Tag: New York

While the New York Office of Cannabis Management and the Cannabis Control Board are the direct targets of numerous lawsuits, licensees feel as if they are collateral damage. Retail operators that received licenses in the first round and managed to open fairly quickly are untouched. But the groups and individuals who got licenses later are now in cannabis purgatory. These unlucky licensees are stuck on the sidelines anxiously waiting on the courts to decide if they will get a pass… Read more.

New York marijuana regulators have spent nearly the past month trying to convince a state judge to allow a handful of conditional adult use retail dispensary (CAURD) licensees to open for business, but as of Friday, nothing the state tried had yet worked, which leaves the Empire State with just 23 operational legal cannabis shops for the foreseeable future. When Judge Kevin Bryant handed down a preliminary injunction last month that froze all retail permitting, he also tried to be flexible with… Read more.

Profitable enterprises take time to build – but it continues to run thin in one of the industry’s most promising cannabis markets. That sentiment underscored many of the conversations that took place at Green Market Report’s first New York Summit on Sept. 13 in the heart of the Big Apple. Operators and investors large and small traded advice and stories of power, money, and property within the context of a market brimming with opportunity, but one that is also showing signs of… Read more.

It’s become a stink at the U.S. Open: a pungent marijuana smell that wafted over an outer court, clouded the concentration of one of the world’s top players and left the impression there’s no place left to escape the unofficial scent of the city. While the exact source of the smell remained a mystery Tuesday, one thing was clear: Court 17, where eighth-seeded Maria Sakkari complained about an overwhelming whiff of pot during her first-round loss, has become notorious among… Read more.

The court order blocking new entries into New York’s struggling adult-use cannabis market remained in force after a Friday hearing in Ulster County Supreme Court – despite a new appeal filed by the state attorney general to lift the stay. However, 30 applicants who filed for their permits in time might be able to open for business. Several hundred more would-be recreational marijuana entrepreneurs, including both small businesses and major multistate marijuana operators, must wait at least a few more… Read more.

The temporary restraining order that halted further cannabis retail licensing in New York was extended by at least two weeks by a state judge on Friday, in a case that has hundreds of conditional permitholders wondering what will come next for them. The ruling that paused licensing was initially handed down on Monday, after four service-disabled military veterans filed suit against the state Office of Cannabis Management and the Cannabis Control Board, alleging that regulators had wrongly skipped their demographic during the conditional adult… Read more.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) announced its financial results for the second quarter ended June 30, 2023. The commercial mortgage real estate investment trust reported that its net interest income fell 8.3% sequentially to approximately $13.7 million. However, this was an increase over last year’s net income of $11.8 million for the same time period. The company attributed the drop to the impact of the timing of early principal repayments and the lower average principal outstanding during the quarter. Chicago… Read more.

New York tops a lot of lists — including the list of biggest cannabis-consuming cities. The new 2023 Cannabis Global Price Index, compiled by health-information firm CFAH, ranks global metros by their annual weed intake, and the Big Apple apparently knows how to get its toke on. New Yorkers, ahem, jointly consume 62.3 metric tons — or about 137,000 pounds — of the devil's lettuce every year. That puts Gotham ahead of Sydney, Australia; Los Angeles;  Chicago; and Rome, Italy, which make up the Top 5… Read more.

Housing Works' retail manager says the company has been operating in the black since opening its doors. Housing Works, the first legal adult-use marijuana shop to open for business in New York, announced Monday that it sold $12 million in cannabis in its first six months of operations. It opened its doors just two days before New Year’s Eve. The nonprofit retailer – which devotes all of its proceeds to helping underprivileged members of the community – has managed to average… Read more.

New York social justice cannabis applicant Roland Connor opened his Manhattan dispensary in the Village to great fanfare at the beginning of the year. However, it was only a temporary store. Nine weeks ago, the dispensary shut down for a total renovation that cost $1.4 million and was constructed by Temeka. Smacked is expected to officially reopen in two weeks. Among the developments for the newly renovated store is the consumption lounge that is planned to take up residence in… Read more.

