In a landmark move, the Eastern Band of Cherokee Indians has announced its intention to issue medical marijuana cards. This will pave the way for eligible individuals to purchase the first batch of legal marijuana in North Carolina, setting a precedent in the state’s cannabis narrative.
A Historic Decision
This groundbreaking decision follows a significant vote in September, which granted permission for the purchase and use of marijuana on tribal land. Initially, only enrolled tribal members will have the privilege of receiving these cards. However, the initiative will soon expand, allowing other North Carolina residents to apply and partake in this new venture.
Decriminalization and Business Expansion
In 2021, the tribe undertook progressive steps towards marijuana acceptance. They decriminalized the possession of small amounts within the Eastern Band’s vast 57,000-acre Qualla Boundary. Moreover, they laid down the foundation of a medical marijuana infrastructure, which includes a tribe-established business. This business is set to grow cannabis and distribute it via a large dispensary that’s currently under construction. This establishment will mark itself as the pioneering and sole venue for legal marijuana purchase in the state of North Carolina.
Economic Implications
The financial benefits of this move are not lost on the stakeholders. A bill introduced in the North Carolina Senate projected potential earnings of $15.1 million through the legalization of medical marijuana. This income is anticipated to stem primarily from the fees associated with patient and caregiver card applications. Additionally, the state is set to receive 10% of the gross revenue. By 2028, this amount is predicted to soar to an impressive $44.4 million.
Furthermore, should the state move towards the legalization of recreational marijuana, the financial influx could be monumental. To put things into perspective, in 2022 alone, Colorado amassed a staggering amount exceeding $325 million in cannabis tax revenue.
Conclusion
The Eastern Band of Cherokee Indians’ decision to issue medical marijuana cards is not just a nod to the changing times but a testament to the tribe’s forward-thinking and progressive nature. With the doors soon opening for other North Carolina residents, the state stands at the cusp of a transformative era in its cannabis journey.
