New York’s Legal Weed Market Hits $150M In Sales In First Year

“We have a lot of work to do, and much to be proud of”

New York‘s legal cannabis market generated more than $150 million in sales in its first full year, according to data released by the state’s Office of Cannabis Management Friday.

More than 6,900 businesses have filed applications to sell cannabis products since the state opened its first legal dispensary in December 2022. But to date, just 40 dispensaries have been approved to sell adult-use products, the data shows. The state’s 40 legal dispensaries sold 3.5 million units of cannabis within the last year.

“We have a lot of work to do, and we have much to be proud of,” Chris Alexander, executive director at the Office of Cannabis Management, said in a statement. “Now that the core market architecture is in place, my team at OCM is ready to scale and help this industry thrive across New York state.”

To Read The Rest Of This Article On Crain’s New York Business, Click Here

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