The cannabis market is booming—not just across the United States, but all over the world. In domino fashion, stigmas are falling and people are embracing a new perspective on cannabis. Not long ago, the war on cannabis was in full throttle. Now, old-school growers and opportunistic entrepreneurs have stepped forward to claim a piece of the proverbial pie.
It’s important to examine data for how states fare after launching a legalized cannabis market. Pre-existing cannabis markets, like in Colorado and California, will exhibit different trends over time than brand-new markets like Oklahoma. For instance, the Washington state market grew 100 percent from 2015 to 2016. The following year, the rate declined to about 33 percent. Going into 2018, the growth estimate was about 10 percent, according to Headset. It’s easy to see the trend: an initial explosion cools down over time. Who is still standing once growth plateaus? That’s the important question.
Cannabis legalization presents a massive opportunity, so it’s no surprise big capital and investment is rolling in across borders and state lines. Multi-state operators (MSOs) are growing in size. Take Curaleaf, for example, which plans to operate seventy-one dispensaries in fifteen states by the end of 2020. This is a new kind of cannabis business. They scale by acquiring licenses and operators. Market share can be bought and sold like any other commodity.
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