November Elections Poised to Add Historic Momentum to U.S. Legal Cannabis Market
October 5, 202066% of American Adults Support U.S. Federal Cannabis Legalization
October 9, 2020
- As 2020 began, 12 states reportedly considered adult-use cannabis legalization, while 10 debated medical-use programs; after the COVID-19 pandemic, by Oct. 1 only five states prepared measures for the Nov. 3 ballots.
- Potential markets include South Dakota (the first state to concurrently consider legalizing both a medical and an adult-use cannabis market) and New Jersey, with major implications given neighboring populations centers including New York and Philadelphia.
- Should all five states pass their legalization measures, they would represent a projected combined $3.3 billion in annual sales revenue by their fourth full year of operation, and a total annual U.S. legal market exceeding $38 billion by 2025.
