Legal Cannabis Market 2025 Projections and Job Creation
February 26, 2017
Preserving the Cole Memo to Avoid the Long Arm of the Law… of Unintended Consequences
March 5, 2017Legal Cannabis Market 2025 Projections and Job Creation
February 26, 2017Preserving the Cole Memo to Avoid the Long Arm of the Law… of Unintended Consequences
March 5, 2017
Washington – New Frontier Data, the authority in business intelligence for the cannabis industry, has been following the Administration’s recent positioning on marijuana policy in the U.S. Attorney General Jeff Session’s echoed White House Press Secretary Sean Spicer’s recent comments that the administration may crack down on adult use markets. Our analysts found a number of interesting insights that may be of use in this policy discussion going forward.
“While the cannabis industry has been anxious to gain more clarity into how President Trump’s Administration is going to treat the legal cannabis market in the U.S., it has also provided the opportunity for rigorous debate on the issue. New Frontier Data’s mission is to provide vetted data and insights to all who would like greater transparency into the industry and would urge all to make informed decisions based on the hard facts,” said New Frontier Data CEO Giadha Aguirre De Carcer.
- 95% of the U.S. population lives in a state where there is some form of legal cannabis (including adult use, medical use, CBD only laws.)
- 93% of Members of Congress represent constituents in markets where some form of cannabis is legal – 412 members in the House of Representatives & 86 Senators
- Of those, 334 (62%) represent states that have passed full medical or adult use laws. – 276 Representatives & 58 Senators
- Adult use is legal in eight states including the District of Columbia, covering a population of 69 million people.
- Medical use is legal in 21 states including the District of Columbia, covering a population of 135 million people.
- CBD only use is legal in 15 states, covering a population of 102 million people (CBD only refers to products where THC must be at or lower than 0.3%.)
- If the federal government decided to crack down on the adult use market, this year alone, it could jeopardize $3.4 billion in projected revenue and $8.6 billion by 2020.
- In November 2016, 18 million Americans cast votes in support of either medical or adult use initiatives. These voters represent 6% of the U.S. population.
- In November 2016, voter participation in states which passed adult use initiatives was 4% higher than the national average (62.9% vs 59.3%) suggesting that adult use legalization may have been a motivating factor for voters.
“This data highlights the complexity of this debate and the number of Americans that would be impacted by the outcomes of this policy debate,” De Carcer added.
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. We offer vetted data, business intelligence and risk management solutions for investors, operators and policymakers. New Frontier’s data and reports have been cited in over 45 countries around the world to inform industry leaders. Founded in 2014, New Frontier is headquartered in Washington, D.C. and an additional office in Denver. For more information or media inquiries, please visit www.newfrontierdata.com or contact our PR team: NFD@PReturn.com.
