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Maryland And Missouri The Latest To Approve Adult-Use Sales, California Votes To Add More Dispensaries

November 15, 2022

The U.S. is set to welcome two new adult-use markets after voters approved ballot measures sanctioning sales in Maryland and Missouri last week. Missouri is eyed as a key opportunity because of its well established medical market, offering an infrastructure base from which to expand. According to Grand View Research, the Missouri medical cannabis market size was valued at $290 million in 2021 and is expected to expand at a compound annual growth rate of 23% from 2022 to 2030. The state expects to begin licensing dispensaries for adult-use sales as early as next February.

Maryland likewise has infrastructure in place to ramp up to adult-use sales relatively quickly, with its medical market totaling about $600 million annually. But early reports indicate it might take longer to organize and establish its adult-use segment, with sales not expected to begin before 2024. Meanwhile, voters across California approved 12 local ballot initiatives to expand dispensary access, primarily in the Los Angeles and San Diego areas, with as many as 70 new retail licenses to be created overall. They include an additional 25 licenses approved in Los Angeles County and 20 more in San Diego County, as well as 10 in Huntington Beach.—Daniel Marsteller

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