What MedMen’s Exit From Arizona’s Marijuana Market Means For Legalization In 2020

With MedMen announcing its plans to exit Arizona’s medical marijuana market last month, some observers are left wondering where that leaves a campaign to legalize cannabis for adult use in the state—an effort that has received substantial financial contributions from the company. The multi-state marijuana dispensary chain said that it will be selling its three vertically integrated licenses in Arizona as part of a restructuring amid an economic downturn in the cannabis industry. While the company expects to generate tens of millions of dollars from the sales and plans to continue investments in various other state markets, it departure from Arizona comes at a pivotal time. MedMen has donated $200,000 to Smart & Safe Arizona, the campaign working to put a recreational legalization measure on the state’s 2020 ballot. That’s a sizable chunk of the $1.6 million in contributions that the campaign has reported to the secretary of state’s office so far, with the company trailing only Harvest Enterprises Inc. and CuraLeaf in top contributions. But in an email to Marijuana Moment, campaign manager Stacy Pearson said organizers don’t expect the development to have any effect on the legalization effort. “MedMen’s sale of its Arizona licenses won’t impact the campaign,”…

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Source : MJ moment
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