Topics

Posted 9/13/2023, 7:02:33 PM

New York Opens Cannabis Licensing to All After Lawsuit Delay

New York has opened its recreational cannabis licensing to anyone without a prior marijuana conviction, after previously requiring it for the initial round.
This comes after a judge temporarily halted new licenses due to a lawsuit from veterans excluded from the initial licensing round.
Investors welcome this move as New York's cannabis market has not met expectations so far.
Applications from all cultivators, processors, microbusinesses and retailers will be accepted starting October 4.
New guidelines on the application process will be posted by the Office of Cannabis Management in the coming days.

forbes.com

Relevant topic timeline:

8/18/2023

80% of Germany's medical cannabis startups set to die a painful death

Main Topic: The challenges and future of the medical cannabis industry in Germany. Key Points: 1. Difficulty in getting a prescription for medical cannabis due to strict requirements and preference for traditional pain medications. 2. Oversaturation of the market with over 200 companies competing for the same prescriptions, leading to fierce competition and limited sales for many. 3. The need for focus on compliance, quality, patient education, and differentiation in order to succeed in the industry. The future of medical cannabis lies in pharmaceutical-grade products and personalized treatments, but patent issues and research limitations pose challenges. The legalization of recreational cannabis in Germany presents both opportunities and challenges for the industry.

8/22/2023

'Black market is thriving': WA signs onto normalizing interstate cannabis commerce

Washington state lawmakers have passed a bill to expand the cannabis market across state lines by entering into an interstate compact, allowing business between state-licensed cannabis companies; however, the implementation of cross-border agreements is contingent upon federal legalization or changes to federal law.

8/22/2023

New Jersey’s weed industry is in a ‘doom loop,’ trade group says

New Jersey's legal weed industry is experiencing slow growth due to a lack of enforcement and a protracted licensing process, resulting in potential tax revenue losses and a stagnant market, according to the New Jersey Cannabis Trade Association. The association blames the New Jersey Cannabis Regulatory Commission for hindering the industry's potential and advocates for the removal of unnecessary bureaucracy. Additionally, the proliferation of unregulated hemp-derived cannabinoids and minimal enforcement against illicit operators are contributing factors to the slow industry growth.

8/23/2023

Great New York State Cannabis Growers showcase alongside State Fair

New York State becomes the first in the nation to permit the sale of cannabis at state and locally authorized establishments.

8/24/2023

Rensselaer Riverfront Farmers Market now offers marijuana

A Farmer's Market in Rensselaer will now offer cannabis sales.

8/24/2023

NYC Could See $1.2 Billion In Marijuana Sales Annually, But Licensing Hiccups And Unregulated Market Are Holding It Back, City Economists Say - Marijuana Moment

The New York City cannabis industry could generate up to $1.2 billion in annual sales, resulting in about $47 million in local tax revenue, according to a report from the New York City Independent Budget Office (IBO), but significant changes are required in order to reach this potential due to the presence of unlicensed retailers and legal hurdles.

8/25/2023

Little Falls may allow marijuana sales businesses within its borders

The township of Little Falls is reviewing an ordinance that would permit the retail sale of cannabis, seeking public input before making a final decision.

9/14/2023

New York Expands Marijuana Licenses, But Existing License Holders Left in Limbo

Hundreds of marijuana businesses in New York may face financial ruin as the state prepares to release general licenses after previously awarding licenses to individuals with prior marijuana-related convictions, leading to lawsuits and a slow rollout of legal weed.

9/18/2023

NYC Cracks Down on Unlicensed Cannabis Shops as Legal Market Slow to Launch

New York officials are intensifying efforts to crack down on unlicensed smoke shops selling cannabis, as the state struggles to establish its legal marijuana marketplace, with an estimated 1,500 unlicensed retailers in New York City potentially holding up to $484 million worth of marijuana products.

9/28/2023

New York's Slow Cannabis Rollout Pushes Some Licensees to Illegal Market

New York's legal cannabis rollout has been plagued by delays and problems, leading to the rise of illegal activity in the industry and a loss of faith in the regulatory system.

Topics

Posted 9/13/2023, 7:02:33 PM

New York Opens Cannabis Licensing to All After Lawsuit Delay

New York has opened its recreational cannabis licensing to anyone without a prior marijuana conviction, after previously requiring it for the initial round.
This comes after a judge temporarily halted new licenses due to a lawsuit from veterans excluded from the initial licensing round.
Investors welcome this move as New York's cannabis market has not met expectations so far.
Applications from all cultivators, processors, microbusinesses and retailers will be accepted starting October 4.
New guidelines on the application process will be posted by the Office of Cannabis Management in the coming days.

forbes.com

Relevant topic timeline:

8/18/2023

80% of Germany's medical cannabis startups set to die a painful death

8/22/2023

'Black market is thriving': WA signs onto normalizing interstate cannabis commerce

8/22/2023

New Jersey’s weed industry is in a ‘doom loop,’ trade group says

8/23/2023

Great New York State Cannabis Growers showcase alongside State Fair

New York State becomes the first in the nation to permit the sale of cannabis at state and locally authorized establishments.

8/24/2023

Rensselaer Riverfront Farmers Market now offers marijuana

A Farmer's Market in Rensselaer will now offer cannabis sales.

8/24/2023

NYC Could See $1.2 Billion In Marijuana Sales Annually, But Licensing Hiccups And Unregulated Market Are Holding It Back, City Economists Say - Marijuana Moment

8/25/2023

Little Falls may allow marijuana sales businesses within its borders

The township of Little Falls is reviewing an ordinance that would permit the retail sale of cannabis, seeking public input before making a final decision.

9/14/2023

New York Expands Marijuana Licenses, But Existing License Holders Left in Limbo

9/18/2023

NYC Cracks Down on Unlicensed Cannabis Shops as Legal Market Slow to Launch

9/28/2023

New York's Slow Cannabis Rollout Pushes Some Licensees to Illegal Market

New York's legal cannabis rollout has been plagued by delays and problems, leading to the rise of illegal activity in the industry and a loss of faith in the regulatory system.