New York’s cannabis industry is gaining momentum with another 74 adult-use licenses approved, signaling progress for applicants who have been waiting since last year. State regulators say they’re closing in on finalizing reviews from the November 2023 application pool, though thousands more from December are still in limbo.
New Approvals Boost New York’s Expanding Cannabis Market
The state Cannabis Control Board’s latest move brings the total number of licensed cannabis businesses in New York to 1,510. But having a license doesn’t mean a shop is open—only 307 dispensaries are currently operational, according to the Office of Cannabis Management (OCM).
Here’s how the latest batch of 74 licenses breaks down:
- 6 distributor licenses
- 10 microbusiness licenses
- 39 processor licenses
- 16 retailer licenses
- 3 Conditional Adult-Use Retail Dispensary (CAURD) final approvals
These additions should help stabilize New York’s legal market, which has faced an uphill battle against unlicensed dispensaries and regulatory delays.
2023 Applicants Still Waiting, But Progress Is Evident
For those who applied for a cannabis license in November 2023, there’s finally some clarity. The OCM announced that only about 150 applications remain under review. That’s a significant step forward, given the earlier estimate that reviews wouldn’t wrap up until early 2025.
However, not all applicants are seeing movement. Thousands who applied in December 2023 are still waiting for updates. The review process hit a temporary snag late last year when a judge paused it, adding more uncertainty to an already sluggish system.
The Legal Battle That Stalled New York’s Licensing
New York’s Conditional Adult-Use Retail Dispensary (CAURD) program, designed to prioritize individuals affected by past cannabis convictions, ran into legal trouble last year. Lawsuits challenging the program caused a yearlong delay, preventing many from launching their businesses.
Two major lawsuits were settled in 2023, allowing the state to resume issuing licenses. Regulators then opened applications for various license types in two phases:
- November 2023 applicants – nearing completion
- December 2023 applicants – still under review
The backlog, particularly for the December applicants, remains a major issue. Even as the state tries to speed up processing, those in the cannabis industry remain frustrated with the slow rollout.
What’s Next for New York’s Cannabis Industry?
New York’s legal cannabis market is still in its infancy, but it’s growing—albeit at a slow and uneven pace. While new licenses are being granted, many licensed businesses have yet to open due to financial, regulatory, or legal barriers.
As more applications get processed and additional shops open, the competition with New York’s thriving unlicensed market will become even more crucial. The state has cracked down on illegal dispensaries, but enforcement remains a challenge.
With only 307 legal dispensaries open statewide, many are asking: Will these new licenses make a real dent in New York’s cannabis landscape?
The answer depends on how quickly these businesses can get up and running—and whether regulators can finally clear the backlog that’s kept so many waiting.