Erosion of the Illicit Market
- Despite the COVID-19 pandemic, states have seen accelerated sales in legal cannabis markets versus erosion in illicit markets.
- Strong patient participation in Florida and Oklahoma’s respective medical-use markets demonstrated continued demand despite general economic contraction during the pandemic.
- Oregon and Colorado both set state records for overall cannabis sales in May.
- New Frontier Data found that average consumer monthly spending rose to record highs in April and May, reaching $290 and $296, respectively.