Cannabis in New York City: Updates on Legalization and London!!

As of March 31, 2021, cannabis is legal for adult use in New York State, making it the 15th state to legalize recreational marijuana. This is big news for New York City, which has historically been at the forefront of marijuana culture and has long been a hub for the black market cannabis trade. In this blog post, we'll explore the latest updates on cannabis legalization in New York City and what it means for the city.

The legalization of cannabis in New York State has been a long time coming. In 2019, Governor Andrew Cuomo signed a law that decriminalized possession of small amounts of marijuana and expunged the records of those convicted of low-level marijuana offenses. Then, in 2021, the Governor signed a bill that legalized cannabis for adult use, making New York the latest state to embrace recreational marijuana.

Under the new law, individuals over the age of 21 will be allowed to possess up to three ounces of cannabis and grow up to three mature plants for personal use. The law also allows for the creation of a regulated cannabis industry in New York State, which is expected to generate billions of dollars in tax revenue and create thousands of new jobs.

The legalization of cannabis in New York City is expected to have a significant impact on the city. For one, it will create a new industry, with entrepreneurs and investors looking to capitalize on the growing demand for legal cannabis products. This could create new jobs and stimulate economic growth in neighborhoods that have been historically marginalized.

In addition, the new law will have an impact on law enforcement in the city. Prior to legalization, Black and Latino residents were disproportionately targeted by the NYPD for marijuana-related offenses, despite similar usage rates among all races. With the new law, individuals with previous low-level marijuana convictions will have their records expunged, and law enforcement will no longer be able to use cannabis possession as a pretext for other charges.

However, there are still challenges ahead. For one, there are concerns about the racial and economic equity of the cannabis industry. Many advocates have pushed for policies that prioritize equity and inclusion, such as allocating licenses for cannabis businesses to communities that have been most impacted by the War on Drugs and providing training and resources to minority entrepreneurs.

In conclusion, the legalization of cannabis in New York City is a significant milestone for the city and the state. It will create new economic opportunities and improve the lives of many New Yorkers who have been unfairly impacted by the criminalization of marijuana. However, there are still challenges ahead, and it will be important for policymakers to continue to prioritize equity and inclusion in the new legal cannabis industry.

The countdown to Cannabis Europa London has begun. We're excited to see Cannabis Europa London in the upcoming weeks, alongside other influential leaders, investors, policy makers, pioneers and leading cannabis industry executives from over 40 countries. Together, we'll shape the future of the cannabis industry.

Happy early 4/20!