Teh legal cannabis industry is projected to continue its steady and consistent rise in 2019. Backed by growing medical sales and partnerships, the industry is poised to bring on more opportunities for investment and development. Take a look at some quick hits and the chart below:
- As of January 1, now 33 states plus the District of Columbia (D.C.) have legalized cannabis for medicinal use, with 10 states and D.C. permitting adult use.
- Medical-use sales are slated to begin in four states (Arkansas, Louisiana, North Dakota, and Ohio).
- Per the November 2018 midterm elections, plans proceed for medical-use sales starting by early 2020 in Missouri and Utah, along with adult-use sales in Michigan.
- U.S. sales of medical- and adult-use cannabis in 2019 are expected to reach $5.9 billion and $7.0 billion, respectively, up 28% (from $4.6 billion) and 21% (from $5.8 billion) from 2018.
- In 2019, the total number of registered U.S. medical cannabis patients is projected to reach 2.4 million, up 26% from 1.9 million patients in 2018.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.