In this episode, we sit down with leading cannabis attorney Jeff Schultz, Partner at Foley Hoag, to unpack the real story on New York's adult-use market—what’s working, what’s broken, and where the industry goes from here.
We cover:
🔹 The Good:
- New York’s adult-use cannabis market is scaling fast—projected to hit $1.5–- $2B+ in 2026, up from just $300M in 2023.
- National brands like Kiva, STIIIZY, Wyld, and Heavy Hitters are thriving.
- Margins look strong
🔸 The Bad:
- Limited retail outlets, but this is changing quickly
- Licensing gridlock: Conditional licensees remain stuck due to zoning, financing, and OCM hurdles.
- High taxes: Effective rates reach up to 41%, depending on product type.
🔻 The Ugly:
- The illicit market still dominates, with thousands of unlicensed shops in NYC.
- Political and legal chaos: Lawsuits, infighting, and regulatory dysfunction are shaking investor confidence.
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