Predatory investors hijacked the cannabis social equity program in Arizona, where only three of the original 26 license winners still have a stake in their businesses, according to allegations filed in court and repeated in the state Legislature.
Despite outrage over this controversy, a state lawmaker’s reform proposal aimed at returning the coveted permits to their original winners failed to pass the Senate last month, in part because of interference from Gov. Katie Hobbs’ administration, observers told MJBizDaily.
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The situation is notable for its strange political alignments:
An ultraconservative lawmaker who says social equity is “a scam” agitating on behalf of social equity licensees. A Democratic governor whose chief of staff worked on the state’s adult-use legalization initiative defending what critics say
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