New York Launches Adult-Use Cannabis Sales With First Dispensary Opening

New York Launches Adult-Use Cannabis Sales With First Dispensary Opening
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Regulated sales of adult-use cannabis began in New York on Thursday with the opening of the state’s first licensed adult-use cannabis dispensary in Manhattan. The new retailer, operated by the nonprofit organization Housing Works, opened the doors of its new retail location in the East Village at 4:20 p.m. The opening of the dispensary heralds the launch of New York’s new adult-use cannabis economy, which is expected to soon be one of the most lucrative regulated marijuana markets in the nation. “Today marks a major milestone in our efforts to create the most equitable cannabis industry in the nation. The opening of the first legal dispensary in our state right here in New York City is more than just a promising step for this budding industry—it represents a new chapter for those most harmed by the failed policies of the past,” New York City Mayor Eric Adams said in a statement. “The legal cannabis market has the potential to be a major boon to New York’s economic recovery—creating new jobs, building wealth in historically underserved communities and increasing state and local tax revenue.” New York Legalized Adult-Use Cannabis Last Year The New York State legislature legalized adult-use cannabis last year with the passage of the Marihuana Regulation and Taxation Act (MRTA), which was signed into law by former governor Andrew Cuomo on March 31, 2021. Last week, his successor, Gov. Kathy Hochul, announced that retail sales of cannabis would begin in New York on December 29, fulfilling a pledge to get the regulated adult-use cannabis market up and running before the end of 2022. “Since the MRTA was signed, now nearly two years ago, we’ve all been envisioning the moment that legal adult-use sales would finally launch here in New York,” Allan Gandelman, president of the Cannabis Association of New…

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