In this article, we are going to discuss the city with the highest weed consumption in the US. If you want to read about other cities that smoke the most pot, check out our complete list of the 20 Cities with the Highest Weed Consumption in the US.
Cannabis Industry in the United States:
The United States of America is the country that smokes the most weed in the world. The American legal cannabis industry fared well in 2023, as according to Whitney Economics, legal sales across the 38 states that allow some form of regulated marijuana reached $28.8 billion, a 10.3% increase from the previous year. Meanwhile, the legal cannabis industry also added 22,952 new jobs last year – a sign that the business climate has stabilized somewhat nationally after the turmoil of the previous two years. The increasing legalization of cannabis and rising acceptance of its use for medical purposes are the key factors driving the growth of the market.
Growth is also expected to come from new markets, as states like South Dakota, Florida, and Nebraska are expected to have marijuana legalization on November ballots. As of the writing of this article, 24 states have legalized recreational weed in America, in addition to the District of Columbia.
Problems Faced by the Legal Cannabis Industry:
One of the biggest issues faced by the American cannabis industry is federal illegality, which makes the cost of doing business for weed companies higher than any other business. Due to the difference in federal and state marijuana laws, cannabis companies cannot receive traditional banking or loans, forcing them to resort to high-interest options. They also don’t have bankruptcy protections like traditional businesses so when these companies falter, receivership is one of their few options. Similarly, insurance comes with sky-high costs as well.
Another big barrier to making money is the enormous amount of taxes weed companies pay because they’re treated like illegal narcotics traffickers under the federal tax code. The goods also cannot cross state lines and that lack of interstate commerce means companies must build separate farms, factories, and stores in each state where they do business and navigate a rapidly evolving patchwork of state regulations.
H/T: finance.yahoo.com
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