Cannabis Briefs for September 20, 2022September 20, 2022
•New York says it’s on track to issue its first recreational cannabis licenses by the end of the year. Speaking on Spectrum News, Chris Alexander, executive director of the New York State Office of Cannabis Management, said the agency is focusing first on small- and medium-sized businesses, with more licenses to be awarded in the new year. Under the state’s Marijuana Regulation and Taxation Act, applicants with prior cannabis convictions are intended to be included among the first to receive state licensing.
•Cannabis sales totaled $129 million in Illinois in August, down slightly from the previous month but up 6% compared with a year earlier. Adult-use sales registered $88 million for the month, while medical sales kicked in another $41 million. In Michigan, sales grew strongly in August year-on-year, with medical accounting for $18.5 million and adult-use sales tallying $189 million. Total sales in Michigan were up marginally on a sequential basis, but jumped about 25% year-on-year.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.