The New York state Cannabis Control Board (CCB) has voted to authorize the Office of Cannabis Management (OCM) to settle a federal lawsuit that has been impeding the establishment of retail dispensaries in several regions of the state.
This lawsuit, filed by cannabis retailer Variscite NY One after the state denied its application for one of the first 150 recreational marijuana shop licenses, has stalled the issuance of new retail licenses for about seven months.
This delay has significantly slowed down the industry’s growth in the Finger Lakes, Central New York, Western New York, the Mid-Hudson region, and Brooklyn.
While the details of the settlement are still under discussion, this step is expected to remove a key obstacle that has been straining cannabis-related businesses in the state.
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