Cannabis industry data company Cannabis Benchmarks tracks the price of legal cannabis flower across United States markets. As of the week ending May 24, 2024, the average price for a pound of legal cannabis flower was $1,031.
“At $1,031 per pound, the U.S. Spot Index is down 4.3% this year from the 2023 closing price of $1,077, and averaging $1,024 per pound. The low of $991 and the high of $1,072 were established just two weeks apart, on March 8th and March 22nd, respectively.” Cannabis Benchmarks stated about the United States flower market.
“Cannabis Benchmarks ®, a division of New Leaf Data Services, is a leading provider of financial, business and industry data for the North American cannabis markets.” Cannabis Benchmarks states on its website.
According to Cannabis Benchmarks, Oregon has the lowest prices for cannabis flower in the nation, even with rising greenhouse cannabis flower prices. Below is more information about the Cannabis Benchmarks US Spot Index:
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.
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.