Search Engine Why are there so many illegal weed stores in New York City? (Part 2)
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Apr 5, 2024 Discover the complexities of New York's cannabis legalization journey, from the rise of illegal weed stores to personal stories of residents. The Cannabis Control Board's meetings reveal tensions and urgent challenges in establishing a regulated market. Hear about entrepreneurs facing bureaucratic hurdles and the chaos of urgent license approvals amid ongoing illegal sales. Amidst the struggle for equity, the discussion of reparations introduces a unique angle to cannabis regulation in the city. It's a fascinating glimpse into a rapidly evolving industry!
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Alex Norman's Background
- Alex Norman, a Bed-Stuy resident, ran a successful weed delivery service during prohibition and worked on Wall Street.
- He was an ideal candidate to succeed in New York's newly legal cannabis market.
NY's Reparations Approach
- New York's Marijuana Regulation and Taxation Act aimed to give 50% of licenses to equity applicants, including those with past arrests.
- This plan, considered by some as reparations, aimed to reinvest tax revenue into over-policed communities.
Rise of Illegal Shops
- Nine months after the first board meeting, illegal weed shops proliferated in NYC, operating openly and selling unregulated cannabis.
- This was not the intended outcome of the state's legalization plan.