Nearly 70 More Adult-Use Cannabis Business Licenses Issued in New York, But Thousands Still Pending

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.