New York issues first retail cannabis licenses to business owners with a past conviction in a first for the sector

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New York State's cannabis regulator has made a symbolic first step in allowing adults over 21 to buy cannabis legally – in what’s expected to be one of the largest markets in the U.S., projected at roughly $5 billion in annual revenue.

The New York Office of Cannabis Management’s Cannabis Control Board on Monday awarded 36 conditional adult-use retail dispensary licenses with a focus on equity and inclusion.

State officials hailed the license awards after a long-sought promise to work to establish a more equitable cannabis business than others around the U.S. Tremaine Wright, chairwoman of the Cannabis Control Board, described the license awards as a “heavy lift” for state officials to get up and running in the past year and receiving 900 applications for retail licenses.

The Cannabis Control Board also awarded 16 more adult-use cultivator licenses to bring the total to 277, along with eight cannabis processor licenses and three cannabis laboratory permits. Much more work awaits as New York moves to finalize regulations and award licenses for cannabis delivery companies as well as consumption lounges.

 

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Another genius idea from the state that brought you bail reform.

Just got back from NYC the entire city smells like marijuana everywhere you go. I don’t care about people using it I just wish I didn’t have to smell it walking down every street.

This is a Big Win for NY.

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