New York Governor Kathy Hochul announced that New York’s regulated adult-use cannabis market has surpassed $4.1 billion in retail sales since adult-use sales began in December 2022.
She said New York currently ranks third in adult use retail sales nationally.
“When New York legalized adult-use cannabis, we made a promise to build an industry that is safe, fair and creates real opportunity for the communities hit hardest by decades of failed drug policies. Topping $4 billion in sales shows that promise is a reality,” said Hochul in a statement. “Hundreds of licensed dispensaries are now open across the state, most licenses have gone to equity entrepreneurs, and cannabis revenue is going back to communities that need it most. We will keep shutting down illegal shops, stand up for small businesses that play by the rules and ensure this industry continues on a path of growth and equity.”
Hochul said New York has continued to grow its legal cannabis market while advancing social and economic equity, supporting small businesses, strengthening public health, progressing science and research and reinvesting cannabis revenue into communities across the state. As more consumers turn to licensed dispensaries, the state has also continued efforts to address illicit cannabis activity, helping protect consumers and support businesses operating within the regulated market. To date, enforcement efforts have resulted in the seizure of illicit cannabis products with an estimated value of $125 million, further protecting public health and safety.
“Reaching $4.1 billion in cannabis sales is an extraordinary milestone for New York, but the real story is the people and businesses behind that number. From the advocates and lawmakers who made this market possible, to the entrepreneurs who have built New York’s legal cannabis supply chain from the ground up, and the workers who show up every day to keep the industry's engine running – this achievement belongs to them. What we are seeing today is the result of their resilience, innovation and belief in what New York’s legal cannabis market could become. Our responsibility now is to build on that momentum and help create the conditions for these businesses and this industry to thrive for years to come," said New York State Office of Cannabis Management Executive Director John Kagia in a statement.
New York’s Cannabis Market at a Glance
- $4.1 Billion +: Retail sales to date
- $1.41 Billion: Retail sales through the third quarter of 2026
- 2,351: Cannabis licenses issued statewide
- 1,039: Licensed adult-use retailers statewide
- 2,257: Storefront Inspections to date
- 738: Padlocked and closed illegal cannabis storefronts to date
- 1,615: Notice of Violations Issued
- $276,853,531: Estimated value of illegal products seized
- 744: Licensed adult-use dispensaries open and operating
- 56%: Share of adult-use licenses awarded to Social and Economic Equity applicants
- 5 Adult Use License Types: Cultivator, Processor, Distributor, Microbusiness and Retail Dispensary
