New York “jumpstarts” process to open REC market

By Alex Halperin
Sep 2, 2021

New York’s new governor, Kathy Hochul (D) is pushing to open the states REC market after her disgraced predecessor Andrew Cuomo legalized it and then let it stall. She opened a special session of the legislature saying she wanted to “jumpstart long-overdue decisions” on legalization.
YouTube, NY Post 

  • Christopher Alexander, a former staffer with the pro-legalization Drug Policy Alliance, was confirmed as executive director of the Office of Cannabis Management (OCM).
  • Tremaine Wright (D), a former state assemblywoman from Brooklyn, was confirmed as chair of the state’s Cannabis Control Board, which will have discretion over licensing and other aspects of the industry.
  • Both are strong supporters of cannabis equity. 
  • A young activist’s rant about his town’s restrictive pot policy went viral on TikTok.

The OCM will be charged with determining the state’s final regulations.
Cannabis and the Law

  • Veteran pot journalist Chris Roberts argues former Gov. Cuomo created a very hospitable business climate for the biggest companies.
  • Sales, which won’t begin until next year at the earliest, could generate $350M in state taxes annually.
  • CPA Jason Hoffman weighed in on what businesses need to consider before entering the market.

Meanwhile, cannabis arrests in New York City have fallen sharply since the state legalized.
Marijuana Moment