Despite assurances from the governor and regulators as well as progress on retail lease negotiations, New York marijuana industry officials and experts are increasingly concerned the state’s billion-dollar adult-use market won’t launch by year’s end.
The uncertainty has left many applicants and businesses in a standstill, killing most of the buzz surrounding the launch of an expected robust marketplace.
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“A lot of the excitement died down actually because of how long it’s taken,” said David Pejovic, a New York cannabis attorney who specializes in regulatory issues and compliance.
“People are losing their initiative for what’s going on.”
Several issues are clouding the retail outlook and launch:
Adult-use regulatory policies and operational procedures, including product testing, have yet to be finalized. Regulators are still vetting more than 900 conditional adult-use retail dispensary (CARD) applicants, who are the first in line to open stores. These applicants have been affected
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