I am the founder of Gotham, a legal cannabis concept store. I emphasize the word legal because, despite what most New Yorkers probably think, there are currently only seven legal cannabis dispensaries in all of New York City. The thousands of other shops you see on almost every corner are unlicensed, unregulated, and illegal.
New York State had good intentions when they rolled out the first opportunities to apply for a legal dispensary license last November. The first licenses were made available only to those formerly incarcerated for cannabis offenses and to nonprofit organizations that support and uplift this cohort. The idea was to create a cannabis industry that attempts to right the wrongs of the failed war on drugs.
I applaud the state for these efforts. Bu that vision is far from reality. Hundreds of licenses have been issued, but few stores have actually open. It is not easy to get a lease due to stigma or insurance concerns, and adhering to rules and regulations is costly.
The biggest issue for those who have opened, such as Gotham, is attempting to compete in an oversaturated illegal landscape.
The latest estimates from Governor Hochul put the illegal cannabis market in New York at over 2,500 stores, many of which…
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