Legalizing recreational marijuana was not included in this year’s New York State budget, but there is still a chance that legislation on it could be passed as soon as the end of 2019.
“We have not legalized cannabis, adult-use cannabis, the political desire is there,” New York Governor Andrew Cuomo on Sunday. “I believe we will get it done.”
Medical marijuana is already legal in New York State.
Vireo Health, a medical cannabis company that operates in New York, recently acquired Mayflower Botanicals Inc., a registered marijuana dispensary in New Bedford, Mass. It plans on getting into adult-use marijuana as well.
“Adult-use cannabis is coming everywhere,” said Kyle Kingsley, CEO of Vireo Health. “It’s just a matter of when.”
Recreational marijuana is already legal in Massachusetts.
“We’re very excited on the opportunity in Massachusetts,” explained Kingsley. “It’s a great market. Very large patient and customer base. We are very excited about the acquisition. We got a very sizable plot of land that we can scale into pretty substantially.”
The land is zoned for production and distribution of marijuana. Vireo Health is working on getting it’s recreational marijuana license. The company is confident that legislation regarding adult-use cannabis will eventually be passed in New York State.
“To us, it’s not a big deal if it happens this year or next,” stated Kingsley. “We really feel as though this regulation is coming to the entire country over time. And we also see it as a spectrum. There is health and wellness and some grey space in the middle, and there is very clear adult and recreational use.”
According to Governor Cuomo, lawmakers still have a lot to consider before adult-use becomes legalized.