Despite Domestic Disruptions, U.S. Elections Provide Optimism for Cannabis Industry
November 6, 2020Cannabis Spending Still on the Rise
November 15, 2020
- On Election Day, five U.S. states passed a total of six ballot initiatives for legalized cannabis programs.
- Four states (Arizona, New Jersey, Montana, and South Dakota) adopted adult-use measures; Mississippi and South Dakota both legalized cannabis for medical use.
- South Dakota made history as the first state to adopt both recreational and medical cannabis programs through the same ballot.
- Including the new states’ revenues, the total U.S. legal market projects to reach $38.3 billion by 2025.
- New Jersey’s legalization of a recreational market will be catalytic for expansion and normalization of cannabis programs in the Northeast and East Coast.
- Approximately 234 million people—a majority of Americans—will be living with legal access to either a medical or an adult-use market.
