With the impending development of New York state’s embrace of Medical Marijuana, there is a lot of excitement amongst cannabis entrepreneurs. Being the second biggest state, population wise next to California, there is a large market to consider. There is the caveat that medical cannabis in New York will not be smokeable flowers, but tinctures, kiefs, hashes and edibles instead. An interesting approach with an understandable distinction by the uninformed, but one that is still welcome because it signals true change in a historically anti-cannabis state. Nobody expects this iteration of cannabis regulation to be it’s final version. This is just the beginning of many years of regulation refinement based on experience and research.
What will make New York’s Medical Cannabis laws different, commercially speaking?
First, there is typically an explosion of cannabis production and people vying to be in the premier group of distributors. Everyone suddenly wants to either grow or to set up a store front dispensary with little understanding of the realities of the legal framework. Excitement reigns and prudence goes out the window. But what will make things different in NY is that normally, a medical state starts with an explosion of flower production and over time, the edible and concentrate market grows afterwards. This is especially relevant to concentrates production, usage and adoption that, by it’s very nature, is a more difficult cannabis product to produce and is currently plagued with bad press.
How the New York medical cannabis industry deals with the ‘non-smokeable cannabis’ distinction will be interesting and will no doubtedly be subject to some legal action by activists. As far as for the commerce side of things, it may make for an explosion of branded products that will hopefully self regulate their quality control standards, in the hopes of becoming leaders in their field. Leaders such as Bhang Chocolates, Xternal and Butter Brothers. You might argue that this is the inevitable direction of where cannabis based products will go, where flowers will be mostly source material for products that are more main stream recreationally and medically speaking. ie: tinctures, patches, beverages. We could even see an approach to flower production in New York, similar to Canada’s new Federal Marijuana program.
Regardless, how the program unfolds in New York state will be another interesting experiment in state medical cannabis regulation. One we are really interested in seeing unfold.