State's Cannabis Industry Marks 5-Year Anniversary with $3.3B in Sales, 600 Dispensaries
ALBANY — Governor Kathy Hochul marked the upcoming five-year anniversary of the passage of the Marihuana Regulation and Taxation Act (MRTA), which legalized adult-use cannabis, established the Office of Cannabis Management (OCM), and laid the foundation for a regulated, equity-driven cannabis industry in New York.
Since the launch of adult-use sales, New York’s cannabis market has generated $3.3 billion in total retail sales and expanded to more than 600 licensed dispensaries statewide, with Pure Blossom on Manhattan’s Upper West Side recognized as the State’s 600th licensed retail location.
“Five years ago, New York committed to building a cannabis market rooted in equity, safety, and opportunity and today, that commitment is delivering real results,” Gov. Hochul said. “We are creating new pathways for small businesses while aggressively shutting down illicit shops that threaten public safety and undermine our legal market. Our focus is clear: protect consumers, support legal businesses, and ensure this industry grows the right way.”
New York State Office of Cannabis Management Acting Executive Director John Kagia said, “New York’s cannabis market is demonstrating that growth and equity are not mutually exclusive. With more than $3 billion in sales, a majority of licenses held by Social and Economic Equity applicants, and a rapidly expanding retail footprint, the State is building a market that is both economically viable and intentionally inclusive.”
Strong Market Growth and Consumer Participation
New York’s adult-use cannabis market continues to expand, with strong participation from both businesses and consumers:
$3.3 billion in total retail sales generated since market launch.
2,161 adult-use cannabis licenses issued statewide.
610 licensed retail dispensaries now operating across New York.
Advancing Social and Economic Equity
New York continues to lead the nation in building an equitable cannabis industry:
56 percent of adult-use cannabis licenses across the supply chain have been awarded to Social and Economic Equity (SEE) applicants, exceeding the State’s statutory goal.
57 percent of SEE licenses have been issued to women-owned businesses, and 51 percent to minority-owned businesses.
342 Conditional Adult-Use Retail Dispensary (CAURD) licensees have been approved statewide, with 86 percent currently open and operating.
As part of her 2026 State of the State, Gov. Hochul announced a $17 million investment to expand Social and Economic Equity initiatives and programming.
