Kentucky to Initiate Medical Cannabis License Lottery

1.1 min readPublished On: April 22nd, 2024By

LOS ANGELES- In a significant step towards the establishment of its medical cannabis program, Kentucky Governor Andy Beshear announced plans for a lottery to allocate the state’s initial medical cannabis business licenses. Scheduled for October, this method aims to ensure a fair distribution process, set to precede the program’s expected launch on January 1, 2025.

Governor Beshear emphasized that the lottery system would mitigate litigation risks and lobbying by financially robust entities seeking competitive advantages. He asserted, “It reduces or eliminates litigation, and it creates a more fair process, not one where people bid against each other and only then the big companies can be a part of it. But one that provides at least a chance for everyone who can meet the criteria.”

The introduction of the lottery aligns with Kentucky’s objectives to have an operational medical cannabis framework by the designated 2025 start date. Furthermore, recent legislative developments have permitted local jurisdictions to decide whether to participate in the state’s medical cannabis program. Although proposals to expand qualifying conditions for the program were considered, they did not pass into law.

Kentucky’s medical cannabis legislation, enacted in 2023, allows registered patients access to cannabis edibles and concentrates. However, it explicitly excludes smokable products from the program. This regulatory approach aims to control the use and distribution of cannabis while providing therapeutic options for those with qualifying medical conditions.

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The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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