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Sunday, January 29, 2023

What’s next for legal weed in New York in 2023?


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last week, organizers Customers grumbled about the birth of the long-awaited adult use market in the state. Thousands waited in line to join in the historic leap forward, just in time for the new year. But Hempere State’s new billion-dollar baby is now facing major developmental pains by 2023.

Legislators have fulfilled most of the promises, incl Turning social justice into DNA From the state adult use program. But there is still a lot of work to be done if New York really wants to redefine how states approach legalization from a legislative and regulatory standpoint.

From Get deliveries up and running To settle a federal suit of A Disgruntled infirmary studentHere are the many steps that still await the new legal weed market in New York in 2023.

High prices, but plenty of alternatives

Shoppers lined up around the block to shop at Housing Works on day one, as well as during peak times throughout the week. But some customers are already complaining about the high prices.

The carts were running at astronomical prices on day one at Housing Works (over $50 for 0.5 gram carts and about $100 for one gram). Sure, the flower is affordable ($40-60 per 3.5 grams), but the options are limited. And no one is satisfied with paying $30 to $35 to eat or $18 to $50 for pre-made menus.

With these prices, the housing business should be on track to achieve it $1 million sales target in the first year. Fortunately, medical, gray market, and domestic options exist as the adult use market evolves and prices normalize.

Ultimately, pricing will be shaped by regulatory constraints that prevent undue influence from highly leveraged multinational operators. Regulations limiting interference from authorized operators are meant to give consumers the power to choose which brands thrive.

Last week, Sen. Liz Krueger Leafly said Lawmakers have examined how California and other markets have lost ground to the illicit market. Sen. Kruger and members of the state’s cannabis board said on the first day of sales that they intend to apply lessons learned from other states’ mistakes. Accessible prices will be a key part of New York’s battle to lure buyers away from unlicensed operations, some of which pollute buff while others offer West Coast quality without the local taxes.

First legal deliveries and more legal storefronts

First, the country has to offer online delivery services, through an exclusive third-party partner Dutchie. To date, none have been found 63 licensees Delivery sales have been allowed to begin.

Then New York would have to subsidize dozens of brick-and-mortar stores to join Housing Works, the only licensed adult-use dispensary open for business in the state. The Student Housing Authority (DASNY) is responsible for this process, but the office has not yet met December 30, 2022 deadline to publish a report on its efforts to raise $200 million for the new state dispensaries.

Social justice and public comments

There are also regulatory hurdles and deadlines that the country will face in the coming weeks. The country is currently digging through “hundreds of pages of banknotes” to present its social and economic justice plan, which was due to be presented on January 1, 2023, according to the Marijuana Regulatory Act and Taxes (MRTA). The MRTA legalized cannabis in New York in March 2021, laying a clear foundation for how and when regulators should roll things out. Proposed final regulations Released in late 2022, it is open for public comment before it is finalized.

The New York Office of Cannabis Management (OCM) said: Syracuse.com Clobot said it is analyzing data to locate “more than 1.2 million arrests to analyze communities disproportionately affected” by the drug war, and the agency will file the backlog of its social justice activities by the end of this week. . An OCM spokesperson said the full Social Justice Plan will be released in the first quarter of 2023.

Lawsuit blocks licenses for New York dispensaries

active Federal lawsuit It continues to block 63 dispensary licenses in Brooklyn and four other areas of the state. OCM officials have expressed confidence that the temporary injunction that currently prevents the state from granting conditional dispensary licenses for adult use will be resolved in the coming months. The plaintiff told Leafly that “ordering” the licensing process to other operators was not their intent. Until the lawsuit is resolved, potential cannabis buyers and dispensary owners in the affected areas (Brooklyn, Finger Lakes, Central New York, Western New York, and Mid-Hudson) must wait for the dispensaries to open.

Leafly spoke with Alex Norman, an affected applicant who said he doesn’t hold back about the delay. He’s simply positioning his company, Budega NYC, for other cannabis opportunities including branded products and a consumption lounge.

The crackdown continues with more raids

In NovemberLeafly reported its first law enforcement raids on unlicensed cannabis stores. Over the course of two weeks, A.J He put together a joint task force by Mayor Eric Adams 100,000 products and $4 million in cash seized from unlicensed stores. New York cannabis pioneers like Norman, Juancarlos Hunt, and Chest Bobs have moved away from Old Market, which is first in line to get licenses, from unlicensed bootleg stores abusing MRTA enforcement loopholes to pose as licensed dispensaries.

Neighbor rivalry is brewing

New Jersey beat New York on the first day of adult use sales by nearly 8 months. And from June through September 2022, weed sales in the state grew 46% sequentially. In the third quarter alone, the Garden State sold $116,572,533 worth of legal weed with only trace amounts. 20 open dispensaries. The New Jersey Cannabis Control Commission recently failed in an attempt to immerse it in one limited day in New York Tweet now deleted To which he said, “Uh… on our first 12-day job, but congrats on that one, it’s nice! Congratulations, NYC!”

Competition can generate excellence. So hopefully this friendly rivalry will lead to high times and low prices for cannabis lovers in New York and New Jersey alike. Not to mention, Connecitcut will be joining the Tri-State race next week when adult sales officially begin on January 10th.

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