Credit: Kyle/Adobe StockCannabis 'Cannibalization' Among Concerns of NYS Pot Attorneys
Cannabis lawyers are concerned about the over-saturation of New York's legal marijuana industry, which now has 261 stores, and is closing in on $1 billion in combined sales since early 2023.
December 10, 2024 at 06:40 PM
4 minute read
New York's legal marijuana industry has closed in on $1 billion in combined sales since early 2023, with three-quarters of those sales generated during a "whirlwind" 2024, a state policy director said during Tuesday's Cannabis Control Board meeting.
The market has thus far amassed nearly $919 million, with New York estimated to "comfortably" eclipse $1 billion when the final four reporting weeks of 2024 are tallied, said John Kagia, the Office of Cannabis Management's director of policy.
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