The California State Fair made history this summer by allowing on-site cannabis sales and consumption. Oregon was the first state to permit a recreational cannabis exhibit back in 2016, however, Oregon’s State Fair did not permit on-site sales and consumption.
“Approximately 80 of California’s best brands—including more than half from craft, legacy and social equity operators— are being sold onsite through the Embarc dispensary to create a 360° activation that enhances the existing education and advocacy platform at the California Cannabis Experience.” event organizers stated in a press release.
“Medal winners in each of the 44 cannabis sub-categories are now vying for 9 prestigious Golden Bear Awards, which were determined by Budist’s panel of judges and will be announced at a private, seated awards show on July 27. The awards ceremony is being executed in partnership with GreenState, FairPlay Ventures, Nabis, Treez and CCell.” the press release also stated.
“As part of this commitment to consumer education and awareness, this year’s cannabis competition was expanded to include product categories for pre-rolls, concentrates, cartridges, edibles, beverages and wellness products in addition to flower, enhancing the science-based testing with additional judging by a panel of experts. With more than 500 entries—double the number compared to last year—the California State Fair Cannabis Awards is the largest state-sanctioned cannabis competition of its kind.” Embarc stated in a previous press release.
The United States adult-use cannabis industry has generated over $20 billion in total tax revenue since the first legal recreational cannabis purchase was made in Colorado on January 1st, 2014 according to a report by the Marijuana Policy Project.
“Through the first quarter of 2024, states have reported a combined total of more than $20 billion in tax revenue from legal, adult-use cannabis sales. In 2023 alone, legalization states generated more than $4 billion in cannabis tax revenue from adult-use sales, which is the most revenue generated by cannabis sales in a single year.” the Marijuana Policy Project stated in a press release.
79% of people living in the United States lived in a county with at least one regulated cannabis dispensary according to an analysis by the Pew Research Center. The Pew Research Center also found the following:
- 74% of people in the U.S. live in a state where recreational or medical cannabis is legal
- There are nearly 15,000 cannabis dispensaries in the U.S.
- California has the most overall dispensaries (3,659)
- Oklahoma has the most dispensaries per capita (36 dispensaries for every 100,000 residents)
Total legal cannabis sales in the United States are expected to reach $31.4 billion in 2024 according to a recent analysis by Whitney Economics. Additionally, leading cannabis jobs platform Vangst, in conjunction with Whitney Economics, estimates that the legal cannabis industry now supports 440,445 full time-equivalent cannabis jobs in the United States.
Whitney Economics also projects the following legal cannabis sales figures in the United States for the coming years:
- 2024: $31.4 billion (9.1% growth from 2023)
- 2025: $35.2 billion (12.1% growth from 2024)
- 2030: $67.2 billion
- 2035: $87.0 billion
The emerging legal cannabis industry in the United States is projected to add roughly $112 billion to the nation’s economy in 2024 according to an analysis by MJBiz Daily. The projection is part of the company’s 2024 MJBiz Factbook.
“The total U.S. economic impact generated by regulated marijuana sales could top $112.4 billion in 2024, about 12% more than last year,” MJBiz stated in its initial reporting.