What does a Marijuana Monopoly look like?
Three companies currently control the entirety of Virginia’s medical marijuana market: Jushi, Columbia Care and Green Thumb. Serious money is on the table once the state opens up the market to all adults; one Columbia Care estimate puts the potential market at up to $3 billion a year by 2026. The companies operate in a number of other states but are especially bullish about the commonwealth given its current licensing scheme.
“We view Virginia as one of the best licenses in cannabis,” Jim Cacioppo, the CEO of Jushi, told Forbes in November, citing his company’s monopoly over sales in Northern Virginia. “When you go adult-use, sales could triple overnight.”