New York receives more than 900 applications to operate adult-use marijuana dispensaries

New York highway sign with marijuana leaf

Rex_Wholster

  • The New York State Office of Cannabis Management (OCM) received 903 applications to operate adult-use marijuana dispensaries around the state.
  • For this initial round of applications, the state allowed only those who were previously harmed by the drug war to apply.
  • New York began accepting the applications back in August.
  • Up to 150 licenses will be granted by the OCM out of the 903 applications submitted. They will be the first dispensaries to open for adult sales, sometime in 2023.
  • New York will eventually expand the application pool to those without any ties to the drug war.
  • "Together, we look forward to building the nation's most equitable and diverse cannabis market," OCM said on Twitter.
  • Multi-state operators: Cresco Labs (OTCQX:CRLBF); Columbia Care (OTCQX:CCHWF); Trulieve Cannabis (OTCQX:TCNNF); Green Thumb Industries (OTCQX:GTBIF); Curaleaf Holdings (OTCPK:CURLF); MedMen Enterprises (OTCQB:MMNFF); Acreage Holdings (OTCQX:ACRHF); Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF); and Jushi Holdings (OTCQX:JUSHF).
  • Cannabis-related ETFs: AdvisorShares Pure Cannabis ETF (YOLO), Amplify Seymour Cannabis ETF (CNBS), ETFMG Alternative Harvest ETF (NYSEARCA:MJ), AdvisorShares Pure US Cannabis ETF (MSOS), and Global X Cannabis ETF (POTX).
  • New York approved the first 15 adult-use cannabis processor licenses in August.

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