NY Battles Illicit Cannabis Shops: Will Regulatory Tweaks Trigger A Market Makeover?
Since the approval of the Marijuana Regulation & Taxation Act in 2021, New York’s journey towards a flourishing legal cannabis market has been fraught with challenges.
Regulatory hurdles and a thriving illicit market have hindered the growth expected by industry stakeholders and legislators alike, prompting calls for significant reevaluation of enforcement and licensing strategies.
Lawmakers Eye Regulatory Tweaks
State legislators, spearheaded by Assembly Majority Leader Crystal Peoples-Stokes (D) and Governor Kathy Hochul (D), are considering significant revisions to the Marijuana Regulation & Taxation Act, reported Spectrum News 13. Amid criticisms of a slow rollout and an ineffective crackdown …