How the Climate for Legalized Marijuana is Changing in New York

Yet investors remain shy when it comes to committing to the marijuana industry in New York. The disinclination stems from a variety of sources: remaining prohibitions at the federal level, continued social stigma, and the very narrow confines of legal medical marijuana production in New York that make financial gain untenable. Currently, the state requires vertical integration, meaning each company must grow, manufacture, lab test and dispense the product, which is difficult and costly for smaller investors. Only 5 licenses have been issued for medical marijuana sales, each allowing for five dispensaries, with the grand total coming to only 25 sale locations. Ingestible and concentrated products remain the only legal options, which smoking outlawed even for medical use. Conditions to qualify for a medical marijuana card in New York are similarly restrictive, making the product available only to patients with a small range of permitted diagnoses.