Cecilia Oyediran, Chair of the Cannabis Law Section of the New York State Bar Association. Courtesy photo Navigating the Green Wave: Understanding NY's Cannabis Landscape and Empowering Attorneys for Client Success
Cecilia Oyediran, chair of the Cannabis Law Section, writes: Looking ahead, the future of the regulated cannabis marketplace in New York appears promising but with lingering challenges, and there will undoubtedly be many issues for legal practitioners to navigate.
January 11, 2024 at 11:01 AM
3 minute read
Marijuana
Since the passage of the Marijuana Regulation and Taxation Act (MRTA) almost three years ago, the state has grappled with formidable hurdles in establishing a regulated market. From legal challenges, bureaucratic delays, slow retail growth, and the proliferation of unlicensed shops, the journey toward a comprehensive and smooth cannabis marketplace has been fraught with challenges. These challenges underscore the complexities and hurdles in creating a robust, equitable, and well-regulated cannabis industry in the state. The state's commitment to addressing social equity concerns and creating a well-regulated industry capable of generating significant revenue continues to drive discussions and initiatives aimed at overcoming these challenges and fostering a thriving regulated cannabis marketplace.
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