Yo, listen up fam, New Jersey is straight up killin’ it in the legal weed game. Forget about New York City bein’ the center of the universe, Jersey be takin’ over the weed scene like they own it. In 2023, New Jersey made over $800 million in cannabis sales, while New York only brought in a measly $174 million. That’s a big difference, ya feel me?
New Jersey’s rollout of legal weed has been smooth as butter, with no major issues poppin’ up. They got their program up and runnin’ in April 2022, and in just 9 months they raked in over $555 million. That’s some serious cash flow right there. The tax revenue from the weed industry has been a major boost for the state, helpin’ them out big time. Meanwhile, New York be strugglin’ with one problem after another, can’t seem to get their act together.
The analysts at BDSA, who know their stuff when it comes to weed, are sayin’ that if New York can get their act together, they could be the top dog in the weed game and maybe even hit $2 billion in sales. But right now, they’re losin’ out on big bucks to illegal dispensaries – over $1.2 billion in revenue just last year. And don’t forget about all that tax money goin’ down the drain.
The head honcho at the New Jersey Cannabis Regulatory Commission, Jeff Brown, is talkin’ big game about how Jersey is gonna be the go-to spot for weed sales. He’s all about boostin’ that state revenue and makin’ sure they come out on top. The only thing holdin’ Jersey back from takin’ over completely is that New York still has over 1,500 underground dispensaries in NYC alone. They might be makin’ money, but they’re keepin’ it all off the books and out of sight.
BDSA is bettin’ on New York gettin’ their act together and takin’ that top spot in the weed game, with Jersey comin’ in close behind. But until they clean up their act and get rid of all them illegal shops, it looks like Jersey is gonna be runnin’ things for now.
So there you have it – New Jersey is the place to be for legal weed right now. They’re makin’ bank and keepin’ things runnin’ smooth while New York tries to catch up. It’s a wild ride in the world of legal cannabis, but one thing’s for sure – Jersey is definitely the shining star when it comes to the legal weed market.