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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CARD Program Legality
- Jeff Schultz believed the CARD program was illegal because it prioritized certain applicants, contradicting the MRTA's requirement for simultaneous applications.
- This subtle detail had significant implications, leading to lawsuits.
Bodega's Challenges
- Alex Norman partnered with Louis Colon, who became deeply involved in understanding cannabis regulations through board meeting videos.
- They faced challenges finding a suitable location due to restrictions on proximity to schools, churches, and federally mortgaged buildings.
Social Equity Fund
- DASNY's $200 million social equity fund, intended to support licensees, struggled to attract private investment due to perceived risks.
- Investors questioned the experience of licensees and the intense competition from the illegal market.