First Dispensary Licenses in New York Go to Those with Pot Convictions

Cannabis regulators in New York revealed that at least 100 of the state’s first licenses for adult-use cannabis retailers will go to applicants with past pot-related convictions. The policy, which was announced on Thursday by New York Governor Kathy Hochul, would also apply to applicants with family members convicted of cannabis-related offenses. Kassandra Frederique, the executive director of the Drug Policy Alliance, said that New York “is taking a big swing” with the initiative. “We don’t know what’s going to work,” she said, but “the thing that New York is showing here is that they’re willing to try and they’re willing to do things differently. . . . It is critical that those individuals and communities most heavily impacted by cannabis prohibition be given an opportunity to participate in this new industry.” Under the Marijuana Regulation and Taxation Act, the landmark recreational cannabis legalization bill passed in New York last year, half of the state’s cannabis licenses for retailers, cultivators, processors and other other businesses were reserved for women, minorities, distressed farmers, veterans and “individuals who have lived in communities disproportionally impacted” by the failed War on Drugs. This is a real try towards achieving equity.” Matt Hawkins, managing partner and founder of cannabis private equity firm Entourage Effect Capital, characterized the policy as “a step in the right direction to help legitimize the cannabis industry.”  “New York is creating professional opportunities for people who have previous marijuana convictions and were impacted by The War on Drugs,” Hawkins told High Times in an email. “It is encouraging for the state to take a strong stance on this.”