4. The legality of recreational or medicinal marijuana, as reported by Drug Policy Alliance.
The first US state to legalize recreational marijuana, Colorado scored a 100 for amount of users, Google searches and legal status. Colorado also has the third most affordable marijuana in the country and the second most expressed interest in various marijuana publications on Facebook, resulting in a total score more thanВ 70 points higher than theВ number two state.
Where in the name of Bob Marley did that come from? Maine has the third highest amount of regular marijuana users in the US (over 10.2 percent of residents), and its Google searches comeВ in fourth place. Its marijuana is the 17th cheapest in the country, but that apparently worksВ just fine for that creepy guy who cranks out bestsellers every other month, aka Stephen King.
California has the fourth lowest prices, but just 6.97 percent of residents count themselves as regular users, which isn’t such a surprise considering this state is so big. But still, you have to wonder if these people even know they live in what may be the source of the best weed on the planet?
This famously progressive haven ranks as the 10th lowest for public expression of marijuana interest, but the amount of Google searchesВ is second only to Colorado. Washington’s marijuana is apparently the second cheapest in the country, and the state reportedly commands a respectable 81 users per capita.
Estately determined which states possess the most enthusiasm toward marijuanaВ based on each state’s marijuana laws, amount of regular users and the level of interest its citizens publicly expressed for sweet Jane.
4. New Mexico
If you’re a pothead looking to relocate, the best places to continue your favorite pastime may surprise you. Estately determined which states possess the most enthusiasm toward marijuanaВ based on each state’s marijuana laws, amount of regular usersвЂ¦
However, we’re already seeing some impressive revenue totals being put up by a number of medical and recreationally legal U.S. states. According to estimates provided by Arcview Market Research and BDS Analytics in their 2019 State of the Legal Cannabis Markets report, there are five states expected to hit the psychologically important $1 billion sales mark in 2019 and 10 that’ll produce, at minimum, $298 million in estimated 2019 pot revenue. Let’s take a closer look at the 10 most important cannabis states, at least in 2019.
Naturally, with the calendar just weeks away from changing over to a new year and new decade, attention is also being placed on a handful of states that could make some noise in 2020.
Trulieve Cannabis (OTC:TCNNF) , for example, has opened 40 stores in Florida and placed most of its emphasis on building its brand within the state. Even though Florida only allows the sale of medical marijuana, Trulieve has found plenty of success and is, hands down, the most profitable pot stock on the planet right now. With Florida potentially looking to legalize recreational cannabis in 2020, Trulieve’s existing retail presence puts it in good position to succeed.
Although not every state is inviting to privately held multistate operators (MSO), a number of these core markets are highly sought after by vertically integrated MSOs.
Yet make no mistake about it: This growth story is all about the United States. Nearly all estimates on Wall Street suggest that the U.S. will account for a third to a half of all global sales by the end of the upcoming decade. That makes the U.S. the crown jewel of the cannabis movement.
- California: $3.1 billion (not broken down into a recreational and medical component)
- Colorado: $1.6 billion ($1.3 billion recreational, Even though it hasn’t exactly been the best year for marijuana stocks, cannabis is still projected to be one of the fastest-growing industries over the next decade. Worldwide weed sales have more than tripled, from $3.4 billion to $10.9 billion between 2014 and 2018, and Wall Street has forecast that sales will grow to between $50 billion and $200 billion by 2030..3 billion medical)
- Washington: $1.1 billion (not broken down into a recreational and medical component)
- Florida: $1 billion (all medical marijuana)
- Michigan: $1 billion (all medical marijuana)
- Nevada: $770 million ($700 million recreational, $70 million medical)
- Oregon: $752 million ($707 million recreational, $45 million medical)
- Arizona: $705 million (all medical marijuana)
- Massachusetts: $484 million ($250 million recreational, $234 million medical)
- Pennsylvania: $298 million (all medical marijuana)
Image source: Getty Images.
Nevada’s rapid ascent in the post-adult-use legalization environment is what encouraged Planet 13 Holdings (OTC:PLNH.F) to open up a retail shop like nothing we’ve ever seen before. The Planet 13 SuperStore just west of the Las Vegas Strip will span 112,000 square feet when complete and house everything from a consumer-facing processing center to a coffee shop and pizzeria. The experience Planet 13 can provide is unparalleled, and the fact that this single store is accounting for 9% of Nevada’s total weed sales is proof.
Image source: Getty Images.
Five of these states should generate at least $1 billion in sales this year.