Boris Jordan, CEO of Curaleaf, criticizes New York Governor Kathy Hochul and state regulators for allegedly undermining legal cannabis businesses. He claims the state is targeting existing medical dispensaries by enforcing stringent regulations, raising conversion costs for adult-use sales, and failing to address illegal marijuana imports. As a result, many licensed firms are reconsidering market participation. Jordan emphasizes that New York's actions contradict its initial requests for business investments and undermine established operators facing unfair competition from illicit sellers who bypass state cultivation laws.
New York is directly targeting and hurting our business. They asked us to invest, and now they want to destroy us. It's not the country I grew up in.
New York's cannabis regulators are hell-bent on destroying our businesses by making it more difficult for licensed firms to access the adult-use market.
Six of the 10 original, licensed medical marijuana firms in the state have opted not to enter the regular adult use market due to the excessive costs.
Some farmers and sellers circumvent the law by using cheaper out-of-state seeds and weed, complicating the competition for law-abiding operators.
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