The USA Cannabis Opportunity Is Significant: New Entrants Who Know What They Are Doing And Operate Smartly Will Be Successful  January 26, 2021

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By Terry Booth

Compared to Canada, the American cannabis industry is a very different ballgame — and it’s still only in the first inning. The highly rated research team at Cowen & Company, led by Vivien Azer, estimates that the legal cannabis market in the U.S. will grow from an anticipated $20 billion in 2020 to $40 billion by 2025. For an idea of just how much potential there is, consider that the state of California’s recreational market alone is greater than Canada’s entire national market ($3.1B to $2.5B). There are currently 15 states plus Washington, D.C. that have legalized adult-use cannabis. In total, 36 states now have legalized medical cannabis. These totals include states that at the 2020 elections saw ballot initiatives approved. Arizona, Montana and New Jersey all voted for legalizing adult use. South Dakota’s ballot initiative saw voters approve both medical and adult use, while Mississippi’s voters endorsed the state’s ballot initiative for medical use.

With the Democrats taking the Presidency, the House and the Senate, there are strong indicators that legalization is around the corner. A number of bills supporting and protecting the industry, which were approved by the House but that were not expected to make it through the Senate, now are seen as highly likely to pass. The key bills proposed to date are ...

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