A year after New York became the country’s second most populous state to commence adult-use marijuana sales, the Office of Cannabis Management (OCM) has released its latest annual report, along with a pair of separate documents focusing on equity in the industry and an enforcement against unlicensed operators.
The full annual report, which spans 91 pages, comes a few days after OCM offered a brief snapshot of the state’s first year of legal sales, highlighting that consumers purchased more than 3.5 million cannabis products during the year, with total sales expected to exceed $150 million once December’s numbers are tallied—an appreciable but somewhat slow start given that only 40 licensed dispensaries had opened for business across the entire state by 2023’s end.
🗽 #NYcannabis Market: pic.twitter.com/MZSP4u7aBI
— NYS Office of Cannabis Management (@nys_cannabis) January 1, 2024
New York’s rollout of legal marijuana sales, which kicked off in the final days of 2022, slowed to a crawl in 2023 amid lawsuits and a court injunction that that wasn’t lifted until early December and barred regulators from processing hundreds of new retailer licenses. The situation created a bottleneck in the market, leaving growers without enough retail products to move their products.
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