New York regulators approved 68 adult-use marijuana licenses, but more than 3,000 applications filed a year ago are still pending.
That’s partially because regulators want to avoid flooding the market as state-regulated recreational cannabis sales approach the $1 billion mark, Felicia Reid, the Office of Cannabis Management’s acting executive director, told Spectrum News 1.
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During Tuesday’s Cannabis Control Board (CCB) meeting, the last of the year, regulators issued:
2 cultivator licenses. 21 distributor licenses. 6 microbusiness licenses, which allow holders to cultivate, process and sell cannabis. 24 processor licenses. 15 retail licenses.
Regulators also highlighted the 261 recreational marijuana retailers open across the state – and the 400 illicit stores shut down and padlocked – as milestones reached in 2024.
“The
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