Medicinal cannabis industry says more work needed to address illegal sales

The medicinal cannabis industry in New York is worried the state's efforts to address illicit marijuana sales won't go far enough in addressing the ongoing problem in the state.New York lawmakers and Gov. Kathy Hochul in the newly approved $229 billion state budget agreed to new penalties for businesses that sell cannabis without a license, including civil fines and potentially closing stores that are selling illegally.But the Coalition for Access to Regulated & Safe Cannabis, a trade organization that represents medical cannabis operators, faulted state officials for allowing the illicit marketplace to flourish and creating an unfair degree of competition."As a result, New York collected a paltry $1.1 million in cannabis tax revenue between January and March of this year, shortchanging communities disproportionately impacted by the War on Drugs who are, by law, to benefit from adult-use legalization," said the Rev. John Foy on behalf of the group.Foy pointed to the cannabis marketplace in New Jersey by contrast leading to the collection of $4.6 million in tax revenue in the first 10 weeks of being launched in 2022.Meanwhile, the unregulated, untested, and potentially contaminated cannabis products sold by unlicensed operators is putting consumers – including our children – unnecessarily at risk," Foy said.To read the the full story, click here