Wednesday, May 22, 2024

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Almost a thousand applicants for first round of Marijuana Licenses in New York

The first licenses to be given out in the state of New York are to be given to 150 applicants who have been criminalized by the War on Drugs or have had direct family members convicted of a cannabis-related crime prior to the legalization of weed in the state.

A month of submission just ended, and in that month, New York received 903 applicants, which will have to be whittled down to an eighth of the size.

Bear in mind, this is only for the very first round of licenses, which will no doubt have the most hurdles to cross. If this is any indication of the actual hunger for getting into the marijuana industry by the public, then we are likely to see a very saturated market in the state of New York within the coming decade.

This comes on the heels of the city of New York taking action against illegally running marijuana trucks parked on public streets. First, it was in the form of cease and desist letters, then the trucks themselves were impounded after not obeying the letters. It’s unclear whether or not the owners of these trucks will be able to apply for licenses when they fully open up submission early next year.

Read the original story at Cannabis Business Times.

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