The latest assessment in the State of Legal Cannabis Markets report by Arcview and BDS Analytics, the two companies suggest that 20 total states will have recreational cannabis legalization. Despite that only 20 states will have legalized recreational cannabis, the companies believe that a medical cannabis program will be present in all 50 states.
The 20 projected recreational cannabis states are:
- Alaska
- Arizona
- California
- Colorado
- Connecticut
- Delaware
- Illinois
- Maine
- Maryland
- Massachusetts
- Michigan
- Nevada
- New Jersey
- New Mexico
- New York
- Ohio
- Oregon
- Rhode Island
- Vermont
- Washington
This list includes 11 states that have already legalized recreational cannabis. Out of this list, the states that are projected to introduce recreational cannabis by 2024 are:
- Arizona
- Connecticut
- Delaware
- Maryland
- New Jersey
- New Mexico
- New York
- Ohio
- Rhode Island
While California is expected and projected to take the cake with an estimated $7.23 billion in annual cannabis sales by 2024, 12 other states are projected to pass $1 billion by 2024. The state of Nevada has the best opportunity out of the 12 states to hit its projected $1.41 billion in annual sales with its tourism appeal already established through Las Vegas.
Planet 13 Holdings has prepared for this massive draw of customers and built the largest dispensary in the world just off of the Las Vegas Strip. The company has already claimed enough responsibility for 10% of the state’s cannabis sales and intends to duplicate success with its Planet 13 Superstore in Santa Ana, California. Las Vegas’ Planet 13 SuperStore has doubled its daily visitors between the months of November and August.
Green Thumb Industries also decided to prepare for this future of cannabis tourism in Las Vegas through the acquisition of Integral Associates. Green Thumb Industries gained the ownership of Essence brand dispensaries and is currently the only dispensary operator that is allowed directly on the Las Vegas Strip.
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