On pace for $1.5 billion in sales this year, New York’s legal marijuana industry can support about 1,700 stores, cannabis regulators believe.
Any more than that, and retailers will risk shrinking sales and going out of business, state Office of Cannabis Management analyst Kevin Brennan said during a state Cannabis Control Board meeting on Friday, according to Crain’s New York.
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New York legalized adult-use marijuana in 2021. Sales launched in December 2022 after a rocky start but have grown steadily as regulators approve more licenses.
After the program’s first billion-dollar year in 2024, annual sales in 2025 remain strong – and on pace to fulfill a prediction from OCM Director Felicia Reid that $1.5 billion in annual sales is possible.
New York marijuana
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