At Issue: July 16 — Access, financing arise as key factors in legal cannabis market

Starting on Aug. 1, the Red Lake Nation will begin sales of recreational marijuana. The tribe is taking advantage of sovereignty over laws that govern marijuana regulations on tribal land, but it’s unclear if other tribes will follow suit.

For the rest of the state, don’t expect to be able to buy recreational cannabis from a dispensary until late 2024 at the earliest while the Office of Cannabis Management figures out a structure for licensing sellers.

And because marijuana is still illegal under federal law, it will be tough for cannabis-related businesses to secure loans from federally regulated banks. In the meantime, state-chartered credit unions seem to be the go-to option.

After two decades at the Office of Minnesota Management and Budget, Commissioner Jim Schowalter is stepping down after watching the state swing from budget deficits to surpluses. He joins “At Issue” in the studio to discuss the recent historic budget surplus — and a historic increase in state spending.

Later in the show, our political analysts sit down to talk more about the budget and the issues surrounding Minnesota’s new marijuana laws.