According to Fortune, the American economy was boosted by $90 billion in 2022 due to the legalization of marijuana. It is anticipated that this figure will rise to nearly $101 billion in 2023. By 2028, the retail cannabis industry could potentially contribute up to $170 billion to the domestic market. For comparison, the global chocolate industry’s market capitalization was approximately $113 billion in 2021.
Furthermore, edible goods, vapes, and other forms of cannabis consumption have become more prevalent than traditional marijuana flower buds. Only 40% of all retail cannabis sales in the United States came from the sale of marijuana flower buds.
Pew Research indicates that a significant majority of Americans, 88%, support legalizing marijuana for both medical and recreational purposes. In contrast, only around 50% of adults in the United States are in favor of stricter gun control laws. Additionally, only one in ten Americans oppose the legalization of cannabis. While political polarization remains evident, 37% of individuals who lean towards the Republican party support recreational marijuana legalization.
