NY clears legal hurdle to issue cannabis licenses in the Finger Lakes region, as pot stocks rise

The New York State Cannabis Control Board on Tuesday approved a settlement to a lawsuit that prevented it from issuing licenses in the Finger Lakes region. The state approved the settlement with Variscite NY One Inc., which won an an injunction against the state in federal court last year based on allegations that New York violated interstate commerce rules when it limited its first rounds of cannabis licenses to New York residents affected by the War on Drugs and local non-profits last year.

is up by 7%, Cresco Labs CRLBF is up by 8.5% and RIV Capital CNPOF is up by 4.4%. The AdvisorShares Pure U.S. Cannabis ETF MSOS is up by 5.7%.

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