New York cannabis in 2021 in review: Marijuana industry finally gets rolling | Cannabis Business Executive – Cannabis and Marijuana industry news

March 31 marked an end to recreational cannabis prohibition in the Empire State, and the beginning of the painstaking task of establishing what will likely become one of the nation’s largest regulated marijuana markets. That was the day then-Gov. Andrew Cuomo signed into law New York’s Marihuana Regulation and Taxation Act, one of the most…
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March 31 marked an end to recreational cannabis prohibition in the Empire State, and the beginning of the painstaking task of establishing what will likely become one of the nation’s largest regulated marijuana markets.

That was the day then-Gov. Andrew Cuomo signed into law New York’s Marihuana Regulation and Taxation Act, one of the most progressive cannabis laws enacted among the 18 states (and D.C.) that have fully legalized marijuana. MRTA’s passage marked a historic moment born from decades of pro-pot activism and political horsetrading, and that was the easy part.

In the months following, Cuomo’s administration made little to no progress in setting up a regulatory framework for the potentially multibillion-dollar market.

By comparison, his successor, Gov. Kathy Hochul has turbocharged the process: Within two weeks of taking office last August, Hochul appointed Tremaine Wright as chair of New York’s Cannabis Control Board and Christopher Alexander as executive director of the Office of Cannabis Management.

Activists, legislators and New York’s cannabis business community welcomed the swift progress, but concerns linger regarding what companies will be able to open first, if the law’s social equity measures will be effective, and whether Wright’s estimated 18-month timeline for setting up the industry could undermine legalization amid a rising grey market. [Read More @ Syracuse.com]

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