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last year and that could grow to $10 billion to $12 billion for states by 2030, exceeding tax revenue from alcohol, according to municipal-bond strategists at Barclays Plc. And when the federal money’s gone, municipalities will need to find new revenue to pay for ongoing programs they funded with one-time aid.
With a growing number of states legalizing weed for recreational and medical purposes, the U.S. market could surge eight-fold to $80 billion in sales by 2030, according to Cowen & Co. New York state has a small medical program and is expected to approve recreational weed this year. With a market value of roughly $1.5
Despite the federal illegality of cannabis, lawmakers and state representatives have implemented successful medical and recreational cannabis programs across the nation. As of July 2022, 38 states in America have legalized medical cannabis, and 19 states and the District of Columbia have established recreational cannabis programs.
The electoral triumph by the Republican party in Virginia this week has thrown into question the rollout of the state’s recreational marijuana market, which would be the first adult-use market in the South and is expected to generate more than $1 billion in sales before 2030. — Team Youngkin (@TeamYoungkin) July 2, 2021.
Other policies it backs include more cash for harm reduction programs, universal health care coverage for substance use disorders, addressing prison overcrowding and eliminating the stigma and discrimination associated with drug use.
Medical: legal Recreational: decriminalized. In September, 2020, the Swiss parliament passed regulations to allow for pilot schemes involving recreational cannabis. Switzerland does not have a separate, dedicated state-run medical marijuana program. How do the Swiss generally view marijuana?
legal cannabis sales are on track to surpass $57 billion by 2030 at a CAGR of 14%. cannabis consumers could climb from the 47 million recorded in 2020 to 71 million by the year 2030 based on ever-growing self-reported usage rates. million people expected to register under state-legal patient programs by the year 2030.
billion by 2030.” Twenty-one states have passed adult-use recreational cannabis laws, and over 30 states have implemented positive cannabis reform laws resulting in successful medical cannabis programs. ” Every state in America that has legalized adult-use recreational cannabis also has legalized medical cannabis.
At the present time, state medical and recreational legalization have no impact on federal drug control laws. Although many states have chosen to legalize medical marijuana and four have legalized recreational use, such state actions continue to conflict with federal law. 2030 , 2068, 2070; Pub. 2030 , 2068, 2070; Pub.
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