NEW YORK, NY (March 27, 2026) — Governor Kathy Hochul today celebrated the five-year anniversary of the Marihuana Regulation and Taxation Act, noting New York’s $3.3 billion in cannabis sales and the licensing of over 600 dispensaries. The governor emphasized the state’s commitment to building a cannabis market rooted in equity, safety, and opportunity.
“Five years ago, New York committed to building a cannabis market rooted in equity, safety, and opportunity and today, that commitment is delivering real results,” Governor Hochul said. “We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market. Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way.”
Advancements in Equity
The state has issued 2,161 adult-use cannabis licenses, with 56% awarded to Social and Economic Equity applicants. Additionally, 57% of licenses have gone to women-owned businesses, and 51% to minority-owned enterprises. The state continues to invest in social equity initiatives, including a $17 million investment announced by Governor Hochul.
Market Growth
New York’s cannabis industry is thriving, with 610 licensed retail dispensaries currently operating. The market has demonstrated strong consumer participation, generating significant retail sales since its launch.
Justice and Reform
The Marihuana Regulation and Taxation Act has contributed to criminal justice reform, with more than 400,000 marijuana-related convictions eligible for expungement. Over 200,000 convictions have been sealed, and significant reinvestment has been made into communities disproportionately impacted by past cannabis enforcement.
This article was prepared with the assistance of AI tools under the direction and editing of Robert Cox.
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