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Hedge fund s deal may run afoul of Florida law on owning medical marijuana licenses
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Florida medical marijuana deal has some questioning 5 percent rule
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Florida medical marijuana operators in catbird seat after state court decision
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Florida medical marijuana industry awaits âday of reckoningâ from Supreme Court
âThe direction of the industry is at stake,â said former Lieutenant Governor Jeff Kottkamp, one of the lawyers working the high-profile medical marijuana case.
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Updated 49 minutes ago
TALLAHASSEE â After the Florida Supreme Court hears arguments in a case, justices typically try to hand down a ruling within six months.
Although the Court heard final arguments in
Florida Department of Health v. Florigrown nearly eight months ago, it has yet to render a judgment.
Itâs difficult to overstate the stakes of the case. The Court could decide to upend the stateâs medical marijuana regulations, throwing a $1.2 billion industry with several national conglomerates into a state of uncertainty. Lawmakers and bureaucrats would have to rewrite the rules for the industry â potentially from scratch.
A stark contrast, in other words, to ongoing legislative moves against cannabis. Nearly five years after 71% of Floridians voted to approve medical marijuana, a sizable number of Florida lawmakers want to slash the THC content now legally available to more than half a million registered cannabis patients.
The most popular retail product, smokable flower, can contain more than 30% THC. A bloc of legislators in the Florida House, however, has decided that Floridians just don’t need that much on account of allegations that elevated amounts can cause psychosis and schizophrenia.
What’s safe, according to some lawmakers? Ten percent for flower. Oils and extracts, which can contain up to 100% THC? Sixty percent. Edibles would be limited to 15%.