New York Tiptoes Toward Legalization

Politically outflanked on all sides by a sweeping states-led movement toward legal adult-use cannabis, politics and reality caught up to New York state this week as the administration of its powerful Democratic governor, Andrew Cuomo, cracked the door to legalized recreational use of cannabis for the first time. The move reflected the state’s cautious approach, as New York’s top Department of Health official said at a news conference that the department would release a report recommending the state move forward with allowing cannabis to be sold for recreational purposes.

A recent report by New York City Comptroller Scott Stringer estimated that New York state’s market could be $3.1 billion, bigger than current markets in Colorado and Washington combined. New York City would likely become one of the country’s biggest markets and has long been a tantalizing industry target. In recent years, though, it’s also been elusive despite the state and city’s proclaimed Democratic and progressive agendas. As New York has inched forward, it is now surrounded by legalization: sales go live in border state Massachusetts in the coming weeks, Vermont legalized cannabis (but not sales) this year, Canada’s legalization bill will go into effect in October, and New Jersey could legalize by the end of the year.