New York medical pot fights for spot in recreational market

DENVER (AP) - New York’s medical marijuana companies could be making progress in their fight to get a first crack at any new recreational market.

Jeremy Unruh with the medical marijuana company PharmaCann tells Marijuana Business Daily he thinks lawmakers have “evolved” and Gov. Andrew Cuomo’s office now sees the value of allowing existing medical marijuana license holders into the recreational market.

The adult-use draft bill from Cuomo’s office concerned the state’s medical marijuana license holders because it called on them to compete in an auction for licenses.

The proposed auction was seen as a way to fund Cuomo’s social equity goals, but the New York Medical Cannabis Industry Association recently came up with another suggestion. The association wants to create a $25 million fund to support women- and minority-owned enterprises.

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Information from: Marijuana Business Daily, http://www.mjbizdaily.com