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As 2020 begins, 19 states are actively debating reform policies: 11 states with active medical cannabis programs are considering legalizing it for adult use, and 8 states may adopt their own medical-use programs.
- Such additional state markets could collectively generate $3.5 billion in the first full year of sales, growing to a collective $11.5 billion by their fourth year of operations (CAGR 48%).
- Annual sales across the 33 states (and D.C.) already having operational cannabis markets are projected to reach $30.1 billion by 2025; were all 19 potential new states to pass legalization measures and become operational by 2022, the projected 2025 total size of the U.S. legal industry would increase by 38%, to $41.6 billion.
- As 2019 ended, there were 223.4 million people living in states with access to legal medical or adult-use cannabis (68% of total U.S.). Should all the additional programs pass, they would increase the percentage of the population living in states with access to legal cannabis to 90%.
- As 2020 begins, 28% of the U.S. population lives in a state with access to legal adult-use cannabis. If all 11 potential adult-use states activate reform, the overall proportion of residents living in legal adult-use states would increase to more than half the country's population (54%).
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The post States With Potential to Pass New Cannabis Legalization Measures in 2020 appeared first on New Frontier Data.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.