New York regulators approved 68 adult-use cannabis licenses, but more than 3,000 applications filed a year ago are still pending.
That’s partially because regulators want to avoid flooding the market as state-regulated recreational cannabis sales approach the $1 billion mark, Felicia Reid, the Office of Cannabis Management’s acting executive director, told Spectrum News 1.
During Tuesday’s Cannabis Control Board (CCB) meeting, the last of the year, regulators issued:
- 2 cultivator licenses.
- 21 distributor licenses.
- 6 microbusiness licenses, which allow holders to cultivate, process and sell cannabis.
- 24 processor licenses.
- 15 retail licenses.
