Raimondo Out of Budget Ideas? Gov. Proposing Legalization of Marijuana in RI

GoLocalProv News Team

Raimondo Out of Budget Ideas? Gov. Proposing Legalization of Marijuana in RI

Governor Gina Raimondo's big initiative for her 2nd term is legalization
You can’t call it a complete flip-flop, but previously Governor Gina Raimondo both in the 2018 gubernatorial debates, and prior, said that she is not opposed to legalizing marijuana, but wanted to see if Rhode Island could learn from Massachusetts' implementation.

Now, Raimondo is rolling out a plan to legalize marijuana as her first major initiative for her second term. 

Massachusetts opened its first stores in mid-November and has only just begun -- to date, fewer than ten have opened or been approved to operate.

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Six retail locations are open and three more have been approved. None of the approved locations are in a major city. A Fall River location is scheduled to open in later in January.

It is unclear what has been learned in the two months.

To date, marijuana tax revenue to the Commonwealth has seen massive growth. Forbes reports, “Bay State’s legal pot business has been raking it in thus far. In just six weeks, customers spent nearly $15 million at the two locations and three others that opened their doors in 2018, according to Massachusetts’ Cannabis Control Commission (CCC), the independent regulatory body that oversees the state’s recreational and medical marijuana industries. With dozens of applications for additional stores in works, CCC chairman Steven Hoffman recently said he expects to see between four to eight new marijuana retailers come online per month moving forward.”

MA revenue to date

Raimondo’s Motivation

Part of Raimondo’s motivation may be a scramble to make up for revenue for what looks to be a failed sports betting initiative that she spearheaded.

The bungled and delayed launch downgraded state revenue estimates from $23.5 in the fiscal year to just $11.5 million and even reaching that number may be stretch.

Repeatedly in interviews on GoLocal LIVE, Speaker of the House Nick Mattiello has repeatedly expressed reluctance to legalize marijuana for consumer use without significant study. In order to realize any significant revenue boost in the upcoming fiscal year, there would be little data from Massachusetts to evaluate.


Marijuana Legal in MA, Sports Betting Going Live in RI — What You Need to Know - Nov, 2018

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