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Denver Hedges on Extending Ban on New Players in Marijuana Industry

Denver officials pulled back Tuesday from immediately seeking another two-year moratorium on new players in the city’s legal marijuana market, approving instead a four-month extension to study the issue further.

Only existing medical marijuana businesses have been able to open recreational dispensaries, grow houses or edible manufacturers during the first two years of retail pot sales in Colorado.

That restriction was set to expire Jan. 1, but the city proposed extending it for two more years.Some marijuana business leaders and advocates have objected to the extension, saying it interferes with the market, while others have been more receptive.

Mayor Michael Hancock’s marijuana policy office on Tuesday asked the City Council’s five-member Business Development Committee instead to approve a 120-day extension on license restrictions.

Committee members agreed that the shorter extension gives them time to review critical industry data. [Read more at The Denver Post]

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