Benzinga Cannabis Hour Recap: NJ, Arizona Markets Are Exciting, But Tightly Regulated — And Expensive

As expected, the Election Day results were top of mind on this week’s edition of the Benzinga Cannabis Hour.

After cannabis ballot initiatives passed in five states — New Jersey, Montana, South Dakota, Mississippi and Arizona — Benzinga’s Patrick Lane and Elliot Lane asked C3 Industries co-founder and CEO Ankur Rungta if he had any advice to cannabis players looking at those new markets where the framework might not totally be in place.

“The two biggest markets that everyone’s talking about this week are New Jersey and Arizona,” Rungta said, highlighting how competitive the licensing market will be. There will be few licenses in New Jersey, and they will cost companies “huge amounts of money.”

Arizona is headed in that direction as well, he added.

“The expectation in those states is they’re not going to open it up widely,” Rungta said.

Michigan and Oregon, where C3 operates, required “a different skill set,” he explained. To those…

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