Friday, February 5, 2016

The high end marijuana market in New York City

Jacob Leshno draws my attention to this article on how the legalization of marijuana in some U.S. locations (like Colorado, where I am this morning) is changing the black market in NYC:

Step inside New York City's marijuana black market in the era of legalization
Marijuana is a $2 billion-a-year industry in NYC. Like other small businesses, the city's dealers are adjusting to changing tastes and shrinking margins

"The city is full of high-end pot-delivery services in addition to solo dealers who make house calls. But with its gourmet edibles and pharmacy-like range of products, Zach’s business illustrates what the legalization wave nationwide is doing to the black market in New York.

"Zach collaborates with a professional pastry chef on the edibles but gets most of his inventory from California, where a lax medical-­marijuana program going back two decades has fueled a bustling gray market. Colorado, which has legalized recreational use, is another source. A network of local wholesalers saves him the trip out West."

And NYC now will have medical marijuana dispensaries as well...
First Medical Marijuana Dispensaries in New York Open

"Permitted under a 2014 law signed by Gov. Andrew M. Cuomo, New York’s entry into the medical marijuana marketplace comes after years of lobbying by lawmakers on behalf of patients, including children, for whom the drug is a palliative to debilitating illnesses. Yet even after the law’s adoption, some supporters of the concept criticized its stringent regulations, including that only a limited number of conditions qualify for medical use of marijuana and that it is sold in only 20 locations statewide. The drug also may not be smoked in New York, a stipulation of Mr. Cuomo’s approval, and must be processed into other forms by the companies that grow it.
"A late adopter to a trend that is now 20 years old, New York, in allowing medical marijuana, joins states as varied as conservative Montana and liberal California, which in 1996 became the first state to legalize the drug’s use as medicine. Alaska, Colorado, Oregon, Washington and the District of Columbia also allow the drug’s recreational use."

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