The photographer is asking for legal fees and damages - to be determined by the court - to be covered. The online dispensary locator app Leafly (OTC: LFLY) is in hot water for using a photographer’s images of rappers Tupac Shakur and Snoop Dogg. Photographer T. Eric Monroe, whose work has been featured in publications such as Thrasher and XXL Magazine, claims Leafly Holdings unlawfully published and displayed Monroe’s original photography on its website leafly.com. In addition to helping consumers locate dispensaries, Leafly offers… Read more.

Morón's tenure has brought a generation of women entrepreneurs to the fold. Gia Morón, president of Women Grow, a professional network for women in the cannabis industry, is set to depart from the organization, effective July 31. Morón is stepping down to devote more energy to her business ventures, according to a release Thursday. The company’s board chairwoman and CEO, Dr. Chanda Macias, will maintain her leadership role. “Gia Morón was fundamental and instrumental to the growth and success of so many… Read more.

State tax agents backed up by New York City cops arrived at two Manhattan outlets of the Empire Cannabis Clubs on July 11, seizing a large amount of product at one location and making arrests at both. But the arrests were just for “obstruction” of the raids, which were themselves carried out without warrants. This represents a first move toward legal action against Empire Cannabis Clubs, the most professional and high-profile of the city’s membership-based dispensaries.  Empire Cannabis insists they are… Read more.

New York Police Department officers and state tax agents raided several illicit dispensaries in Manhattan this week, following through on Governor Kathy Hochul’s promise to levy hefty fines and shut down unlicensed operators. The state’s latest crackdown focused on Empire Cannabis Club, a so-called concierge service with locations in Chelsea and the Lower East Side. Billing themselves as private clubs that provide dues-paying members with access to cannabis products, Empire’s five stores are among the most visible and flagrant licensure… Read more.

Edibles are an invaluable segment of the cannabis industry. From classic THC-infused brownies to flavorful fruit-filled gems, edibles have captivated the imagination of medical patients and recreational consumers across all walks of life. In sports, former heavyweight foes Evander Holyfield and Mike Tyson transformed into friendly business partners through the development of their commemorative edibles offerings. In music, global superstar Calvin “Snoop Dogg” Broadus has turned his love for the plant into a vibrant collection of cannabis products, including fruit-flavored and savory… Read more.

New York Gov. Kathy Hochul’s office appears to have put an indefinite hold on an idea floated in May by state regulators for marijuana farmers markets, a plan popular with growers because it would have provided a safety valve for hundreds of pounds of unsold marijuana crops from 2022. The idea was first announced by the state Office of Cannabis Management almost two months ago, at which point OCM staff said they were hoping to have some farmers markets operational by… Read more.

In this week’s cannabis news round-up, NBA and the NBPA reach a ground-breaking agreement on cannabis policies; Maryland reports more than $10 million in cannabis sales during the state’s opening weekend of adult use market; New York secures $150 million for cannabis social equity investment fund and the only licensed hemp farm in the British Isles closes after UK government dispute. NBA and Players Union Reach Ground-breaking Agreement on Cannabis Policies This week, the NBA and National Basketball Players Association… Read more.

New York has finally secured an investor to help fully fund the $200 million in startup capital promised to social-equity marijuana entrepreneurs to open “turnkey” dispensaries, Gov. Kathy Hochul has announced. Chicago Atlantic Admin, a publicly traded, Illinois-based investment firm that’s funded marijuana businesses across the country, has agreed to invest “up to $150 million” in the New York State Cannabis Social Equity Investment fund, Hochul said in a news release issued Friday. The state itself has agreed to pony up $50 million to… Read more.

The large-scale merger of marijuana multistate operators Cresco Labs and Columbia Care is in question after the companies failed to divest assets necessary for regulatory approvals by the June 30 deadline. It’s not clear if the companies are still working toward completing the transaction or if they will abandon it. “At this stage, Cresco and Columbia Care are working amicably with respect to the next steps in relation to the transaction and will provide further updates in the near future,” the companies… Read more.

A $200 million fund to support social equity marijuana retailers is now certain to be fully funded, following a new $150 million investment deal with Chicago Atlantic, Gov. Kathy Hochul’s office announced Friday. Chicago Atlantic Admin LLC committed up to $150 million in senior secured capital for the Social Equity Cannabis Investment Fund, which will be used on a rolling basis to lease dispensary space for qualified cannabis retail locations. The funding deal delivers on a pledge made by Hochul in March 2022 to… Read more.

