The emerging legal cannabis industry in the United States extends beyond state-level legalization to sovereign tribal nations. Many indigenous tribal nations have entered the legal cannabis space in recent years, including launching retail medical and adult-use cannabis outlets.
According to recent reporting by MJBiz Daily, tribally owned cannabis retail outlets increased 25% since 2023.
“Nationwide, the average size for a tribal cannabis store is roughly 4,300 square feet, although sizes range from less than 1,000 square feet to elaborate complexes exceeding 10,000 square feet.” MJBiz Daily stated in its initial reporting.
The industry media outlet reports that roughly three-quarters of the tribes operating cannabis dispensaries also own and operate casinos, with Washington State having the most tribal retailers (23) within its state borders. Nevada reportedly has the second-highest number of tribal stores (10).
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 a newly released 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.
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 new 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.