America is Seeing Green

The legal cannabis industry is projected to hit $33B this year, up 32% from 2021, according to a new report from cannabis research firm MJBiz.

🔢 By the numbers… Both medical and recreational markets saw strong growth in 2021, increasing an estimated 34% and 43%, respectively, compared to the previous year.

• MJBiz estimates that annual sales will exceed $52 billion by 2026, while the number of industry workers will grow from 520,000 today to 800,000+ by that time.

🇺🇸 The big picture: New markets are popping up across the country as more states move to legalize weed. At present, 37 states plus DC have approved medical use, while 18 states plus DC have legalized recreational use.

• More than three-quarters of the US population resides in a state with some form of legalized cannabis (77%), and every American lives in a state that shares a border with a legal state.

🏛 On Capitol Hill… The House passed legislation earlier this month that would legalize marijuana nationwide, though it’s not expected to make any headway in the 50-50 Senate.

+Bonus: Tomorrow is 4/20. Here's the story behind its association with weed.