CANNABIS CULTURE – New York State is a world market in cannabis, and many who are close to the established industry are trying to determine how legalization will affect them. who will get rich and who will be left behind.
David Holland, Executive Director of Empire State NORML says there has been infrastructure and a supply chain set up in New York, specifically New York City. For decades, whole communities have revolved around this industry that includes NYC-based delivery services, Syracuse growers, Buffalo-based Rick Simpson Oil producers, and many more. “It’s got its own rules to conduct. It’s got handshake agreements. It’s got whole credit systems where people may front loans to people who get backed. It has a very sophisticated market structure.”
It will not be an easy path for legacy companies according to Holland. Many will have to come up with their own five-year plan and may not be part of the first-year pooling of applicants. “There are extreme punitive measures that can be taken by the state once you start dipping into their revenue.”
Before New Jersey legalized gambling in casinos, illegal betting was widely accepted with minimal punishment. Hollands says the minute that they legalized state