GTBIF - EXCLUSIVE: NY Cannabis Market Optimism Prevails Despite 'Absurd' Taxes Illegal Operators Lawsuits | Benzinga
Ever since the launch of the legal cannabis market in New York last year, the industry has been dealing with one setback after another. In March, the Coalition for Access to Regulated and Safe Cannabis (CARSC) filed a lawsuit against the OCM for allegedly violating MRTA by reserving the first 150 retail licenses for social equity applicants.
The group involved in the lawsuit includes at least four large marijuana companies, Acreage Holdings
(OTCQX: ACRHF), Curaleaf Holdings (OTCQX: CURLF), Green Thumb Industries (OTCQX: GTBIF) and PharmaCann. Since March the lawsuits have piled up.
Additionally, the market has been struggling with too many illegal operators and an extremely slow rollout of retail licenses. So what's next?
How can the New York marijuana market stabilize and become the third-largest national and the fifth-largest market in the world, inquired Todd Polyniak, senior partner and head of cannabis practice at Sax LLP, and moderator at Benzinga Cannabis Capital Conference.
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