Tag: united states
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U.S. Cannabis Industry May Save Over $2 Billion A Year On Taxes Under Schedule III
The federal government of the United States recently announced that a plan to reschedule cannabis from Schedule I to Schedule III is moving forward. While the policy change will yield various potential ramifications, a generally accepted effect of rescheduling is the end of state-legal cannabis businesses being subjected to 280E tax provisions. The 280E provision…
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Global Hemp Clothing Market Size Projected To Reach $23.02 Billion By 2031
The global hemp clothing market is projected to experience significant growth in the coming years, reaching an estimated $23.02 billion by 2031 according to a market analysis by Allied Analytics LLP. “The global Hemp Clothing Market Size was valued at $2.29 billion in 2021, and is projected to reach $23.02 billion by 2031, growing at…
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Cannabis Edibles Market Projected To Reach $27.2 Billion By 2030
The global cannabis edibles market is projected to reach $27.2 billion by 2030 according to a market analysis by Fairfield Market Research. For comparison purposes, the same researchers estimated that the global cannabis edibles market was worth $9.6 billion in 2022. “This robust growth will be driven by a multitude of factors, including shifting consumer…
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Cannabis Industry Projected To Add $112.4 Billion To U.S. Economy In 2024
The emerging legal cannabis industry in the United States is projected to add roughly $112 billion to the nation’s economy in 2024 according to a newly released analysis by MJBiz Daily. The projection is part of the company’s 2024 MJBiz Factbook. “The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in…
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Researchers Determine Legal Cannabis Sales Not Associated With Increased Youth Consumption
Currently, 24 states and the District of Columbia have passed adult-use legalization measures, with several states permitting regulated recreational cannabis sales as part of their legalization models. Colorado and Washington State were the first to passed such measures, with legal sales beginning in both states in 2014. According to research recently published by the American…
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How Much Legal Cannabis Was Sold On 4/20 In 2024?
April 20th is the most popular day of the year for cannabis consumption, with the date serving as the annual day of celebration for the global cannabis movement, particularly in the United States where the tradition is reported to have started in the 1970s. Every year licensed cannabis retailers across the country try to gain…
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U.S. Industrial Hemp Market Valued At $291 Million In 2023
The United States Department of Agriculture (USDA) has released its annual hemp industry report. According to the USDA, “In 2023, the value of hemp production in the open and under protection for the United States totaled $291 million, up 18 percent from 2022.” “Planted area for the Nation in 2023 for all utilizations totaled 27,680…
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31% Of Cannabis Consumers Report Spending $100+ Per Month On THC Products
The emerging legal cannabis industry in the United States is spreading thanks to the tireless work of cannabis advocates across the country. Cannabis is now legal for adult-use in 24 states and the District of Columbia, and several more have adopted medical cannabis legalization measures. Cannabis commerce is widespread now too. The Pew Research Center…
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Top 5 Cannabis Industry POS Providers Account For 67% Of U.S. Market Share In 2024
When many people think about the emerging legal cannabis industry, they likely have visions in their mind of large cannabis cultivation facilities and retail dispensaries. While those things are certainly a part of the legal cannabis industry, there is more to the industry than just production and sales. The ancillary cannabis industry that helps provide…
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9% Of United States Adults Report Using Cannabis Regularly
Cannabis remains illegal at the federal level in the United States, however, 24 states and the District of Columbia have modernized their cannabis policies to permit recreational cannabis use by adults. Many more permit cannabis for medical use. The results of a new Gallup survey are out, in which adult cannabis consumers across the United…