California has the biggest cannabis market in the United States currently.
They are selling over $3.8 billion in medical and recreational cannabis products, followed by Colorado, and other regions. And Arizona is coming up quick.
By 2025 it is still estimated that Cali will control a large portion of the market. However, things are difficult for some cannabis businesses in Cali who have been struggling.
Cannabis businesses in Cali have been pushing for cannabis tax reform.
They say that the unfair and excessive taxation in the industry is harming their businesses severely, and even the governor has said he might be in favor of overhauling the system.
With prices so high it leaves people accessing the black market and this is one thing authorities are looking to address, by continually squeezing out that market and its business. But excessive charges on products in the legal market aren't making it easy.
Is the reform going to be enough to fix problems in Cali? For now many businesses are still thriving in the region.
And others around the U.S. are also getting their start, like Arizona who is looking to become one of the biggest markets.
Arizona has already sold more than $1.3 billion in their legal market from cannabis. This has also added thousands of new jobs in one state alone that welcomes cannabis legalization. This means tens of thousands of jobs are being created around the country, possibly hundreds of thousands of we see federal reform too.
Whether it be money motivations or a change of mind on the war on drugs policy, it is obvious that the green wave of legalization is still spreading and this isn't a left or right issue, individuals all over the country can benefit from this market in one way or another.
Recreational sales of cannabis haven't been authorized for that long in the area and already they are breaking cannabis sales records in Arizona. You can also find dozens of dispensaries scattered around the state looking to meet the need of cannabis consumers.
Sources:
https://www.statista.com/statistics/1060110/us-share-of-legal-cannabis-by-state/
https://www.fool.com/investing/2020/01/25/the-10-top-selling-cannabis-states-in-2020.aspx
https://www.12news.com/article/news/local/marijuana/arizona-cannabis-industry-is-booming-report-says/75-9210a985-7b33-4281-a570-0e374becab9f
