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New York legalizing weed could mean big things for the future of the cannabis industry New York this week became the latest state to legalize recreational cannabis, and in doing so, it’s poised to become one of the nation’s largest markets. Another multibillion-dollar business opportunity would be lucrative for cannabis businesses, but industry members and insiders also are viewing the Empire State in a broader light. They think that having a prominent state such as New York enact legalization could ultimately influence cannabis’ future trajectory nationally and potentially help it shed its federally illicit status. “New York is definitely a catalyst for more states to legalize and open up, as well as federal legalization,” said Ross Lipson, chief executive officer and co-founder of cannabis e-commerce marketplace Dutchie, which recently hauled in a $200 million investment from prominent tech VC firms.

New yorkUnited statesNew mexicoJoe bayernChris walshRoss lipsonAdam orensYork medical cannabis industry associationSenate majority leader chuck schumerEtain healthAcreage holdingsOffice of cannabis managementEmpire stateMarijuana businessNew york medical cannabis industryViridian capital advisors