USA Cannabis Market could Surpass $45 Billion by 2025 !!! Thursday, July 11, 2024, 9:00 AM ET
U.S. Cannabis Market Soars Amid Legal Reforms.
NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) --
FinancialBuzz.com News Commentary
The cannabis market in the United States has experienced significant growth in recent years, driven largely by an increasingly favorable legal environment. Since Colorado and Washington first legalized recreational marijuana in 2012, numerous states have followed suit, with 23 states and the District of Columbia now allowing adult-use cannabis as of 2023. This trend has fueled a burgeoning industry, with legal cannabis sales reaching $24 billion in 2021, a sharp increase from the $8.5 billion reported in 2017. Analysts project that the U.S. cannabis market could surpass $45 billion by 2025, supported by ongoing state-level legalizations and potential federal reforms. This rapid growth highlights the expanding acceptance of cannabis and its economic potential, with more states considering legalization to boost tax revenues and create jobs.