Cannabis Industry's $130B Growth Potential: Top States For Investment As Financial Institutions Set To Earn Billions In Interest Revenue, New Report Reveals
A new report released on Tuesday projects that the U.S. cannabis industry will need between $65.6 billion and $130.7 billion in sustainable growth capital to support new cannabis businesses and help refinance existing ones over the next decade.The report from Whitney Economics and backed by CTrust and Green Check said the market will generate roughly $1 billion to $2.4 billion in potential interest revenue for financial institutions willing to lend to cannabis businesses, over the same period.The U.S. cannabis retail sales are expected to grow from $28.8 billion in 2023 to $87 billion by 2035, according to the published analysis. To fuel the growth, the U.S. cannabis industry could add 25,000 to 30,000 licenses to approximately 40,000 current licensees.
