Both marijuana and hemp belong to the genus plant cannabis sativa and are slightly different “breeds” of the same “species.” While both marijuana and hemp plants contain more than 100 cannabinoids (distinct chemicals found in the cannabis plant), the discerning difference between the two is that marijuana typically has abundant levels of the psychoactive compound delta-9 THC (delta-9-tetrahydrocannabinol), whereas hemp contains high amounts of CBD (cannabidiol). Prior to 2019, both marijuana and hemp were lumped together as “marihuana/marijuana” and classified as a federally prohibited Schedule 1 drug under the Controlled Substances Act (“CSA”).
Interstate Cannabis Commerce on the Horizon Thanks to California
Despite the proliferation of in-state cannabis businesses and commerce, the sale and transportation of marijuana between and among states, even states with legal cannabis frameworks, remains federally prohibited due to the classification of marijuana as a Schedule 1 drug under the Controlled Substances Act. This has led to some of the oversupply and price decrease challenges businesses have been grappling with in Oregon, California, and Colorado as well as has, in some ways, supported the illicit market as over-taxed and over-regulated licensed businesses struggle to turn a profit.
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High Stakes: What to do Now That Your New Jersey Cannabis Business Application Has Been Approved by the CRC
If your conditional, conversion, microbusiness, or annual application has been approved by the Cannabis Regulatory Commission, congratulations! You have cleared the first major hurdle in obtaining a cannabis license in New Jersey. As advisors and legal counsel to a handful of successful applicants who have obtained conditional and annual approvals in each available class of licenses, Stark & Stark is keenly aware of the challenges facing prospective operators and industry entrants.
Metes & Bounds: What Are the Typical Zoning Conditions and Restrictions Enacted by Municipalities Allowing Cannabis Operations in Their Towns?
As towns and municipalities scrambled to meet the August 22nd deadline to regulate or prohibit marijuana establishments within their borders, a few noticeable trends emerged. As expected, many townships, including Freehold, Morristown, Franklin Lakes, Cherry Hill, Asbury Park, Haddonfield, and Ocean City, prohibited any and all marijuana businesses and operations outright. Others such as Newark, Egg Harbor Township, Hackensack, Fort Lee, Saddle Brook, Cinnaminson, Mount Holly, Collingswood, Bridgeton, Bloomfield, Woodbury, Jersey City, Lambertville, New Brunswick, Red Bank, Rockaway, Rahway, Elizabeth, and Hackettstown have opted to allow marijuana businesses.
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Growing Gold: Now that New Jersey Legalized Marijuana for Adult Use Here’s What You Need to Know About Winning A License
Home to nearly 9 million people, New Jersey is now the epicenter of the green rush hitting the East Coast. Investors, businesspeople, professionals, operators, pharmacists, doctors, and entrepreneurs have their sights set on what is predicted to be a billion-dollar adult use industry in the Garden State. Easily accessible to those living in New York City (8.4 million population) and those residing in Southeastern Pennsylvania (3+ million population), New Jersey stands ready to embrace the cannabis movement sweeping the nation. With limited licenses carrying unlimited potential for growth and profit, the emerging adult use marijuana market in New Jersey is slated to be one of, if not the most, competitive cannabis markets in the country.
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