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Vital City | The Real Reason the Weed Market is Broken

vitalcitynyc.org · 1,953 words · saved by 1 readers

It’s not too late to save the legal weed system in New York. Better said, it’s not too late to create a legal weed system in New York, because the state doesn’t have one yet. Two-and-a-half years after the state Legislature passed the Marijuana Regulation and Taxation Act (MRTA) in March 2021, only a tiny fraction of the weed that’s currently being bought and consumed in the state — maybe 2% to 4% by volume — comes from state-licensed, state-regulated weed stores. The rest is unlicensed, unregulated, untaxed weed sold illegally by neighborhood stores, delivery services and street dealers. The rollout has been widely called a failure. This can’t be anything like what the legislators or regulators hoped for. The first reason for legal weed’s tiny market share is simple: There’s almost nowhere to buy it legally. As of the end of November 2023, there were only 20 legal recreational weed storefronts open in the entire state, or about 2 per million residents. Oregon, by comparison, has 165 l

Licensed cannabis retailers can’t compete on price — and crackdowns won’t change that. Only a tiny fraction of the weed that's currently being bought and consumed in the state — maybe 2% to 4% by volume — comes from state-licensed, state-regulated weed stores. It's not too late to save the legal weed system in New York. Better said, it's not too late to create a legal weed system in New York, because the state doesn't have one yet. Two-and-a-half years after the state Legislature passed the Marijuana Regulation and Taxation Act (MRTA) in March 2021, only a tiny fraction of the weed that's curr

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