Forbes outlines why the black market will stick around in NY for a while yet..
ussell, a 60-something marijuana grower and distributor who lives in the New York suburbs, makes about $200,000 a year in the illicit cannabis market. He has a nice roster of clients who live along the Hudson River, from the quaint towns of the Hudson Valley to the cacophonous neighborhoods in Manhattan, and he offers free delivery. Ounces of New York’s favorite strain, Sour Diesel, is $200, a pre-rolled joint for is $10, gummies with a mind-melting 420 milligrams of THC go for $30 and vape cartridges made by legal operators in California are $30.
Since New York legalized medical marijuana in 2016, Russell says his annual revenue has gone up 200% and he expects a sales spike once New York passes its adult-use law. (The New York Assembly says the passage of the Marijuana Regulation and Taxation Act is imminent.)
“I’ve never had this many customers,” says Russell. “Legalization is not going to hurt—the illicit business is stronger than ever.”
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