Estimates published in the newly released Marijuana Business Factbook show the total economic impact of legal cannabis sales increasing 181 percent by 2024.
Total U.S. sales could rise as high as $37 billion by 2023, Marijuana Business Daily data finds. Meanwhile, the coronavirus pandemic has thrown a huge curveball at projections.
Consumers are making the best argument that legal marijuana can help reignite the economy by purchasing cannabis products in record numbers across the country.
The state made $172 million in excise tax, sales tax, and licensing fees from cannabis in the 2019 fiscal year, Nevada's Dispensary Association reports.
Illinois and Michigan have seen rising cannabis sales. Meanwhile, in Massachusetts, recreational dispensaries were not deemed "essential" and still face an uncertain timeline for reopening.