On the Revel hosted a New York cannabis community event on June 22 bringing together licensed operators. New York cannabis producers were able to display their businesses as potential buyers shopped around for dispensary products. Roughly 800 people attended the event held in Hudson, New York. Despite the trouble in the New York market, the mood was celebratory and optimistic. https://www.youtube.com/embed/9XxoXMNQjxQ Read more.

A significant player in the psychedelics industry has received a $5 million infusion from hedge-fund billionaire and New York Mets owner Steve Cohen and his wife, deepening the couple’s efforts to bring mind-altering therapies into the mainstream. The Steven & Alexandra Cohen Foundation is donating the funds to MAPS, or the Multidisciplinary Association for Psychedelics Studies, a nonprofit that has pushed for more research on psychedelic drugs since 1986. The organization is engaged in a financially-intensive push to get the… Read more.

Programs must address systemic inequities that exist across the board. In the run-up to the national Juneteenth holiday, which marks the date in 1865 when Black Americans in Texas learned they’d been freed by the Emancipation Proclamation, Green Market Report reached out to a pair of Black women cannabis industry leaders to get their thoughts on how far the marijuana industry has yet to go on racial equity. The answer was simple: It’s so far that it’s hard to even put into… Read more.

A survey by the American Psychiatric Association (APA) and Morning Consult found Americans believe cannabis is less harmful than cigarettes, vapes, alcohol, and prescribed and non-prescribed opioids but more harmful than technology. The survey also found that respondents believed that cannabis was less addictive than cigarettes, vapes, alcohol, prescribed and non-prescription opioids, and technology. In a statement, APA President Dr. Petros Levounis said the survey showed “It is clear that we have gotten the message through that cigarettes are dangerous and addictive.”… Read more.

Just like the old days when cannabis was illegal and Manhattanites got their weed from a guy in a van, Doobie launched a new delivery service that brings products from the licensed Union Square Travel Agency to customers within 60 minutes. Since there are few licensed operations in the city, many customers may not be near such a store. Doobie also plans to expand into other boroughs. (Full Story) https://youtu.be/9FBy7JHod-4 Read more.

The Cannabis Control Board is holding a public meeting Thursday morning to announce they are prioritizing the expansion of New York’s cannabis supply chain. In the public meeting on Thursday, the board announced that they have approved 251 Conditional Adult-use Retail Dispensary licenses. 49 are still left to be awarded at a future board meeting, including 11 more from the Finger Lakes region. On Thursday, seven licenses from the Finger Lakes were approved. The applicants that were approved include: MJ… Read more.

Plant-touching and ancillary cannabis businesses are operating within one of the world’s most fragmented regulatory landscapes. And as more U.S. markets come online, keeping track of cannabis compliance requirements will only become more complex. The importance of marijuana regulatory compliance cannot be overstated. Implementing a robust compliance program is critical to protecting not only businesses but also licenses, pipelines and reputations. It is also key to creating a culture of accountability that encourages employees to follow the rules, which frequently… Read more.

When New York state began laying the groundwork for its recreational cannabis industry last year, officials cast atoning for the harm done by the war on drugs as a cornerstone of the ambitious plan — and promised to give people who were previously convicted of marijuana offenses the first opportunity to sell it legally. Today, that effort appears to be foundering: Although Gov. Kathy Hochul suggested last fall that more than 100 dispensaries would be operating by this summer, just… Read more.

Alcoholism runs deep in both sides of my family. To prevent possibly continuing those patterns as I get older, I’ve become more interested in exploring other options for social drinking;  Alcohol-free wines and spirits have become significantly more accessible in recent years, and cannabis-based mocktails is one of the most interesting trends in this space.  Picture a zero-proof drink with all the layers of flavor we’ve come to love in a cocktail, but with a THC and/or CBD mixture that… Read more.

Acclaimed New York City-based potter, designer and author Jonathan Adler is perfectly poised at the intersection of high-end design and subversive style. Since launching his first collection at Barneys New York two decades ago, Adler has built a cult-like customer base with his covetable, tongue-in-chic ceramics and interior accoutrements. He correctly refers to his gorgeously recognizable design aesthetic as “modern American glamour.” Bullseye. Checking in on the celebrated designer’s views on drug iconography and the evolution of cannabis paraphernalia was… Read more.

