BUSINESS OF CANNABIS CONFERENCE RETURNS TO NEW YORK CITY ON NOVEMBER 3RD

In this second summit, the most influential business leaders, investors and politicians gather to discuss social equity, policy and the future of cannabis retail in the Northeast

Projected to reach nearly $1.5B in its first year of adult-use sales, and $2.87B by 2025, New York’s incoming adult-use mega-market is one of the most highly-anticipated to open

NEW YORK, August 10, 2022 – Business of Cannabis, the host of quarterly events and annual cannabis conferences in North America and a premier publication of cannabis news, returns to New York this November 3rd, 2022 at an iconic New York venue, which is to be announced soon, for its second annual event. Produced in partnership with Prohibition Partners, the most trusted provider of specialist information, data analytics, and digital commerce solutions for the global industry, Business of Cannabis: New York will bring together 400+ industry pioneers, policymakers, thought leaders, and investors to look at the most exciting corner of the cannabis industry in New York and North America right now: retail.

New York legislators are taking one of the most dynamic approaches to cannabis policy in the industry’s history. In addition to exploring whether the final measures will have a ripple effect throughout the U.S., programming at this years’ event will center around three pillars: social equity, policy, and the technology, innovation, design, and data that is driving the cannabis retail sector forward. Business of Cannabis is excited to announce the following speakers who will take the stage:

“Business of Cannabis returns to New York at a critical time for both state and federal legislation,” said Stephen Murphy, Co-Founder of Prohibiton Partners. “We’re thrilled to bring together all of the key decision-makers in New York and to provide a platform to promote progressive ideas. Our event is bound to intentionally and strategically shape the future of cannabis.”

Business of Cannabis hosted its inaugural conference in September 2021 at the renowned Rainbow Room at Rockefeller Center. The event brought together over 300 of the most influential businesses, financial institutions, and political thought leaders shaping the future of the state’s emerging legal cannabis industry.

The North American Cannabis Report: 3rd Edition, recently released in collaboration between Prohibition Partners and Business of Cannabis, projects that the adult-use cannabis market in North America could be worth US$66.4 billion by 2026.

Despite the slow pace of federal cannabis reform in the UnitedStates, some sizable legal state markets have either kicked off impressive adult-use sales or have big plans for the near future.

Anticipation is highest for the Northeastern states in the US. New York’s incoming adult-use mega-market isn’t going to be ready until 2023 at the earliest, according to regulators. With medical sales reaching US$467.2 million in the state in 2021, it should be worth the wait: Prohibition Partners projects the market will reach nearly US$1.5 billion in its first year of sales, and US$2.87 billion by 2025. It will be a boon for tax revenues, too, with analysts predicting adult-use sales to bring in an estimated US$300 million annually.

In the meantime, New York has expanded its medical programme and allowed medical dispensaries to sell cannabis flower. Possession of up to three ounces is also now legal, although the state has seen a proliferation of illegal activity as regulators hammer out the details around licensing, marketing and retail operations.

For tickets and more information on sponsorship and speaking opportunities at Business of Cannabis: New York this year, please visit: cannabisnewyork.live

Since 2017, Business of Cannabis has highlighted the companies, brands, people and trends driving the cannabis industry in North America. Powered by Prohibition Partners, the Business of Cannabis team brings over 30 years of public and strategic communications, content and campaign creation, and deep sector expertise, relationships, and insight.