Over $100 billion will be infused into the economy from marijuana this year

Over $100 billion will be infused into the economy from marijuana this year

The marijuana industry continues to grow in the US, and this will hopefully be news that can sway even the most skeptical of politicians when it comes to legalization.

12% more than 2023, the impact of marijuana in 2024 is projected to be at $112.4 billion. This comes even when some mature markets like California and Colorado are facing downturns. The opening of new markets create a huge boom in those areas, and that has made up for the sluggishness elsewhere.

Even more interesting, the outlook for marijuana for the rest of the decade looks to be better and better. This, again, can be attributed to more and more states legalizing cannabis in the years to come.

These numbers have the potential to bolster new legislation, not only at the state level. It’s a pretty good bet to get into the marijuana business at this point, because the only way to go is up. We saw an unrealistic bump during Covid, but now that we’ve mostly recovered from the ripples of that shake-up, we can watch as the industry slowly gets more and more robust.

Read the full analysis at MJBizDaily.

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