Positive signs for legal marijuana in New York

The cannabis industry is nervously awaiting the federal government's actions. On one side is the slow Biden/Harris administration and the Drug Enforcement Administration's (DEA) reluctance to re-plan. The DEA must fight through overwhelming positive support from other agencies and the public. On the other side, House Speaker Mike Johnson (R-LA) has allowed groups from his party to protest and try to stop the process and make statements about the dangers of marijuana. Combine that with the chaos in California and a significant drop in investment in the industry while everyone waits for the outcome, and things are tough. But there are positive signs for legal marijuana in New York.

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New York was on track to become perhaps the largest single market in the world when it approved marijuana for recreational use. But a major last-minute overhaul of the process just weeks before launch ended in a massive mess. The first legal store will open in January 2023, but by year's end, the Empire State had about 25 legal and ultimately 2,800 illegal dispensaries. While consumers may not have known or cared about the legality of where they were shopping, they should. The products in stores are unregulated, which is a major health concern because ingredients and dosage can vary significantly.

Summer Lifestyle Photos 2023 Wana Brands is the largest gummy bear company in the industry. It has a presence in 20 states, Canada and Puerto Rico and is backed by Canopy and alcohol giant Constellation Brands. It is highly respected and is the most well-known product company in the industry. Entering the New York market is a sign that things are slowly returning to normal. New York has closed over 800 illegal stores and is working on opening 200 legal stores.

Joe Hodas, President of Wana, said: “Wana’s entry into the New York market is a step that has for quite some time now. We are already strongly represented in over 20 stores, including The Travel Agency and Housing Works. Orders are coming in and more Locations will be coming online soon. While our initial focus is on the New York City area, We are also working on expanding to the north of the state. We believe that New York is one of the are the most important states on the map for us and we are looking forward to launching more products in the hands of New Yorkers and all those who come to visit from all over the world.”

When asked why he is now entering the New York market, Hodas replied:

“For us, entering the New York market was a matter of timing. In the past, the city has been challenging for a brand like ours due to the many illegal businesses. But on my recent visits, I noticed a change – there is now a more robust network of regulated, legal stores. We felt it was finally the right time for Wana Brands to offer our products to New Yorkers. We couldn't have made this move without our partner urbanXtracts. Their state-of-the-art manufacturing capabilities and shared commitment to quality made this launch possible and we are excited to see what the future holds.”

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“The Travel Agency is thrilled to partner with Wana in this dynamic New York cannabis market, which we have helped build since its launch. Wana is also one of the pioneers in this industry, building its business through consistent products and exploring new formats and flavors. We look forward to working with Wana to provide New Yorkers with a safe, high-quality cannabis experience,” said Paul Yau, co-founder and CEO of The Travel Agency, one of the larger, legal dispensary brands in NYC.