Fresh data shows that 8 U.S. states shifted $12.8 billion of recreational cannabis last year

Fresh data shows that 8 U.S. states shifted .8 billion of recreational cannabis last year
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More U.S. states might have legalized medical cannabis than they have recreational, but it’s safe to say that the adult-use sector is still yielding some high returns. In fact, data recently gathered by Cannabis Business Times indicates that eight U.S. states generated more than $12.8 billion in recreational sales in 2021. Last year, only 11 U.S. states had enacted adult-use cannabis programs. Since this time, the number has inflated to 18 (and counting.)  Although there were seven fewer states with legal recreational cannabis markets during the year 2021, this is not to say that the industry lacked money-making potential. In fact, based on the latest figures, it’s quite the opposite. Here’s the breakdown: As per recently published analysis of the market from researchers at the Cannabis Business Times, 11 states with fully functional adult-use retail programs were responsible for over 50 percent of the nation’s legal cannabis sales last year. Of those states, eight monitored their adult-use sales figures distinctly from medical revenue: Arizona, California, Colorado, Illinois, Maine, Massachusetts, Michigan and Oregon.  Let’s take a closer look: Arizona – Sales for Arizona’s legal recreational cannabis market, which was enacted on November 3, 2020 with the passing of Ballot Proposition 207, amounted to $593.6 million in 2021. California – Sales for California’s legal recreational cannabis market, which was enacted on November 8, 2016 with Ballot Proposition 64, amounted to $5.2 billion in 2021. Colorado – Sales for Colorado’s legal recreational cannabis market, which was enacted on November 6, 2012 with Ballot Amendment 64, amounted to $1.82 billion in 2021. Illinois – Sales for Illinois’ legal recreational cannabis market, which was enacted on June 25, 2019 with House Bill 1438, amounted to $1.38 billion in 2021. Maine – Sales for Illinois’ legal recreational cannabis market, which was enacted on November 8, 2016…

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Source : Fresh data shows that 8 U.S. states shifted .8 billion of recreational cannabis last year

reposted by Cannabis News World

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