The governor of New York is marking the five-year anniversary of adult-use marijuana legalization in the state, touting $3.3 billion in retail sales, the opening of more than 600 licensed cannabis shops and achievements in promoting social equity in the industry while taking steps to mitigate the illicit market.
In a press release on Friday, Gov. Kathy Hochul (D) said “New York committed to building a cannabis market rooted in equity, safety, and opportunity” when the state enacted the Marihuana Regulation and Taxation Act five years ago.
“We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market,” the governor, who has helped lead the implementation of the cannabis reform and celebrated its milestones along the way, said. “Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way.”
In addition to seeing $3.3 billion in recreational marijuana sales over the past half-decade, New York officials have also licensed 2,161 cannabis businesses across the supply chain, including 610 retailers that are now operational. The 600th marijuana shop, Pure Blossoms, recently opened its doors in Manhattan.
“New York’s cannabis market is demonstrating that
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