New York City

New York State Has Issued 403 Adult-Use Cannabis Licenses In 2024

On March 31, 2021, New York legalized cannabis for adult-use. However, it wasn’t until December 2022 that the first legal adult-use sales started to occur. The first legal sales happened at a dispensary in Manhattan’s East Village at a retailer named Housing Works Cannabis Company.

According to CNN at the time, “The bill allows adults 21 and older to buy cannabis from authorized sellers. Adults can also possess up to 3 ounces of cannabis and 24 grams of cannabis concentrate. Eighteen months after the first sales begin, the law will allow adults to grow six mature and six immature plants at home per household.”

New York State’s legal cannabis industry has had to compete with an unregulated industry that has proven hard for policymakers and regulators to get a handle on. As of March of this year, the New York Times estimates that there are roughly 2,000 unregulated cannabis shops in New York.

The number of regulated retailers in New York State is a fraction of the number of unregulated retailers, however, the population of legal outlets is increasing, along with other types of industry licenses.

New York Governor Kathy Hochul recently announced that over 400 licenses have been issued so far in 2024.

“Governor Kathy Hochul today announced that the New York State Cannabis Control Board has issued 403 adult-use cannabis licenses in 2024 to bolster the legal market in New York. The Cannabis Control Board recently issued 101 licenses, building on significant progress to strengthen our state’s cannabis regulatory framework with the passing of several resolutions aimed at issuing new licenses, streamlining the adult-use cannabis licensing process, and enhancing critical enforcement measures.” Governor Hochul’s office stated in a press release.

“With the Cannabis Control Board’s issuance of 101 adult-use cannabis licenses, New York’s legal cannabis industry continues to make significant progress with over 400 licenses issued in 2024,” Governor Hochul said. “Strengthening New York’s equitable cannabis industry and ensuring the hard-working small business owners operating in the legal market have the licenses to open are the best way to protect the integrity of sales in New York.”

“Our budding cannabis market takes another crucial step forward by strengthening our supply chain, and licensing 101 New York-based businesses who have the grit, skill, and ability to make sure our equitable market has the power to deliver the quality cannabis products New Yorkers expect to purchase when they walk into a legal dispensary.” Office of Cannabis Management Executive Director Chris Alexander said about the most recent round of license approvals.

“These resolutions represent a significant milestone in our efforts to establish a robust and responsible adult-use cannabis market. By issuing this new batch of licenses, enhancing enforcement protocols, and introducing provisional licensing, we are creating a framework that prioritizes equity, transparency, and public safety.” Cannabis Control Board Chair Tremaine Wright said.