A new legislative report delivered to Maryland lawmakers this week projects that the nationwide market for legal cannabis could bring big money within the next decade.
How much money is being estimated?
Money, Money, Money
$72 billion per year by 2030. This is more than double the current market estimation of $32 billion annually.
On Tuesday, November 2nd, the Maryland House of Delegates’ Cannabis Referendum and Legalization work group met to assess a report on the nationwide cannabis regulation climate.
Being a part of the cannabis industry, we only want the best moving forward. We want the industry to continue to grow and evolve. The question is, how does this happen? What does that look like essentially?
The report was prepared and presented by Mathew Swinburne, the associate director of Network for Public Health Law-Eastern Region of Baltimore. Swinburne included information from New Frontier Data that projects steady growth of the nationwide market as current markets mature and new states become legal cannabis states.
Coming up in the general election, voters in Arkansas, Maryland, Missouri, North Dakota and South Dakota will have legalizing cannabis on their ballot. Will these states make a change? Click the link above for more information.
“We know that the cannabis industry is a profitable industry,” said Swinburne. “This is a new industry that is filled with economic opportunity and that opportunity is only growing” (High Times).
Think about it. $32 billion in 2022 to an estimate of $72 billion by 2030.
Cannabis is growing, changing, evolving.
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