Cannabis Status: Pending
Montana will offer a unique cannabis market opportunity, being one of the first states in its region to legalize adult-use cannabis. The state also boasts the fourth largest amount of land of any state, making cultivation opportunities nearly endless. In addition the state will be the first to set aside licenses for the eight sovereign Native American tribes located within the state, offering this historically disadvantaged group access to one of the largest growing industries in the country.
5/6/21 Update: Montana’s long road towards cannabis legalization began during the November 2020 election, when voters in the state passed initiative I-190 to legalize the possession and use of marijuana for adults over the age of 21, imposing a 20% tax on marijuana sales, requiring the Department of Revenue to develop rules to regulate marijuana businesses, and allowing for the resentencing or expungement of marijuana-related crimes.
Months later, members of the Montana legislature finally compromised on an implementing bill to establish the guidelines for implementing the state’s cannabis market. Now, House Bill 701 sits on Governor Gianforte’s desk, awaiting final approval for him to sign the bill into law.
Median Income: $54,970
Cannabis Uses: Cultivation, Retail, Manufacturing, Transportation, Testing
State Cannabis Overview: Montana recently passed HB701 to implement the state’s adult use cannabis market. Currently the bill is sitting on the governor’s desk awaiting final approval. After that, the Department of Revenue will need to finalize a set of regulatory structures for the application process.