New York's recreational marijuana market lags as lawsuits stall store openings

New York predicted 120 recreational dispensaries by now, but only has 27 open compared to 432 in Montana and 633 in New Mexico.

New York has made $66 million in cannabis sales so far in 2022, while Montana generated $170 million and New Jersey over $300 million.

Lawsuits and bureaucratic challenges have slowed New York's market launch intended to prioritize social equity applicants.

New York created a $200 million fund to help marginalized entrepreneurs, but faced difficulties raising and administering the capital.

Lawsuits have halted store openings in New York twice already, challenging the equity-focused licensing process.