August 10, 2021

New York: The New Capital of Cannabis? Senator Liz Krueger to Detail ‘Nation-Leading’ Model for Cannabis Legalisation at Major Summit in September

3min read

Senator Liz Krueger will detail New York’s model for cannabis legalisation at the Business of Cannabis: New York summit on September 29 - the first major cannabis summit since the Marijuana Regulation and Taxation Act (MRTA) was approved in March 2021.

Prohibition Partners
10 August 2021


  • Senator Krueger will be joined by 300+ of the most influential leaders in policy, business, law and finance for a day-long program of keynote talks, panels and networking to develop a workable roadmap for the future of this brand new industry in New York.
  • Other speakers at the summit on September 29 at The Rainbow Room, Rockefeller Center, include: State Senator Brad Hoylman and Pablo Zuanic, Managing Director of Cantor Fitzgerald.
  • Prohibition Partners estimates that total sales of medical and adult-use cannabis in New York will reach USD$2.6 billion in 2022, rising to USD$3.9 billion by 2025.

“New Yorkers should expect a ‘nation-leading’ model for marijuana legalisation that focuses on racial justice, consumer safety, economic growth and a systematic deconstruction of the illicit market,” says the lead sponsor of the Marijuana Regulation and Taxation Act (MRTA), State Senator Liz Krueger.

As the lead sponsor of the MRTA, Senator Krueger played a pivotal role in pushing for the policy change that removed marijuana from the state’s Controlled Substances Act in March this year, in turn allowing New Yorkers over the age of 21 to legally possess and smoke cannabis. The MRTA’s enactment in March this year will see legal sales of cannabis in New York begin some time in 2022.

The New Capital of Cannabis?

Talking to Prohibition Partners and Business of Cannabis ahead of the upcoming Business of Cannabis: New York summit on September 29, an event which she will use as a platform to detail New York’s cannabis legalisation model, Senator Krueger said: “New York is poised to implement a nation-leading model for what marijuana legalisation can look like by legalising adult-use cannabis in a way that foregrounds racial justice, while balancing safety with economic growth, encouraging new small businesses, and significantly diminishing the illegal market.  

As the sponsor of the Marijuana Regulation and Taxation Act (MRTA) that became law in March, my goal has always been to end the racially disparate enforcement of marijuana prohibition that has taken such a toll on communities of color across our state, and to use the economic windfall of legalisation to help heal and repair those same communities. It will be critical that these goals are prioritized as MRTA is implemented in the months ahead.”

Already the global capital of corporate finance, New York’s ‘nation-leading marijuana legalisation model’ could see the City become the largest cannabis market in North America and in turn, even by proxy, the new cannabis capital of the world.

Prohibition Partners estimates that total sales of medical and adult-use cannabis in New York will reach USD$2.6 billion in 2022, rising to USD$3.9 billion by 2025.

The Melting Pot

Business of Cannabis: New York will take place at the Rainbow Room, Rockefeller Center, on September 29. The new and exclusive cannabis conference will bring together over 300 of the most influential leaders in policy, business, law and finance to develop a workable roadmap for the legal cannabis industry in New York.

A day-long program of knowledge-sharing and networking will form the foundations of an exciting future for New York’s legal cannabis industry.

With the enactment of MRTA and the reintroduction of the SAFE Banking Act in March, and more recently the release of Senate Majority Leader Chuck Schumer’s draft Cannabis Administration and Opportunity Act (CAO), there is momentum towards federal legalisation of cannabis in the United States – with New York at the forefront of the movement.

For nearly a decade, West Coast states and Canada have dominated the legal cannabis industry, while states on the East Coast have watched, learned and readied themselves. Now, with the emergence of a new global sector, New York looks poised to take its place as the new Capital of Cannabis.

By convening Business of Cannabis: New York, those that have shaped – and will shape – the future of the sector will be able to network, learn and build the sector together – in person, and for the first time since New York legalised cannabis.

The day-long Business of Cannabis: New York summit is presented in partnership by Business of Cannabis and Prohibition Partners.

Jay Rosenthal, President of Business of Cannabis, said: “As a Bostonian, it pains me that New York leads on anything – be it baseball or cannabis – but the truth is that New York is poised to become the global leader in cannabis. Being able to present Business of Cannabis: New York is a privilege.”

Prohibition Partners is the foremost source of independent data, analysis and intelligence for the cannabis industry. It provides advisory services and strategic solutions to an international client base of investors, operators, blue chips, CPG brands and government organisations.

Business of Cannabis is one of the leading B2B media platforms for the North American cannabis industry.

For media enquiries, please contact Michael Hoban, Head of Marketing & Comms – michael@prohibitionpartners.com

For sponsorship opportunities, please contact Matt Freemantle, Events Director – matt@prohibitionpartners.com

New York: The New Capital of Cannabis? Senator Liz Krueger to Detail ‘Nation-Leading’ Model for Cannabis Legalisation at Major Summit in September

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