Legal Cannabis Spotlight: Arizona
Since the first dispensary opened there in December of 2012, Arizona’s weed market has grown steadily. As of April 2019, 203,000 Arizonans have enrolled in the state’s medical marijuana program, according to a story on Benzinga. The report also states that, according to BDS Analytics, Arizona’s medical cannabis program generated $581 million in spending in 2018 and is expected to grow to $761 million by 2024.
While there have been challenges in the state, such as the scare around the legality of extracts in 2018, Arizona has handled each potential hang-up well. And now, with a steady upward trend in the market, Arizona is looking hopefully toward the adult-use market. The measure to legalize recreational cannabis will once again be on the ballot in 2020, and many in the state are optimistic it will pass this time, having missed the mark by less than 1% just four years ago.