Synopsis: Manhattan DA Wants Marijuana Entrepreneurs to ‘Be Successful’
This week’s hot article, Manhattan DA Wants Marijuana Entrepreneurs to ‘Be Successful’, written by By Joe Marino and Chris Perez and published by the New York Post is about how Manhattan District Attorney Cy Vance is acting toward the ending the prosecution of low-level marijuana cases — as part of a broader city trend toward decriminalization.
“I want you all to be successful and legal,” Vance said, noting how the Big Apple was the largest black market for pot in the country. “New York needs to take a lead responsibly — with speed.”
Cy Vance is among the most progressive lawmen in the cannabis marketplace. As a result, Vance has been asked to speak at CannaGather. The New York DA has pledged not to prosecute possession of marijuana for low-level possession or smoking a joint unless you’re observed selling marijuana and the person buying runs away and is not able to be found. This is based on the premise that licensing businesses to sell cannabis should be the priority and that acting outside of this new normal should be prosecuted.
Cy went on to stress that entrepreneurs and investors should set their sights on New York, indicating that he considered legalization to be a foregone conclusion. Before the policy not to prosecute was made, Vance’s team spent six months traveling the U.S. talking to prosecutors, chiefs of police, and agency heads. After looking at what worked and what didn’t, he concluded that New York’s policies needed changing. Keeping in mind supply and demand and its role in the way a black market flourishes, Cy pointed out that other states issued too many licenses and that New York needed to proactively manage the market to fend off the price lowering that incents a black market to thrive.
Zefyr supports the careful allocation of cannabis licenses throughout the industry and a proactive management of the market in its early stages of development. This set of behaviors is not only good for law enforcement but it also good for license holders that will drive the future growth of a legitimate and sustainable industry into the future.