Business of Cannabis (Scholarship)
The market value of the U.S. cannabis industry is projected to reach $30 billion annually by 2025, according to industry research group New Frontier Data. This projection comes at a time when cannabis remains federally illegal despite the legalization of medical marijuana by 33 states and Washington, D.C., and the legalization of adult-use cannabis (sometimes called recreational use) programs by 11 states and Washington, D.C.
As cannabis-legalization movements expand into new states and some members of Congress advocate for reform and even federal legalization, the cannabis industry could soon break into new markets as well.
Key takeaway: The cannabis industry is a multibillion-dollar business that’s poised to grow rapidly as new markets open and more states legalize both medical and adult-use programs.