The Legal DoseSM : U.S. Cannabis - Total Retail Sales
As medical and recreational cannabis markets continue to expand throughout the country and mature, total retail sales of cannabis are projected to top $8 billion – $10 billion by the end of the calendar year in 2018 (which is an increase of almost 50% over 2017). While sales are projected to continue along a steady upward trend year over year through 2022, revenues received from recreational sales of cannabis are expected to eclipse medical cannabis revenues for the first time in 2018 and continue to grow at an accelerated rate for the foreseeable future. The total impact of California’s massive cannabis market continues to be a moving target for analysts, but revenues generated from the sales of medical and recreational cannabis nationwide are projected to exceed $20 billion by the end of the calendar year 20221.
1This CA “wildcard” analysis is from the Marijuana Business Daily Factbook (pp. 2-3).
For any questions on this topic or Cannabis Law, please contact Andrew Robinson at or 301.575.0321
ABOUT ANDREW ROBINSON
Andrew Robinson is a Principal in the Real Estate Law And Transactions group. He focuses on land use cases as well as areas of administrative and construction law. Mr. Robinson has experience representing clients facing homeowner association, landlord-tenant or construction disputes. He has assisted clients in processing subdivision and condominium development as well as in planning and zoning matters. Additionally, clients turn to Mr. Robinson for complex real estate transactions, commercial leasing, and general litigation
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 170 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
You can connect with Offit Kurman via our Blog, Facebook, Twitter, Google+, YouTube, and LinkedIn pages. You can also sign up to receive Law Matters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
MARYLAND | PENNSYLVANIA | VIRGINIA | NEW JERSEY | NEW YORK | DELAWARE | WASHINGTON, DC