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Start Spreading the News! Recreational Cannabis Legal in New York

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  • Start Spreading the News! Recreational Cannabis Legal in New York

    I know you've all probably heard about this already, but I'm all a-twitter about this development. New York has the potential to be a huge market for the sweet leaf. I can't wait to see how this goes.

    Legal weed in NYC: Everything you need to know about marijuana in NYC

    That source is 3-days recent, with some interesting takes. Currently marijuana is legal in New York to smoke "wherever it’s legal to smoke tobacco," which seems an unusually liberal policy. However, tobacco use is limited from schools, workplaces, cars, and public parks / recreational areas.

    Eventually they talk about getting cannabis lounges deployed. Good luck with that, as so far there doesn't seem to be any state that has implemented a "cannabis bar" type of model, not even in Nevada.

    The governor's office estimates that once the New York cannabis retail market is up and running, sales could generate tax revenues of "$350 million." I hope that's a cautious estimate made to over-deliver! California tax revenue from cannabis in 2020 came in at over $100 million in a single quarter. The New York estimate is based on a 9% sales tax, so maybe that's not too far off. Still, you have to account for the tourism there.

    Details of the bill here. Briefly, it breaks down like a standard state legalization bill: Legal to purchase and possess, no penalty for riding dirty, criminal back records expunged, and they will manage things under the New York State Liquor Authority, creating an Office of cannabis Management.

    Business Insider says the New York cannabis market could reach $7 billion. Again, compare that to the current biggest state market, California, at $4.4 billion, according to Eaze's reporting. (yes, I know Eaze is in hot water itself right now)

    Anyway, as soon as the market in New York develops, we aim to have a contact there to start reviewing the East Coast cannabis scene for a change. We're going tofollow the green spread of weed wherever it leads us in the land!

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