New legislation and major policy shifts have been proposed to stabilize the shaky rollout of New York’s adult-use marijuana program, including allowing some of the nation’s largest multistate operators (MSOs) to enter the expanded market by year’s end. Regulators at the Office of Cannabis Management (OCM) recently proposed the revised regulations to jump-start the potential $3 billion market with more retail locations. Regulators also hope to energize a supply chain that currently offers limited business opportunities. As of press time, only 12 retailers had… Read more.

New York cannabis cultivators may have a partial solution to something they say they've been dealing with for months; not having enough places to sell the pot they grew over the past year. The state Office of Cannabis Management's fledging market has only yielded 12 retail dispensaries statewide and the timeline for more to open their doors is uncertain. But during a Thursday town hall hosted by the Cannabis Association of New York, state representatives said selling at farmers' markets should… Read more.

On May 18 and 19, retailers, buyers, and investors attended the exclusive, invite-only Luxury Meets Cannabis Conference in Manhattan, NY. The prestigious two-day event, billed as the first B2B trade event of its kind, was an opportunity for luxury cannabis, CBD, and hemp wellness brands to connect with New York’s burgeoning adult-use market. Unlike other tradeshows, LMCC’s aesthetic was akin to an Apple Store—spacious, white and inviting. Dozens of brands were in attendance, with sitting areas purposefully created for conversations.… Read more.

Cannabis industry earnings calls have been a little quieter this year. Fewer research analysts are covering the U.S. marijuana industry, which experts say reflects the challenging economic headwinds facing the industry, including high taxes, high interest rates, rock-bottom stock prices and the slow pace of federal MJ reform. New York-based Cantor Fitzgerald and Cowen are among the more notable financial-services firms that have dropped coverage of U.S. plant-touching cannabis companies. “It speaks to the unhealthy state of our industry,” Jesse… Read more.

Chef Jake Cohen’s professional culinary journey has been ruled by two constants: his love of cooking Jewish food and his love of cannabis. The chef, social media star, best-selling cookbook author and food-scene darling has been an out-and-proud stoner from the get-go. From his website, which proudly boasts the URL WakeAndJake.com, to his open discussion of using and loving cannabis, Cohen doesn’t shy away from the plant when building his personal brand—partly, he says, because cannabis has always been there for him.… Read more.

Regulated adult-use marijuana sales in New York state have surpassed $16.5 million since the first dispensary opened in December, state regulators said last week. Despite early estimates projecting sales in excess of $1 billion in 2023, lawsuits and bureaucratic delays have consigned New York’s adult-use market to a slow start. Many licensed equity operators have struggled to secure funding and real estate to launch their businesses, and the multistate operators who hold most of New York’s limited medical marijuana licenses are still shut… Read more.

The bakery was ultimately shuttered due to health department violations. New York City’s haphazard enforcement against unlicensed cannabis shops took another shot on Monday. Sweetooth, an Upper East Side bakery allegedly selling unlicensed cannabis-infused products, was shut down by city officials in a multiagency raid led by the New York City Sheriff’s Office, according to Patch.com. Hundreds of cannabis edibles were confiscated in the action, and the bakery’s owner was arrested on a drug charge. The bakery, located just a few blocks… Read more.

While people may buy more stuff online, they still like to go out and shop if stores offer them a way to engage their curiosity, a sense of adventure, and a place to gather. That’s what’s helped some retailers compete with the likes of Amazon.com AMZN, -1.71% or discounters such as Walmart Inc. WMT, -0.03%. And that’s the thinking behind tech entrepreneur Joanne Wilson’s newly-opened, state-licensed cannabis store, Gotham, located on 3 East 3rd Street just off the corner of the Bowery in downtown New… Read more.

Long Islanders may soon be able to share a joint with a fellow sports fan at the bar – or toke over trivia. Dozens of cannabis lounges may debut on Long Island under rules proposed by state regulators Thursday. Plans for pot bars were included in guidelines written to cover nearly every aspect of the recreational marijuana market, from growers to distributors to industry event organizers. Thursday was state regulators' second pass at the regulations, which run more than 300 pages. The… Read more.

