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Cannabis Sales in New York Could Exceed $1B This Year Despite Rocky Market Launch

Marijuana retailers in the state of New York raked in more than $429 million in revenue between January and August of this year. Just last month, sales made each week exceeded $20 million for the first time ever. New York made marijuana legal in March 31, 2021, following the approval of the Marijuana Regulation and Taxation Act. However, the state’s first sales were recorded in December 2022.

The Office of Cannabis Management’s deputy director of policy, John Kagia, stated that while some momentum had been lost in…

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