New York Legal Cannabis Sales Could Pass $1bn This Year, According to Regulator

After the rockiest of starts, the regulated marijuana market is finally coming to life in New York state.

Cannabis retailers reported $429.9 million in revenue from January through the end of August, a month that saw weekly sales surpass $20 million for the first time.

At this pace – and with an estimated 200 licensed retailers ready to open for business by the end of September – finishing 2024 with more than $1 billion in regulated marijuana sales is “within the realm of plausibility,” a top cannabis regulator told MJBizDaily last week.

“Obviously, we lost some momentum last year,” John Kagia, the state Office of Cannabis Management’s deputy director of policy, told MJBizDaily in an interview Thursday.