Governor Kathy Hochul marked the five-year anniversary of the Marihuana Regulation and Taxation Act on Mar. 27, highlighting the growth and development of New York’s legal cannabis industry. Since adult-use sales began, retail cannabis sales have reached $3.3 billion, with more than 600 licensed dispensaries now operating across the state.
The milestone is significant as it reflects efforts to create an equitable and regulated market while addressing past injustices related to marijuana enforcement. The establishment of the Office of Cannabis Management and ongoing support for social equity initiatives are central to these goals.
“Five years ago, New York committed to building a cannabis market rooted in equity, safety, and opportunity and today, that commitment is delivering real results,” Governor Hochul said. “We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market. Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way.”
John Kagia, Acting Executive Director of the Office of Cannabis Management, said: “New York’s cannabis market is demonstrating that growth and equity are not mutually exclusive. 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.”
Key achievements include issuing over 2,161 adult-use licenses statewide—56 percent awarded to Social and Economic Equity applicants—and approving 342 Conditional Adult-Use Retail Dispensary licensees. Women-owned businesses received 57 percent of these equity licenses; minority-owned businesses received 51 percent.
On criminal justice reform measures under the act: more than 400,000 marijuana-related convictions are eligible for expungement; over 200,000 convictions have been sealed; no individual remains incarcerated solely for marijuana offenses; $10 million has been reinvested into communities through grants supporting youth development and public health initiatives.
Enforcement actions continue against illegal operations with over $20 million in illicit products seized during more than two thousand enforcement actions last year alone.
Pure Blossoms owner Mike Rodriguez said opening his dispensary on Manhattan’s Upper West Side was about giving back: “I want the kids who grow up on this block to see someone who looks like them…building something real and doing it the right way.”
State Senator Erik Bottcher praised progress supporting responsible operators while Assembly Majority Leader Crystal Peoples-Stokes reaffirmed her commitment to restorative justice principles within legalization efforts. Manhattan Borough President Brad Hoylman-Sigal called New York’s approach “a cannabis market rooted in equity.”