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Cannabis sales pass $1 Billion in NY state

Cannabis, commonly known as marijuana, is displayed in a shop in Cherokee, N.C., on Nov. 2. On Election Day, legalizing the recreational use of cannabis is on the ballot in three states.
Yasuyoshi Chiba
/
AFP via Getty Images
Cannabis, commonly known as marijuana, is displayed in a shop in Cherokee, N.C., on Nov. 2. On Election Day, legalizing the recreational use of cannabis is on the ballot in three states.

The recreational marijuana market in New York state is thriving.

The legal industry has surpassed one billion dollars in cannabis related sales. Right now there are more than five thousand licenses, permits, and registrations issued or approved to date. Governor Kathy Hochul says more than half of the licenses have been awarded to social and economic equity applicants and there's a lot of minority and women owned businesses. There are around 275 licenses dispensaries in the state.