Marijuana industry will add $123.6 billion to US economy this year

The total U.S.economic impact of regulated marijuana sales could top $123.6 billion in 2025, about 9% more than last year, according to a newly released MJBiz Factbook update.

While the overall industry continues to struggle – especially in some Western states – expanding markets such as New York and Ohio will add stability going into 2025. ADVERTISEMENT With more new cannabis markets on the horizon, the industry will add upward of $200 billion in additional spending to the U.S.

economy by 2030.Direct medical and recreational marijuana sales are estimated to reach $35.3 billion in 2025 with an additional $88.3 billion added to the broader economy.

Marijuana sales growth despite lack of regulatory help Hopes for a breakthrough moment in 2024 never came for the cannabis industry as Congress failed to pass meaningful reform and the U.S.Drug Enforcement Administration fumbled reclassifying marijuana as a legitimate medicine.

Voters also largely rejected adult-use legalization – including in Florida, where operators spent nearly $150 million in a losing effort – giving credence to the idea that easy and available reform efforts are a thing of the past.And that explosive growth moment is unlikely in 2025.

Anxiety over price increases from tariffs imposed by the Trump administration are already impacting marijuana consumer confidence.And with the administration’s focus elsewhere, such as on cutting or streamlining government operations, and marijuana rescheduling on hold, it is doubtful any meaningful regulatory change for the cannabis industry will happen in 2025.

ADVERTISEMENT That said, recreational marijuana is available in 24 states, with markets such as Minnesota opening soon.Eastern markets such as New York and Ohio have yet to reach their full potential, and declining sales in California and Colorado somewhat stabilized last year.

The only thing that ...