Tuesday, January 28, 2020

Scalping a Medical Marijuana License



January 28, 2020


Missouri accepted applications for granting medical marijuana licenses. They had some sort of scoring system that, according to the losers, made no sense, and legal challenges are already being filed.  

For me, the kicker is that it’s legal for a winner to sell the license. One Los Angeles broker has already contacted someone who didn’t win and asked if he wanted to buy it. Another website offers a license in the Kansas City area, but the buyer must have at least $1 million.

Growers are supposed to meet guidelines. If a company didn’t win in the first round, what makes it qualified now? Is the state overseeing license transfers?

Furthermore, in my opinion, it would only be fair, as well as prudent, to award an unwanted license to the company who was next in line in the rating system. The state should have made sure that that would happen. It probably would have cut down on the number of applications if the first place, if brokers had known that they need not apply.

These licenses aren’t concert tickets. They shouldn’t be allowed to be scalped.


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