A New York Minute

Big Apple canna is finally getting baked.

Daily Recap

New York will finally open it’s adult-use cannabis market to all businesses, including large multistate operators and medical cannabis companies starting next month.

The new shops are expected to be open by year-end and if they are, we’ll finally have some kind, tested products available in—or at least closer to—my stomping grounds.

Insofar as most New Yorkers already think the corner bodega is the legal framework, the transition from the illicit market will take a minute. We’ll dig into the new rules below to find out what it means for the many denizens of the Empire State.

Bipartisan lawmakers have already called on Gov. Kathy Hochul to sign a ‘Cannabis Crop Rescue Act’ given that a quarter-million pounds have been left to rot. It’ll be tough without distribution at scale but at least the space is no longer stuck in traffic.

[nine out of ten illicit grows test for nasty pesticides + knock-off vapes often contain chemicals and emulsification agents that are literal poison; legal is where it’s at]

Zooming Out

Curaleaf Chairman Boris Jordan spoke with Mayor Toby on Twitter X last night about global cannabis markets, the likelihood/ impact of Schedule III and his latest take on SAFE Banking. Give BoJo a listen if you haven’t done so yet and given we live in such an A.D.D-immediate gratification society, we transcribed it for you too.

In other news, the HHS recco to reclassify cannabis to Schedule III is a Bellwether for the Future of Cannabis-ness and surprised almost everyone; a bill to allow Amsterdam-style cannabis cafes in California is heading to the governor's desk; the Cali AG is targeting the online sales of hemp synthesized delta-9 inhalable products; as lawyers negotiate, Alabama’s Medical Cannabis Commission Director is optimistic that the program can soon move forward and Canadian medical cannabis registrations are at the lowest level since legalization.

We take a nuanced look at the price action, measure the short people, eyeball several levels of lore, discuss what might be coming next, debunk the notion that canna users are lazy, sniff out some toking tailgates and revisit the science behind the ECS.

All that, and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ MSOS 0.00%↑ MSOX 0.00%↑ PT Notional: $154M

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