NY Cannabis Market Soars To $654M But Equity Licensees Are Left Behind, Report Finds
A report filed with the New York State Legislature on Oct. 1 by the Office of Cannabis Management (OCM) and the Cannabis Control Board (CCB) reveals significant growth in the state’s legal cannabis market, which has now generated nearly $654 million in sales.
However, despite the increasing revenue, over 200 retail license holders, particularly those granted permits through social equity programs, remain in limbo, Green Market Report wrote.
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The 2024 report offers a comprehensive overview of the state’s cannabis industry, addressing critical challenges such as enforcement against unlicensed operators, gaps in regulation and the financial obstacles that social equity businesses continue to face.
Social Equity Licenses In Limbo
Among the 1,704 permits approved to date, 205 are Conditional Adult Use Retail …