Virginia Gov. Abigail Spanberger Vetoes Recreational Cannabis Retail Sales Bill

Virginia Gov. Abigail Spanberger vetoed legislation that would have created a regulated retail market for recreational cannabis sales in the Commonwealth, arguing the proposal lacked the structure and implementation resources needed for a successful rollout.

“I share the General Assembly’s goal of establishing a safe, legal, and well-regulated cannabis retail marketplace in the Commonwealth,” Spanberger said in her veto statement. However, her office added that the bills would create a cannabis marketplace “without the timeline, structure, or resources to be successfully implemented.”

The decision drew criticism from cannabis legalization advocates and Democratic lawmakers who backed the legislation.

Sen. Lashrecse Aird, who sponsored the cannabis bill, said the veto allows the illicit market to continue operating while delaying opportunities for small businesses and regulated operators.

Virginia legalized adult-use cannabis possession in 2021 but has yet to launch legal recreational retail sales.

The veto keeps Virginia among a growing list of states where cannabis legalization remains partially implemented despite ongoing consumer demand and political support for broader reform.

Key multi-state operators (MSOs) currently active in Virginia’s medical cannabis market include:

• Curaleaf Holdings (OTCQX: CURLF / TSX: CURA)
• Green Thumb Industries (OTCQX: GTBIF / CSE: GTII)
• Verano Holdings (OTCQX: VRNOF / CSE: VRNO)
• Columbia Care (CSE: CCHW / OTCQX: CCHWF)
• Jushi Holdings (OTCQX: JUSHF / CSE: JUSH)
• Ayr Wellness (OTCQX: AYRWF / CSE: AYR.A)
• Cannabist Company Holdings (OTCQX: CBSTF / Cboe Canada: CBST)