New York cannabis retailers have surpassed $4.1 billion in sales since the adult-use market launched in December 2022. Gov.
The total includes $1.41 billion in sales through the third quarter of 2026. New York now ranks third in the United States for adult-use cannabis sales.
More than half of the state’s adult-use licenses have been awarded to social and economic equity applicants. Hundreds of licensed dispensaries are now open across the state.
Hochul, a Democrat, framed the milestone as the fulfillment of a promise made when the state legalized adult-use cannabis.
The governor’s office noted that cannabis revenue is going back to communities across the state.
“When New York legalized adult-use cannabis, we made a promise to build an industry that is safe, fair and creates real opportunity for the communities hit hardest by decades of failed drug policies. Topping $4 billion in sales shows that promise is a reality,” Hochul said in a statement.
“Hundreds of licensed dispensaries are now open across the state, most licenses have gone to equity entrepreneurs, and cannabis revenue is going back to communities that need it most,” Hochul added in the statement.
Cannabis Control Board Chair Jessica Garcia also commented on the milestone.
“This milestone reflects tremendous progress, but it also raises the bar for what comes next,” Garcia said.
“The measure of this market’s success will continue to be not only how much it grows, but whether that growth creates a lasting opportunity for the New Yorkers this market was designed to serve,” Garcia said.
A September survey found that New York retail cannabis workers make about 25% more than the state’s average retail worker’s salary.
The adult-use market began operating in December 2022, and sales have grown steadily since then.
New York’s third-place national ranking places it among the top adult-use cannabis markets in the country.
The state’s licensing emphasis on social and economic equity applicants has been a defining feature of the market since launch.
Regulators indicated that continued growth and equity outcomes will remain the measures of the market’s success going forward.
Nearly 4 Million Patients Registered Nationwide Nearly 4 million patients are registered to use medical marijuana under state laws in…
Wine's Lesson On Motivation In the mid-2000s, Constellation Wines U.S. surveyed 3,500 premium wine consumers for a study it called…
Governor and Challenger Both Oppose Repeal The Democratic governor of Massachusetts and her Republican opponent in next week's election both…
The Bill and Its Requirements A bipartisan bill in Congress would label cannabis advertising as high-risk. The measure is the…
This week brought a mix of operational guidance and market milestones for the cannabis industry. Closing the Gaps in Cannabis…
Appellate Court Reverses Lower Court Ruling A California appellate court ruled last week that some felony cannabis convictions may be…
