New York's legal cannabis industry faces significant challenges with supply chains inverted, resulting in illicit operators controlling the market. Licensed growers are unable to sell their produce legitimately, with estimates showing that up to 85% of cannabis sales occur outside the law. This inversion stems from premature cultivation policies that did not prioritize the establishment of strong retail outlets. The article highlights the need for scaling legal operations, reducing barriers for compliant businesses, and incentivizing ethical consumption to restore balance and stability in the market.
At the heart of New York's cannabis crisis is the lack of a fully developed legal supply chain. Farmers were given licenses and encouraged to grow before dispensaries were operational.
The solution? Scaling legal operations, reducing barriers for licensed businesses, and creating incentives for ethical consumption. Addressing these structural issues can finally bring stability to the industry.
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