New Jersey has a recreational marijuana market.


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TRENTON, NJ (AP), – New Jersey’s marijuana market is open to business.

On Thursday, recreational sales of cannabis to adults aged 21 or older will begin. Some parts of the state will also open their first alternative treatment centers at 6 a.m.

It’s a major event. It’s a moment of American history when the 2.0 ban has been lifted,” stated Ben Kubler (chairman and CEO, Green Thumb Industries), which will open two new facilities in Bloomfield and Patterson on Thursday.

A week after Democratic Gov. Phil Murphy announced the approval of state regulators for the sale of leisure products at seven “alternative treatments centers” that offer medical marijuana. They operate 13 facilities in the country.

New Jersey is among the 18 states and District of Columbia with legal recreational cannabis markets. New Jersey is one of the 37 states that have legalized medical marijuana.

New Jersey is one of its closest neighbours to begin leisure sales.

State officials stated that New York is making progress in its leisure market but they are unlikely to see sales until the end.

Pennsylvania is a neighbor and has both medical and recreational marijuana. Philadelphia and Pittsburgh have both passed laws to either abolish marijuana incrimination, or to make it a low priority area for law enforcement.

In March, Delaware defeated legislation that would have allowed recreational marijuana.

The facilities informed regulators that they would not restrict access for medical marijuana patients in order to get regulatory approval.

President and chief operating officer at TerrAscend in Maplewood and Philadelphia, Ziad Ganem said that the centers will have a “narrower selection” for patients to begin with.

These centers must also be able to provide technical knowledge to new cannabis businesses. This includes candidates for social capital.

New Jersey tax revenue is expected rise but it isn’t clear how much. Murphy’s budget for fiscal year 2023 is still in the hands of the Democratic-led legislature. It estimates that revenue will be just $ 19million on a budget of almost $ 49 billion. The estimated revenue for 2019 was $ 60 millions, owing to the legalization and opposition of recreational marijuana.

A law regulating recreational marijuana requires that the 6.625% sales tax is applied. 70% proceeds will be transferred to areas most adversely affected by marijuana-related arresteds. Black residents were three times more likely than white residents to be charged with marijuana possession. Also, cities may charge as high as 2% tax.

Acting Attorney General Matt Platkin reminded the police in a memo to law enforcement officers throughout the state that marijuana unregulated remains an illegal substance.

According to state regulators, pharmacies are allowed to sell up to one ounce (or more) of cannabis. An ounce of dried cannabis, 5 grams of concentrate, or 1,000 mg of food products like rubber. It is not possible to consume cookies or brownies.

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