The New York State marijuana industry regulations were released in a draft on Sunday. Medical marijuana companies learned of a strict set of rules they may be forced to follow.
There are currently ten existing medical marijuana companies in New York State, according to the Times Union. These companies may soon need to spend up to $5 million dollars if they want to sell recreationally. They may also need to wait an additional three years before they can open a retail location.
The draft shared over the weekend was 282 pages long and detailed licensing categories. It also detailed how growing and selling will work. The draft of rules will be reviewed by the Cannabis Control Board on Monday. If approved the regulations will be open for comment for 60 days.
One of the ways the regulations works is to essentially create more hurdles for the giant medical companies. This will stop them from being the ones who kick off recreational retail sales in the state, which has happened in numerous other states.
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