Gov. Phil Murphy signed a package of bills into law February 22 that will create a legal adult-use cannabis market in New Jersey. Several other states—including Montana, Virginia, and New York—are either implementing or appear poised to enact similar legislation. Each of these jurisdictions is unique and complex, and so are their cannabis laws, but they share some common factors that businesses must consider when entering any new cannabis market.
Using New Jersey as an example, here are eight important considerations companies should make when expanding into new cannabis markets: