Missouri Cannabis Licensing Under Review After $1.4B Year
Missouri’s cannabis market is booming, topping $1.46 billion in adult-use sales in 2024. Now, the state is launching a comprehensive review of Missouri cannabis licensing to determine if it’s time to open the doors to more businesses. Three research firms are competing to lead the study, which will explore whether expanding licenses could boost growth—or throw off the balance that’s made the program a national standout.
Key Takeaways
- Missouri’s adult-use cannabis market hit almost $1.5B in sales in 2024.
- Three research firms are competing to study the impact of expanding cannabis licensing.
- Missouri currently issues the minimum number of licenses allowed under its constitution.
- The state plans to award 144 microbusiness licenses to disadvantaged entrepreneurs.
- Results from the study will guide future decisions on expanding cultivation, manufacturing, and dispensary licenses.
The Missouri Market: Big Numbers, Tight Licensing
Since adult-use cannabis was legalized in Missouri in 2022, the state has issued nearly 400 licenses for cultivation, manufacturing, and retail dispensaries. Despite those numbers, the current system follows a tightly controlled structure—issuing only the minimum number of licenses required under Amendment 3, the ballot initiative that legalized cannabis.
And yet, the market is thriving. By the end of 2024, Missouri’s adult-use sales topped $1.46 billion, outperforming several states with longer-established programs. Many experts credit the state’s carefully limited licensing model for helping avoid oversaturation while still meeting demand.
But with public interest growing—and sales proving sustainable—Missouri regulators are asking whether the market could handle more players.
Who’s Competing to Run the Study?
Three firms are currently under consideration to conduct the official market study:
| Research Firm | Location | Specialty |
|---|---|---|
| Cannabis Public Policy Consulting | New York | Cannabis-focused policy and economics |
| Capital Consulting Services | St. Louis, MO | Local policy analysis and community outreach |
| Whitney Economics | Oregon | Cannabis economics and regulatory modeling |
The selected firm will assess the state’s supply and demand, evaluate the economic impacts of potential expansion, and determine whether Missouri’s current license caps are helping—or holding the market back.
Focus on Equity: Microbusiness Licenses
Even as it evaluates potential expansion, the state has already built social equity into the Missouri cannabis licensing system. The state is preparing to award 144 microbusiness licenses specifically for disadvantaged or underrepresented applicants.
These licenses aim to lower barriers for entry into the cannabis space, allowing smaller-scale entrepreneurs to cultivate, manufacture, or sell cannabis without competing directly against larger corporate operations.
How the results of this new study impact the microbusiness rollout remains to be seen—but for now, the state is signaling that equity and controlled growth can go hand in hand.
Conclusion
Missouri’s cannabis regulators aren’t rushing into expansion—but they’re not ignoring the momentum either. With record-breaking sales and a structured system in place, the upcoming market study will play a key role in deciding whether Missouri stays tight on licenses—or opens up to let more entrepreneurs into its billion-dollar cannabis space.
As the competition to lead the study heats up, industry watchers and would-be licensees alike are keeping a close eye on what comes next for Missouri cannabis licensing.
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