California Cannabis Sales Gather Momentum
Senate Action on SAFE Looms as Distant Refuge in Post-Pandemic Reality
March 22, 2020COVID-19 and the Purchasing Practices of Cannabis Consumers
March 29, 2020
- In calendar 2019, legal sales of adult-use cannabis in California topped $2.8 billion.
- After statewide Q1-19 tax receipts of $508 million fell far short of expectations, the state’s projections were revised downward to reflect its difficulty both in limiting illicit market operators and converting adult-use consumers to the legal market.
- Subsequently, the following 2019 quarters posted stronger results, with Q4-19 sales totaling $808 million, up 59% from Q1-19.
- California’s legal adult-use sales are expected to reach $3.5 billion throughout calendar 2020, growing to a projected $5 billion (about 43%) by 2025.
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