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U.S. Legal Cannabis Market

Goals

To understand the legal cannabis market in the US in order to present a webinar on categories radio sales teams should expect to grow in 2020.

Early Findings

During our preliminary research, we were able to determine how many states have legalized CBD, medical, and recreational cannabis. In addition, we were able to determine the percentage of Americans that use CBD and the projected growth of this use. Below is an overview of our early findings. We were also able to determine the percentage of Americans that think medical and/or recreational cannabis should be legalized.

Legalization of CBD

  • Hemp-derived CBD is federally legal in all 50 states.
  • Marijuana-derived CBD is legal for recreational use in Alaska, California, Colorado, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, and Washington.
  • Marijuana-derived CBD is legal for medicinal use in 47 states . However, specific regulations for this use varies by state.
  • Marijuana-derived CBD is illegal in Idaho, Nebraska, and South Dakota.

Legalization of Medical Cannabis

  • Medical cannabis is legalized in 33 states and Washington D.C.
  • States that have legalized medical cannabis include Arizona, Utah, and Missouri.
  • A map of the states where medical cannabis is legal can be found here.

Legalization of Recreational Cannabis

  • Recreational cannabis is legal in 11 states and Washington D.C.
  • These states are Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont and Washington.
  • A map of the states where recreational cannabis is legal can be found here.

CBD Use

  • A February 2019 survey of 2,500 adults conducted by Cowen & Co. found that roughly 6.9% of Americans currently use CBD.
  • The survey also found that CBD use is highest among adults 18 and 34 years of age.
  • The survey also found that the percentage of Americans using CBD is expected to increase to 10% by 2025.

Support of Legalizing Cannabis

  • A survey conducted by PSB Research, Civilized, Burson Cohn & Wolfe, and BuzzFeed News found that 84% of Americans favor legalization of cannabis for medical or recreational purposes.
  • The strongest argument in favor of the legalization of cannabis is that it can help people who are sick (72%). This is followed by it bolstering economic growth (46%), it will save police resources (39%), it's safer than alcohol (39%), people should be able to make their own choices when consuming cannabis (36%), and it conserves tax payer money (28%).

Proprietary Research Available

We found some proprietary research from one of our data partners which may be helpful:

Legal Cannabis Market (Medical & Recreational) with Focus on US and Canada: Industry Analysis & Outlook (2018-2022) (Koncept Analytics, $800.00)

If you'd like us to purchase this report on your behalf, just let us know!

Proposed next steps:

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