New York Lawmakers Take On The Cannabis Gray Market To Protect The State’s $4.2 Billion Industry
Technically speaking, New York’s cannabis regulators consider any person or business selling, gifting or exchanging cannabis as unlicensed and illegal. The state is now actively trying to snuff out the gray market operators because they view it as a threat to the legal industry that should be up and running by the beginning of 2023.
There is also a lot at stake: New York is projected to become the nation’s second-largest legal cannabis market after California with an estimated $4.2 billion market within five years.