Analysis of NY Adult-Use Cannabis Regulations — Is the Market Doomed to Fail?
NEW YORK — Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF), a New-York based vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., released a New York Illicit Cannabis Market Absorption Analysis that (i) examines the state’s current trajectory for achieving key goals outlined in the Marijuana Regulation and Taxation Act (“MRTA”) and the need to course correct to do so; (ii) identifies the potential implications of its current adult-use draft regulations; and (iii) ultimately demonstrates the importance of expanded access to more operators, including Registered Organizations (“ROs”), to the success and stabilization of New York’s legal cannabis market. New York cannabis market is projected to be worth $5 – $7 billion, yet limited access to the regulated market is stifling growth and delaying the absorption of the illicit market. Acreage commissioned MPG Consulting, a leading strategi...