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Growing Cannabis is Officially Legal in New York State

Yes, you read that correctly. NY Governor Horchul just signed the Conditional Cannabis Cultivation Bill – allowing existing hemp farmers in NY to legally grow retail cannabis. Of course, hemp farmers must meet certain guidelines outlined within the bill. There are social equity requirements and requirements regarding good environmental practices, among others.

Related: Curaleaf Launches New York State’s First Medical Cannabis Flower Products

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On the news, Governor Horchul states: “I am proud to sign this bill, which positions New York’s farmers to be the first to grow cannabis and jumpstart the safe, equitable and inclusive new industry we are building”

Of course, the new bill does have downsides. Admittedly, Conditional Cannabis Cultivation Licenses is limited to 2 years, limited to 1-acre and does not allow for CEA-style indoor growth – only outdoor/greenhouse grows are allowed. This is less than ideal as we know the best cannabis is grown indoors under strict environmental conditions.

We anticipate plenty of demand for retail cannabis in NY in the coming years. Which MSO cannabis stocks will benefit? Sign up for our weekly newsletter in the margin on the right to stay on top of the best cannabis stocks to invest in for huge potential profits.

Related: New York Legalization: Which Cannabis Stocks Will Profit?

Growing Cannabis is Officially Legal in New York State

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