Cy Scott is co-founder and chief executive officer at Headset Inc., turning retail data into real-time cannabis market insights. In the Midwest, Ohio has the potential to be the fastest growing U.S. cannabis market by 2025. This year marks the tenth anniversary of Colorado and Washington legalizing adult-use cannabis and jumpstarting the nationwide legalization movement. As the U.S. cannabis market matures, states including Florida, New York, New Jersey, Ohio, and Virginia are projected to benefit the most. An existing medical market infrastructure coupled with an adult population of more than six million will allow the state’s cannabis market to amass $1.3 billion in spending power by 2025.
This year marks the tenth anniversary of Colorado and Washington legalizing adult-use cannabis and jumpstarting the nationwide legalization movement. While it is useful to reflect on the industry’s progress within such a short period of time, it is also important to look forward and understand how the U.S. cannabis market will continue to grow as the country continues to pull ahead as a global market leader.
How is the U.S. cannabis market projected to grow?
The 2020s will be seen as a period of exponential growth. At the beginning of the decade, the United States cannabis industry produced approximately $18.5...
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