Another late-inning policy shift by marijuana regulators in New York has rattled the industry as the potential billion-dollar market preps for adult-use sales within weeks.
This time, a new real estate allowance threw retail license holders and other stakeholders for a loop, prompting aspiring entrepreneurs to take over the challenging task of finding their own retail space instead of relying on state regulators.
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Under new guidance issued Dec. 9 by the Office of Cannabis Management (OCM), Conditional Adult-Use Retail Dispensary (CAURD) license holders – New York’s version of social equity – can now submit their own proposed store locations in prequalified areas to set up shop rather than relying on and waiting for regulators to slot their stores in state-selected properties.
This significant regulatory shift – one of several in the past few months – is a big win for well-capitalized operators, according to New York
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