With the emergence of legal adult-use cannabis, we are witnessing the birth of a new industry. That’s pretty rare. Already, adult-use cannabis is legal in 19 states and Washington, D.C. And 37 states have legalized its medical use.
The size of the industry is huge. In Washington alone, state adult-use cannabis sales topped $1.5 billion last year, a 43% increase from 2019. Across all states, recreational sales are projected to hit $25 billion by 2025.
According to national polling, two-thirds of Americans want adult use legalized at the federal level. If you project that out, the size of the U.S. market could be about 130 million customers: That’s 66% of adults over 21.
Amid this historic opportunity, it’s critical for the federal government to not just legalize adult use but to do it right.
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