The 2024 legislative session saw the Minnesota Legislature make a number of sweeping changes and clarifications to the State’s one-year-old cannabis statute. And in recent days, the Office of Cannabis Management (OCM) added some additional details and clarity every aspiring cannabis entrepreneur should note.

In May, the Legislature defined the process applicants will need to go through to obtain a cannabis business license. It also set limits on the number of licenses OCM may award between now and July 1, 2026 for certain categories of operations. Specifically, OCM may issue licenses to up to 25 cultivators, 12 manufacturers, 75 retailers, and 50 mezzobusiness operators who qualify as “social equity applicants.” Once social-equity licenses are awarded, OCM may grant up to that same number of additional licenses to the population at-large (including social-equity applicants who were not awarded licenses in the social-equity round).

In recent days, OCM released additional information, adding a sense of urgency to the application process. Specifically, OCM will open an online portal where prospective applicants may submit information to verify whether they qualify for social-equity status. That online process will be open from June 24 through July 10 at 11:59 p.m. Those who receive verification of their social-equity status will be eligible to apply for one of the social-equity licenses described above. An application portal for qualified social-equity applicants will then be open from July 24 through August 12 at 11:59 p.m.

The last twelve months have been a period of “hurry up and wait” for many Minnesotans interested in starting a cannabis enterprise. If you are interested in being part Minnesota’s legal cannabis market, the wait is now over. Let one of our experienced cannabis lawyers help you navigate the process.