Misplaced Enthusiasm On The East Coast For Regulated Cannabis Markets… Too Much Too Soon !

The Times writes
 

Marijuana Legalization Hits a Wall: First in New Jersey, Then in New York

In March, both states seemed days away from a landmark legalization deal. Now inertia is feeding doubts that it can happen this year.

A push to legalize recreational marijuana in New York and New Jersey this year appears all but dead in both states, a dramatic fall for an effort that just over a month ago seemed inevitable.
For months, the two states were locked in a race to legalize, vying for millions in tax revenue and progressive bragging rights. But at the end of March, the campaign in New Jersey abruptly collapsed,hours before a votewas supposed to take place.
New Jersey’s failure had a coattail effect in New York: It emboldened opponents and eased pressure on some of legalization’s most important allies, including Gov. Andrew M. Cuomo, who had declared legalization a priority for the first 100 days of the session.
But as that deadline approached, Mr. Cuomo declared that negotiations were too complicated; within days of New Jersey’s failure, the effort in New York, too, was shelved.
In the weeks since, the inertia in each state has continued to fuel more of the same in the other, with even staunch proponents of legalization seemingly resigned to waiting until next year.
Democratic leadership in New Jersey, including Gov. Philip D. Murphy, has remained focused on an upcoming budget battle and an investigation into tax credits. Legislators in New York, who had emphasized the importance of pre-empting New Jersey, have not discussed marijuana in private conferences since March.
Read on at . https://www.nytimes.com/2019/05/13/nyregion/marijuana-legalization-ny-nj.html

 
Over at NJ.com the story is Gov Murphy rushing to try and relax medical cannabis now adult use is nigh dead in the water
NJ.Com write…

Beginning next week, the state Health Department will have new legal authority to expand the supply and demand for medical cannabis in New Jersey — a major priority for Gov. Phil Murphy’s administration as the effort to legalize recreational marijuana is looking unlikely this year.
For the first time, the department will be able to create a permit-granting system that divides up the industry between cultivators, manufacturers, and retailers. The six operating nonprofits which serve the 46,300 registered patients control all aspects of the process, as will the next six which were awarded contracts in December.
Issuing permits for the various segments of the medicinal cannabis business is expected to open the door to smaller entrepreneurs, promote the industry’s growth and generate more medicine as roughly 2,000 patients join the program every month.
Other new rules that take effect on May 20 will permit the health commissioner to add medical conditions that qualify patients for the program. This would replace the process, adopted under the 2010 law, which requires the Medicinal Marijuana Review Panel to hold multiple public hearings over six months before it makes a recommendation to the health commissioner. The more conditions the state adds, the greater the demand will be for the program.
 
Remembering that these are both very blue states we’re wondering if this new state of mind will leach up the Amtrak line to DC where the Democrats have been pushing a line in the House and via hearings for some form of Financial regulation for the cannabis sector . Only time will tell.
The winners … Massachusetts and specifically the few  dispensary license holders in that state.. they are raking in the $’s from New Yorkers and will continue to do so and don’t forget dealers in New York City where business will carry on unabated, most likely selling overspill from CA, OR & CO.
 


Go to Source

Powered by WPeMatico