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Marijuana industry will add $123.6 billion to US economy this year

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The total U.S. economic impact of regulated marijuana sales could top $123.6 billion in 2025, about 9% more than last year, according to a newly released MJBiz Factbook update.

While the overall industry continues to struggle – especially in some Western states – expanding markets such as New York and Ohio will add stability going into 2025.

Direct medical and recreational marijuana sales are estimated to reach $35.3 billion in 2025 with an additional $88.3 billion added to the broader economy.

Hopes for a breakthrough moment in 2024 never came for the cannabis industry as Congress failed to pass meaningful reform and the U.S. Drug Enforcement Administration fumbled reclassifying marijuana as a legitimate medicine.

That said, recreational marijuana is available in 24 states, with markets such as Minnesota opening soon.

Eastern markets such as New York and Ohio have yet to reach their full potential, and declining sales in California and Colorado somewhat stabilized last year.

The only thing that could destabilize the cannabis industry in 2025 is a broader economic recession, which seems more likely now than it did at this time in 2024. Read story >

More Headlines

• Tilray is exiting New Zealand's medical cannabis market to focus on Australia. Read story >
• Maryland governor approves marijuana consumption lounges but with no smoking. Read story >

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P O L I C Y

Rescheduling or descheduling: What's impact on industry?

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The possible reclassification of marijuana under the federal Controlled Substances Act is sparking debate about dismantling barriers to interstate commerce and the future of the industry.

While many states have created regulated marijuana markets for medical or recreational use or both, federal law remains a roadblock to nationwide market integration.

According to a report titled "Where Will Weed Win," the future of the industry depends on federal regulatory outcomes.

The future of rescheduling or descheduling marijuana remains uncertain, with many executives and operators in the $32 billion marijuana industry wondering whether it will happen under the Trump administration.

Opinions vary about the impact of rescheduling or descheduling will have on the marijuana industry. Read story >

L E G A L

Doctors who support rescheduling drop lawsuit against DEA

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A group of medical professionals who support rescheduling marijuana have dropped a lawsuit against the U.S. Drug Enforcement Administration that, among other things, accused the agency of rigging the process against changing the drug's status under federal law.

Despite voluntarily dismissing the suit, Doctors for Drug Policy Reform (D4DPR) scored "a major win for transparency and accountability" by revealing what the litigants believe is DEA bias, according to Dr. Bryon Adinoff, the group's president.

"The cannabis advocacy community has long questioned the DEA's objectivity, and these documents confirm those concerns," he said.

"Our goal was to expose the agency's improper conduct – and we succeeded." Read story >

P O L I C Y

How will Minnesota's adult-use cannabis market shake out?

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The adult-use cannabis market in Minnesota could end up mirroring the state's celebrated craft beer scene.

The state's two medical marijuana companies – multistate operators Green Thumb Industries and Vireo Growth – were prohibited from converting their licenses to recreational because lawmakers want small, independent businesses to have an opportunity to participate in the industry.

"A lot of the talk was to create a craft cannabis market along the lines of Minnesota's microbrewery market," said Jason Tarasek, a Minneapolis-based partner with marijuana law firm Vicente.

To encourage the industry to develop like Minnesota's craft brewing sector has, regulators didn't cap the number of microbusiness licenses it can issue.

Cannabis microbusinesses can grow, make, sell and buy marijuana, lower-potency hemp edibles and hemp-derived consumer products. They're also allowed to have on-site lounges where customers can use marijuana.

But they don't have to do all those things. Read story >

S T R A T E G Y

Former cannabis executives share tips for successful exits

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The green rush of the early cannabis industry created a wave of entrepreneurs who rode the tide of legalization to significant success.

Now, as the industry matures, a growing number of those pioneers are leveraging their hard-earned capital to explore new horizons.

MJBizDaily spoke with five founders of cannabis businesses about their decisions to exit their operations.

From new companies to foundations, these five are demonstrating that their entrepreneurial spirit extends beyond the realm of cannabis.

One thing they all have in common is exiting their companies at the right time, a luxury many founders don't have today. Read story >

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R E S O U R C E S

MJBizDaily is the leading resource for the cannabis industry, cited by The Wall Street Journal, Forbes and Harvard Business Review. MJBiz also produces the No. 1 cannabis business conference, MJBizCon.

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