Washington’s first wave of state-licensed cannabis retail stores are anticipated to open for business next week. Initiative 502, approved by a majority of voters in November 2012, authorizes the establishment of state-licensed cannabis producers and retail sellers.
The state’s Liquor Control Board is expected to begin issuing licenses on Monday, July 7. An estimated 20 retail stores are anticipated to open their doors later in the week. Similar state-sanction stores have been operating in Colorado since January 1.
With only a small number of stores likely to be operational at first, regulators anticipate that consumers’ demand for legal cannabis may initially outpace supply. In Colorado, retailers struggled initially to meet consumer demand, resulting in temporarily inflated retail prices for cannabis. Prices have steadily fallen in Colorado as additional retailers have opened for business.
Since the passage of Initiative 502, police filings for low-level marijuana offenses have fallen from over 5,000 annual arrests to just over one hundred.