This will only come as a surprise to Australian politicians and listed medical cannabis company executives defending their stock price and opportunity to buy a Merc or Tesla this year.
As many argue it is all one and the same thing…
MJ Biz Report
While the United States has three times as many state medical marijuana markets than adult-use programs, recreational sales are expected to be roughly 30% or more above MMJ in 2020.
Legal adult-use sales in the U.S. likely will top $10 billion this year, while medical sales are expected to bring in $5.8 billion-$7.1 billion, according to estimates from the eighth edition of the Marijuana Business Factbook, available now.
The gap between the two markets continues to grow, with 2019 MMJ sales estimates at $4 billion-$4.9 billion, compared with adult-use sales of $6.6 billion-$8.1 billion. Adult sales first eclipsed MMJ in 2018.
From 2012 to 2020, the number of medical markets in the United States more than doubled, from 18 to 37, while recreational markets increased from two to 12.