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.