National cannabis sales hit $27 billion in 2021. See how those dollars shook out state by state.
The status of legal cannabis varies widely state by state. Federal legalization could radically change that, ushering in a wave of innovation, tax revenue and billions in new capital.. The president pardoned people with simple federal cannabis possession convictions and ordered an administrative review of cannabis’ status as a banned drug.Today, 21 states and the District of Columbia allow legal recreational use.
Investment bank Cowen estimated U.S cannabis sales at $27 billion in 2021. New states are pushing sales totals higher, and more are on the way, including New York. The state hopes to begin retail sales by the end of the year, birthing a market that by one estimate could top $1 billion in 2023 and exceed $4 billion in 2027.
There is no national repository of cannabis sales data. State data is rarely comparable and is murky as markets shift from medical to recreational sales. To assess the cannabis economy as it is now, the Business Journal collected tax, revenue and dispensary information from state governments, supplemented by research firms and other private sources. To enable comparisons, the Business Journal estimated some sales figures by combining recreational and medical sales.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gov. Murphy’s income jumped by $4M in 2021, according to tax returnsGov. Phil Murphy released partial tax returns and a tax summary Thursday.
Read more »
Man sentenced to life in prison for 2021 killing of US Coast Guard memberThe man who in previously pleaded guilty to charges related charges in the death of a U.S. Coast Guard member was sentenced Thursday to life in prison without the possibility of parole.
Read more »
Defendant convicted of voluntary manslaughter in Henry County man's 2021 stabbing deathA man was convicted of voluntary manslaughter in the stabbing death of another person last year in a rural Henry County home.
Read more »
The rate of babies born premature saw a 'concerning' increase in 2021, report findsPreterm births last year reached their highest peak since 2007 – with more than 383,000 born before 37 weeks of gestational age in the United States, according to a new report.
Read more »
Our 2021 Toyota Sienna Departs on a High NoteA hybrid Toyota minivan might sound like boredom, but during our 40,000 miles with the Sienna, we fell in love.
Read more »