Legal Cannabis Market News

New York Marijuana Licensing Faces Legal Challenges Despite Market Rollout Disaster

A federal judge rejected a lawsuit attempting to stall New York's marijuana licensing, despite Gov. Kathy Hochul criticizing the state's legal cannabis market roll-out as a "disaster." The judge cited the significant investments made by cannabis entrepreneurs and the potential harm to New York's adult-use cannabis industry. The Marijuana Regulation and Taxation Act, signed into law in 2021, legalized adult-use cannabis in New York, prompting the removal of nearly 400,000 cannabis-related arrests and convictions. However, the slow licensing process has led to thousands of illegal marijuana storefronts operating without a license, prompting criticism from the governor.