
As the state prepares for the study’s outcome, the evaluation will also address broader economic impacts, particularly in underserved areas. The procurement process remains fluid, with updates expected as developments arise.
This story first appeared in the Missouri Independent.
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