Where Is The Cannabis Market Booming? Here’s New Jersey’s $800M Success Story
In recent years, New Jersey has emerged as a major player in the cannabis industry. According to the state’s official site, its market has reached a milestone of over $2 billion in total sales since 2018, when Governor Phil Murphy signed an executive order to ease medical cannabis regulations.
In 2023 alone, the Garden State achieved $800 million in sales from medicinal and recreational cannabis. New Jersey legalized recreational weed in 2021.
The state’s rapid expansion in the cannabis market results from regulatory actions and market reforms initiated by Murphy’s administration. These measures have constructed a comprehensive framework for both medicinal and recreational cannabis. This structure has established a safe and regulated setting, enhancing consumer trust and drawing business investments.
Benzinga Cannabis Market Spotlight
On June 17, 2024, the cannabis community will gather at the New Brunswick Performing Arts Center for the