The Marijuana Herald – Marijuana news and information
New York’s legal marijuana market is on track to surpass $1 billion in sales by the end of December, according to state officials.
Since its launch two years ago, the market has recorded $863.9 million in sales, with recent months showing substantial growth. The state reached $500 million in cumulative sales by August, signaling accelerating momentum.
“These numbers clearly indicate that New York is open for business,” said John Kagia, policy director for the Office of Cannabis Management (OCM). “There’s strong momentum behind the market right now.”
The early rollout of the legal market faced significant challenges, including lawsuits, competition from illegal dispensaries, and delays in issuing retail licenses. Governor Kathy Hochul commissioned a report earlier this year that criticized the management of the OCM, leading to a leadership overhaul and the hiring of 64 additional staff members. The agency now employs 213 full-time workers and has increased the number of licensed marijuana outlets to 245, up from 41 at the end of last year.