Cannabis watchers think 2020 could be the year for legalization in New York
Cannabis advocates are cautiously optimistic that 2020 will be the year that New York state finally legalizes marijuana for adult recreational use, marking a milestone for the legal business.
Central to the plan are provisions to ensure social equity licensing opportunities. Sales will be restricted to adults of 21 years of age and older and quality controls will be used to ensure the safety and potency of products, including labeling, packaging, advertising and testing.“These efforts will be done in coordination with neighboring states Connecticut, New Jersey and Pennsylvania,” Cuomo said in a statement.
Coming a little late to the cannabis party — 11 states and the District of Columbia have already passed laws legalizing recreational cannabis use — gives New York the advantage of learning from others, said DiPisa. A recent report by Boulder, Colorado-based BDS Analytics and San Francisco-based ArcView Market Research found that about 80% of cannabis transactions in California are black-market deals, eating into the revenue available to legal players.
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