Cannabis in 2020

Several overarching trends from 2020 bode positively for the legal cannabis industry in 2021 and going forward.

Gallup’s latest national poll found that Americans in 2020 are likelier than ever before (68%) to support the legalization of marijuana in the U.S.

In the fall elections, five new states mandated new legalization programs, including traditionally conservative stalwarts Mississippi and South Dakota.

The COVID-19 pandemic fueled record-shattering demand (with retail sales up to 35% above forecast), and led to cannabis businesses being declared “essential” in virtually every U.S. legal market.

For the first time, consumers more often preferred edibles to flower-only joints, underscoring market diversification.

Within two years, Oklahoma’s medical cannabis market reached the highest patient saturation rate (9%) of any state in the U.S., more than 2x any other state medical-use market.