Roughly 1,400 Minnesota cannabis businesses are waiting for final regulator approval to enter the market more than a month after the first non-tribal sale.
In the meantime, the few cannabis licenses that are available are selling for seven figures, or 100 times the permits’ face value, according to Fox affiliate KMSP.
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State law caps the number of certain permits available.
In a situation one Minnesota marijuana entrepreneur compared to ticket scalping, available cultivator and retailer permits are selling for more than $1 million, the television station reported.
Minnesota cannabis businesses for sale while approvals await
According to KMSP, “at least 80 licenses” have been advertised for sale in Minnesota, where non-tribal sales began in September.
That’s despite the state still having only a
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