The key details every cannabis investor needs to know about New York marijuana legalizationPosted by On


cannabis(Ryan Lange/Unsplash)

(Business Insider) — New York just legalized marijuana for adults over the age of 21.

The state Senate and Assembly passed the bill late on Tuesday, and Gov. Andrew Cuomo signed the bill into law on Wednesday morning. New York is now the latest state to legalize cannabis, following in the footsteps of its neighbor New Jersey.

It’s the third time state legislators have tried to legalize marijuana, though hang-ups over taxation, impaired driving, and social-equity provisions prevented earlier iterations from passing. Medical cannabis is already legal in New York.

Though New Yorkers aged 21 and over are now legally allowed to possess and smoke cannabis, adult-use cannabis sales won’t begin anytime soon.

Andrew Carter, an analyst at Stifel, said he expects recreational cannabis sales to begin in late 2022. Analysts from Cantor Fitzgerald and Stifel estimated that New York could become a $5 billion cannabis market by 2025.

Here’s what you need to know about the law and how to investStocks to buy

Right now, there are 10 medical-cannabis licenses in New York. Legalization gives some benefits to companies that already operate in the state.

Of those 10 licenses, five are owned by publicly traded cannabis companies with either strong recent financial performance or deep-pocketed backers: Cresco Labs, Acreage, Columbia Care, Curaleaf, and Green Thumb Industries.

Pablo Zuanic, an analyst at Cantor Fitzgerald, said in a…

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cannabis(Ryan Lange/Unsplash)

(Business Insider) — New York just legalized marijuana for adults over the age of 21.

The state Senate and Assembly passed the bill late on Tuesday, and Gov. Andrew Cuomo signed the bill into law on Wednesday morning. New York is now the latest state to legalize cannabis, following in the footsteps of its neighbor New Jersey.

It’s the third time state legislators have tried to legalize marijuana, though hang-ups over taxation, impaired driving, and social-equity provisions prevented earlier iterations from passing. Medical cannabis is already legal in New York.

Though New Yorkers aged 21 and over are now legally allowed to possess and smoke cannabis, adult-use cannabis sales won’t begin anytime soon.

Andrew Carter, an analyst at Stifel, said he expects recreational cannabis sales to begin in late 2022. Analysts from Cantor Fitzgerald and Stifel estimated that New York could become a $5 billion cannabis market by 2025.

Here’s what you need to know about the law and how to investStocks to buy

Right now, there are 10 medical-cannabis licenses in New York. Legalization gives some benefits to companies that already operate in the state.

Of those 10 licenses, five are owned by publicly traded cannabis companies with either strong recent financial performance or deep-pocketed backers: Cresco Labs, Acreage, Columbia Care, Curaleaf, and Green Thumb Industries.

Pablo Zuanic, an analyst at Cantor Fitzgerald, said in a…



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