The 8th Annual Marijuana Business Factbook
The 8th Annual Marijuana Business Factbook with Jenel Stelton-Holtmeier, Editorial Director at MJBizDaily. MJBiz recently published the 8th Annual Marijuana Business Factbook and we look at the overall scope of findings. “Though the long-term outlook for the recreational side of the industry is more bullish than for medical, MMJ sales are expected to grow at roughly the same pace in 2020. New MMJ markets including—but not limited to—Florida, Maryland, Oklahoma, and Pennsylvania are booming, more than offsetting lost medical sales in markets that have legalized adult-use sales, such as Illinois, Massachusetts, and Michigan.
“ Four states are voting on adult-use (recreational) cannabis legalization: Arizona, Montana, New Jersey, and South Dakota. However, the medical cannabis industry’s upside is limited, as more than two-thirds of U.S. states have legalized medical markets; only around one-fifth currently allow adult-use sales. Programs in states that have recently legalized medical marijuana are restrictive in nature with limited access to dispensaries, tightly controlled lists of qualifying conditions, and severely constrained product selections. Generally speaking, the handful of states left that have yet to legalize medical marijuana are politically conservative and, if they do enact MMJ programs, might adopt a similarly onerous model that dampens their sales potential. Three states are voting on medical marijuana legalization: Idaho (maybe), Mississippi, Nebraska, and South Dakota.