New York Governor Marks Five-Year Anniversary Of Marijuana Legalization, With Over $3.3 Billion In Sales And 610 Licensed Retailers

The governor of New York is marking the five-year anniversary of adult-use marijuana legalization in the state, touting $3.3 billion in retail sales, the opening of more than 600 licensed cannabis shops and achievements in promoting social equity in the industry while taking steps to mitigate the illicit market.

In a press release on Friday, Gov. Kathy Hochul (D) said “New York committed to building a cannabis market rooted in equity, safety, and opportunity” when the state enacted the Marihuana Regulation and Taxation Act five years ago.

“We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market,” the governor, who has helped lead the implementation of the cannabis reform and celebrated its milestones along the way, said. “Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way.”

In addition to seeing $3.3 billion in recreational marijuana sales over the past half-decade, New York officials have also licensed 2,161 cannabis businesses across the supply chain, including 610 retailers that are now operational. The 600th marijuana shop, Pure Blossoms, recently opened its doors in Manhattan.

“New York’s cannabis market is demonstrating that growth and equity are not mutually exclusive,” Office of Cannabis Management (OCM) Acting Executive Director John Kagia said. “With more than $3 billion in sales, a majority of licenses held by Social and Economic Equity applicants, and a rapidly expanding retail footprint, the State is building a market that is both economically viable and intentionally inclusive.”

“These outcomes reflect a deliberate approach to ensuring long-term stability, accountability, and opportunity across the industry as we continue to strengthen the market and expand access in the years ahead,” he said.

All told, more than half (56 percent) of adult-use marijuana licensees have go to Social and Economic Equity (SEE) applicants, which surpasses the state’s statutory goal. Those SEE licensees include 57 percent that have gone to women-owned businesses and 51 percent to minority-owned businesses.

Also with respect to equity achievements, the state is promoting the fact that more than 400,000 cannabis-related convictions are been deemed eligible for expungement, and over 200,000 have already been sealed. Another 107,000 cases have been “suppressed pending sealing,” and nobody is currently incarcerated in state prison for a marijuana-related offense alone, the governor’s release says.

Further, the state has distributed $5 million in funding for community reinvestment through a fund supported by marijuana tax dollars, and another $5 million is currently available in the fund that aims to promote youth development, workforce training, housing opportunities and public health projects for people in areas disproportionately impacted by criminalization.

The MRTA “centered on equity, economic opportunity and restorative justice,” Assembly Majority Leader Crystal Peoples-Stokes (D), who a key champion of adult-use legalization in the state, said. “These core principles remain my priority as the legal cannabis market continues to mature.”

“We, as legislators, and leaders in the state, have a duty to take steps to correct the harm that was done by the War on Drugs. As the adult-use cannabis market in New York State continues to grow, we must not lose sight of the equity tenants of MRTA,” she said. “New York State’s cannabis market is setting the standard that the rest of the country should follow and I am immensely proud of that.”

Sen. Erik Bottcher (D) said that, five years into the state’s legalization experience, “we’re seeing small businesses and entrepreneurs finding their footing as well as and investments that are reaching communities that were disproportionately impacted in the past.”

“The opening of new, licensed dispensaries and the shutdown of illegal dispensaries reflects that forward momentum,” he said. “Thank you to Governor Hochul for ensuring that as the industry continues to grow we remain focused on supporting responsible operators and customers alike.”

In January, meanwhile, New York officials released a set of reports providing a 2025 end-of-year status update on the evolution of the state’s medical and adult-use marijuana markets—touting record sales, revenue hauls for state coffers, licensing approvals, equity initiatives and more.

The OCM annual report also notes that Hochul signed legislation into law that expands the state’s medical cannabis program by improving patient access and “updating the program framework to better meet patient needs statewide.”

— Marijuana Moment is tracking hundreds of cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments. Learn more about our marijuana bill tracker and become a supporter on Patreon to get access. —

Meanwhile, New York senators recently approved a bill related to reciprocity for out-of-state medical marijuana patients and the availability of pre-rolled joints in the medical cannabis market—even though the state has already enacted those reforms separately.

Last month, the sponsor of the bill separately introduced legislation that would allow New York liquor and wine stores to obtain a permit to sell low-dose cannabis-infused drinks at their businesses.

Also, the governor of New York last month signed legislation into law that revises zoning requirements for licensed marijuana businesses, granting more flexibility to retailers located within certain distances of schools and places of worship.

In January, New York officials released a set of reports providing a 2025 end-of-year status update on the evolution of the state’s medical and adult-use marijuana markets—touting record sales, revenue hauls for state coffers, licensing approvals, equity initiatives and more.

Also, the governor of New York last month signed legislation into law that revises zoning requirements for licensed marijuana businesses, granting more flexibility to retailers located within certain distances of schools and places of worship.

Photo courtesy of Philip Steffan.