“Even if the pace of new markets slows from its current pace, New Frontier Data estimates a healthy nine percent compound annual growth rate through 2030,” he added. markets and likely legalization for medical use in nine others before 2030. cannabis industry will be buoyed by new markets coming online,” Gary Allen, Chief Executive of New Frontier Data, noted releasing the firm's latest industry report for 2023.Īllen sees “strong momentum” for adult-use cannabis legalization in nine U.S. “As more established markets across the country stabilize, the U.S. cannabis sales assumes the current pace of state-level legalization, even if that momentum wanes, New Frontier Data expects the market to reach $58B. Multi-State Operators (MSOs) and Canadian Licensed Producers (LPs) higher. Senate and House lawmakers reintroduced the proposed legislation sending the shares of the U.S. Just last week, a group of bipartisan U.S. financial institutions, has been stuck in Congress since 2019, having cleared the House multiple times without any success in the Senate. states and the District of Columbia have already legalized weed, cannabis companies struggle with operational inefficiencies as their supplies must remain within state boundaries with no federal protection.Įven banking access is limited: SAFE Banking Act which aims to allow cannabis companies to do business with U.S. pot industry, projecting $71B of legal marijuana sales in 2030 if the current trend in state-level legalization continues even without legal immunity at the federal level. Cannabis analytics firm New Frontier Data sees brighter days for the U.S.
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