Federal legalization of medical and adult-use cannabis will create $86 billion in additional U.S. tax revenue and a $26 billion annual U.S. cannabis market by 2025, according to a report released Jan. 29.

New Frontier Data, which compiles business metrics for the global cannabis industry, issued economic data detailing the potential impact of federal cannabis regulation on key industry sectors in the United States.

The report, released during a presentation with Congressmen Earl Blumenauer, D-Oregon, and Lou Correa, D-California, at the National Press Club in Washington, D.C.

Also presenting at the briefing by New Frontier Data and The Liason Group were cannabis testing lab Steep Hill and U.S. tax firm CohnReznick. 

Click here to read the complete article

North Bay Business Journal

Recent News Articles

Thursday January 17

Pot deliveries OK'd into Calif. communities that ban sales - Cannabis News

in Law & Crime

by Bruce Kennedy - Editor in Chief

California endorsed a rule Wednesday that will allow home marijuana deliveries statewide, even into communities…

1280 hits

Thursday January 17

Minnesota farmers high on hemp's potential - Cannabis News

in CBD & Hemp

by Bruce Kennedy - Editor in Chief

A month after the latest farm bill legalized industrial hemp as a crop plant, Minnesota's…

1962 hits

Thursday January 17

Bob Marley-branded drinks set to stir up cannabis-infused beverage market - Cannabis News

in Finance

by Bruce Kennedy - Editor in Chief

Here's a brand likely to lively up the cannabis-infused drink marketplace: Marley.

1567 hits

Thursday January 17

Cannabis trade association debuts in Michigan - Cannabis News

in Cannabis News

by Bruce Kennedy - Editor in Chief

A new statewide trade association has been established to advocate for Michigan’s developing cannabis industry.

2002 hits

Friday January 18

Canadians Spent More Than $1 Billion on Legal Weed in 2018, Report Says - Cannabis…

in World News

by Bruce Kennedy - Editor in Chief

Canadians spent $1.6 billion [$1.2 billion USD] on legal weed in 2018, more than double…

1168 hits