Marijuana industry will add $123.6 billion to US economy this year
The total U.S. economic impact of regulated marijuana industry 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.
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.
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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.
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 could destabilize the cannabis industry in 2025 is a broader economic recession, which seems more likely now than it did at this time in 2024.
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