Graham sees opportunity for both legacy operators and newcomers, but warns against opportunists. Social Impact: Kassia Graham, Cannaclusive Kassia Graham, a vocal advocate for diversity and equity in the cannabis industry, is using her platform to affect change. As the founder of Cannaclusive, Graham noted that the organization is “dedicated to helping to raise the profile of BIPOC in cannabis, whether they are consumers or people within the industry.” She was awarded the 2023 Green Market Report Women’s Leadership Award for… Read more.

You’ve seen cannabis dispensaries open in New York City over the past year, but you’ve never seen one quite like the one set to open in Manhattan’s East Village. Gotham is located on 3rd Street near the Bowery. The first things that catch your eyes on the shelves are not pipes and bongs. Instead, you will find everything from pillows, books, pottery, candles and even clothing. But make no mistake, you will find cannabis products there too. Joanne Wilson, the… Read more.

New York’s budget bill includes $16 million in funds to combat unlicensed cannabis dispensaries, the Buffalo News reports. The legislation, which was signed by Gov. Kathy Hochul (D) this morning, increases fines for illegal operators from $500 to up to $7,500 for the first offense and increases the monetary penalties to up to three times the amount of tax that would have been collected on the sales. The bill also gives the state authority to mandate store closures, seek restraining orders, charge… Read more.

Life’s not easy for a poodle in the Big Apple. Just ask Bondi - she’s been to the ER three times now for tripping out on the sweet cheeba. While her owner claims that it’s “accidental consumption”, one begins to wonder after the third event on just how accidental it truly is. It’s not just Bondi though - she’s part of a pack of stoned dogs roaming the streets of New York. You can see them wandering aimlessly, tongues lolling out, eyes glazed… Read more.

Terrapin signed a deal in 2021 to acquire property in Auburn. Colorado cannabis company Terrapin Care Station decided to reverse course on a previously announced production facility in the town of Auburn, New York, which a company spokesman said was due to delays in getting the broader market operational. Terrapin Care Station is a second-tier multistate operator, with a footprint in Michigan, Missouri, and Pennsylvania in addition to its home state of Colorado, according to the company website. Terrapin signed a real… Read more.

New York City celebrated its first legal 420 celebrations. There were 25 different events according to Event Brite, but we just checked out a few. Washington Square Park in the heart of Greenwich Village became the defacto festival as numerous unlicensed operators sold their wares and consumers enjoyed the lovely spring weather. Then it was on to the Standard High Line Hotel where Sackville had a pop up shop for the more well-heeled partiers. Lastly, we headed to The House… Read more.

The 4/20 brand campaigns are coming in hot, so we're keeping tabs early and updating this page often with the best and brightest. Jack in the Box Jack's Edible Assortments launches on April 20 at food trucks in Los Angeles, San Diego and San Francisco, with help from TBWA\Chiat\Day L.A. It includes a reintroduction of the Pineapple Express Shake, which includes munchies like popcorn chicken, onion rings, tiny tacos, mini pancakes, whipped cream and cherries. The first 100 food truck… Read more.

THE FIRST THING YOU SEE upon entering the Core Social Justice Cannabis Museum in Boston’s Jamaica Plain neighborhood is a digital stained glass window stamped “Cannfessional.” Behind it is a small sound booth, wrapped in cloud-print wallpaper, with a glowing neon chair and a microphone dangling from the ceiling. Facing the chair on the wall is a TV with a camera mounted on top. This is where you reveal your truth. With the Cannfessional, the museum encourages participants to record themselves telling stories… Read more.

The highly-anticipated House of Cannabis (THC NYC) is set to open in SoHo this Friday, April 7. Located at 427 Broadway, the 30,000-square-foot building houses ten transformative, immersive experiences for guests to explore. Though it does not actually sell cannabis on-site, THC NYC is the first-ever permanent installation that celebrates “high culture” as well as the impact of cannabis on social reform, fashion, music, art, and cultivation. The journey begins on the fourth floor by taking a look through High… Read more.

The Capital Region’s first adult-use cannabis dispensary is now officially open in Schenectady. Upstate Canna Co is located on Union Street.Dozens of people lined up to try several different products.The state has made many promises to advance New York’s goals of equity in cannabis licensing.All of the cannabis at the store was grown and tested in New York State. Upstate Canna Co is open seven days a week. (Full Story) Read more.

