Where Is Cannabis Legal? A Guide To All 50 States:
The legalization of marijuana has spread slowly across the country since 1996, when California became the first state to legalize medical marijuana. Now, 18 states allow for adult-use and 37 allow for medical use. In 2021, legal sales hit $25 billion, according to estimates by analysts at Cowen, and it will grow into ahis year will be an important one, says Matt McGinley, an analyst who covers cannabis at Needham.
“This is such an early-stage industry, every year should be a landmark year at this point,” says McGinley. “The industry will still have a very strong growth rate and we’ll see a number of key markets come online for adult-use in 2022 or set conditions for adult-use in 2023.”“I think the best hope for federal reform is SAFE Banking,” he says, adding he believes there’s a 50/50 chance it passes this year.
McGinley says that if Congress can’t agree on SAFE Banking, which has bi-partisan support, then it’s unlikely that Congress would pass a bill ending prohibition., including Vivien Azer, who leads cannabis coverage for the firm, and Jaret Seiberg, an analyst at Cowen’s Washington research group, lays out a path for federal legalization in 2022.
“We continue to view Washington’s legalization of cannabis as a matter of when, not if,” the reports says, “and it is conceivable this could happen in 2022, either as a result of bipartisan legislation ahead of the November midterm elections, or potentially in the lame duck period that will begin in November 2022 and end in January 2023 when a new Congress is convened.
“We don’t expect that to pick up the 10 Senate GOP votes needed to pass, but its failure should open the door for a more modest compromise bill,” Seibergven though large-scale federal reform is not a sure thing, more states are expected legalize adult use this year.close to legalizing adult-use“We’re very close to being able to, in the month of January, release the framework of a bill that will begin a robust public hearing and vetting process,” Rhode Island House Speaker K.
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