Bruce Linton, Chairman of Gage Cannabis: 'New York One of the Biggest Movers' And Will Soon Prove It

The cannabis market opening up in New York will be a massive catalyst for the industry, according to the sector veteran, Bruce Linton, chairman of Gage Cannabis and former CEO of Canopy Growth (NASDAQ: CGC). 

New York legalized recreational cannabis in March, enabling New Yorkers to possess up to three ounces of marijuana. However, key seats in the Office of Cannabis Management and on the Cannabis Control Board remain unfilled.

Linton told Yahoo Finance that he expects more regulatory movement now that Andrew Cuomo resigned amid sexual harassment allegations.

The New York Medical Cannabis Industry Association estimates that the cannabis market in the state is $4.6 billion and would grow to $5.8 billion by 2027 if current trends hold.

New Governor - More Cannabis Movement Expected

In August, Kathy Hochul stepped into the New York governorship in a leadership change that could give the stalled marijuana program a significant push.

“Nominating and confirming individuals with diverse experiences and subject matter expertise, who are representative of communities from across the state, to the Cannabis Control Board is a priority for Gov. Hochul,” the new governor’s spokesman, Jordan Bennett, told The New York Post 

last week.

Things Happen Fast In New York

“People will pay attention,” Linton said. “New York moves quicker and it's more lively.”

Photo by Mike Petrucci/Unsplash.