A New York Appeals Court judge on Tuesday narrowed the preliminary injunction on the state’s conditional adult-use retail dispensary (CAURD) plan to only include the state’s Finger Lakes region. The lawsuit, by Michigan-based Variscite NY One, had affected 63 of the 150 licenses set to be awarded to social equity applicants and prohibited licenses from being granted in the region along with Brooklyn, Central New York, the Mid-Hudson Area, and Western New York.    The decision by Judge Gary L. Sharpe will allow the state to… Read more.

When New York regulators announced plans to double recreational marijuana retail licenses to 300 for social equity applicants, local cannabis operators and other industry advocates applauded the news. But behind the scenes, concerns were mounting over the challenge of finding affordable cannabis real estate across large parts of the state because of zoning and commercial restrictions. About half of New York’s 1,520 municipalities have opted out of adult-use retail, according to the Rockefeller Institute of Government, a public policy think tank based in Albany.… Read more.

A group that includes some of New York’s medical cannabis companies is suing the state over its plan to issue adult-use retail cannabis licenses to social equity applicants before opening applications to all businesses, Syracuse.com reports. The complaint alleges unconstitutional overreach and policymaking, egregious abdication of duties, and actions that put citizens’ health and safety at risk.  The lawsuit was filed by the Coalition for Access to Regulated & Safe Cannabis which describes itself as “an unincorporated trade association.” The group includes Acreage… Read more.

Illicit operators in New York are expected to capture $7.2 billion in untaxed revenue by 2030, according to a new report prepared by MPG Consulting for Acreage Holdings. In the New York Illicit Cannabis Market Absorption Analysis, MPG’s consultants outline the potential loss of 20,600 industry jobs and more than $2.6 billion in tax revenue over the next eight years if state regulators are unable to adequately address illicit market absorption. As the fourth-largest state by population with approximately 15 million adult residents,… Read more.

Multistate operators with New York medical cannabis licenses sued regulators on Thursday in an attempt to gain quick entry into the state’s adult-use marijuana market. The MSOs are currently shut out from New York’s legal recreational market. In a lawsuit filed in state Supreme Court in Albany, the Coalition for Access to Regulated and Safe Cannabis (CARSC) alleges that the Office of Cannabis Management and the Cannabis Control Board violated New York’s 2021 legalization law – the Marijuana Regulation and Taxation Act… Read more.

In assistant professor Monty Vacura’s course, students grow, harvest, dry, cure and even sell cannabis plants. This may sound like textbook drug dealing, but it’s actually a three-credit course in SUNY Orange’s biology department. “The class is a balance between workforce development and then the academic education side,” Vacura said. “I mean, basically, it feels like I’ve built a business.” SUNY Orange, in Middletown, launched the Horticultural Cannabis class last year. Students must take general horticulture as a prerequisite, but the… Read more.

NY Cannabis Insider bought the eight highest-potency strains of legal recreational cannabis available in New York State on Feb. 24, drove them straight to a state-certified laboratory, placed them in anonymized Ziploc bags and submitted them for potency testing. What came back has kicked open a hornet’s nest within the NY cannabis ecosystem and led to a regulatory policy change within the past 24 hours that affects every cannabis grower, processor and consumer in the state. That’s because our lab results, which… Read more.

New York is doubling the number of adult-use cannabis dispensary licenses in the state from 150 to 300, according to a Spectrum News report. The state Office of Cannabis Management (OCM) has so far received about 900 dispensary licenses and has issued 66 provisional licenses.  The expansion comes amidst a lawsuit by a Michigan-based cannabis company that has delayed the awarding of licenses in Brooklyn, Central New York, the Finger Lakes, the Mid-Hudson Area, and Western New York.   In a statement, Tremaine Wright, chair… Read more.

ALBANY, N.Y. (WENY) - New York State will be doubling the amount of available conditional adult-use retail cannabis dispensaries. The state said they originally planned to issue 150 licenses, but will now increase that figure to 300. The program's expansion will further advance New York State's Seeding Opportunity Initiative. The initiative gives those that were previously in jail for cannabis an opportunity to run a dispensary. In the southern tier, the number licenses will go to six, up from three. There… Read more.