South Dakota companies looking to enter the legal marijuana market are organizing.
Marijuana will be available for purchase in South Dakota in the future. And while the extent to which the previously illegal drug is still unclear, business owners and entrepreneurs aiming to capitalize on a legal marijuana market have formed a business organization to ensure a “fair and regulatory environment.” competitive â.
The Cannabis Industry Association of South Dakota (CIASD) announced its creation last week.
âI am delighted to help launch this organization,â said Ned Horsted, who will be the interim executive director of CIASD. “The policies established by Amendment A and Measure 26 will create new economic opportunities for South Dakotas and the CIASD will ensure that the state fully realizes this potential.”
Following: What we know about the legalization of recreational and medical marijuana in South Dakota
Measure 26 initiated authorizes the use, sale and cultivation of marijuana for medical purposes, and Amendment A makes cannabis legal for all adults in South Dakota. While the fate of the latter depends on a decision of the Supreme Court of South Dakota, the measure initiated 26 will take effect on July 1.
And that means that regardless of the outcome of the Amendment A challenge, the South Dakota marijuana industry is coming out of the black market. And it is expected to generate millions in revenue for local and state governments.
But ensuring that the regulatory structure put in place around a marijuana market is not too cumbersome or unfair requires the involvement of those who will be involved in the marijuana trade, the group said in a press release.
CIASD members include both medical and recreational cannabis companies as well as ancillary companies that work alongside the cannabis industry.
CIASD members so far include Deadwood Management, FSST Pharms, Johnson Properties, LLC, Blau Ernte, LLC, MedRec, LLC, North Coast Cannabis Company, LLC.
SDMCS LLC and Sozo SD, Inc.
ICASD accepts applications from potential new members. Further information is available on the CIASD website (www.ciasd.com).