Texas medical marijuana expansion measure clears state House

The total U.S. economic impact generated by cannabis sales is expected to top $100 billion in 2023, up more than 12% from last year, according to a fresh analysis from the newly published MJBiz Factbook.

Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri and Kentucky.

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To measure the industry’s economic impact, MJBizDaily analyzed similar industries, consulted with economists and applied a standard multiplier of 2.8 on projected recreational and medical marijuana retail sales.

The projections are a best estimate given the unique nature of the rapidly expanding marijuana industry, which is governed by a patchwork of state laws but remains illegal under federal law.

Marijuana businesses encompass a range of agricultural, manufacturing and retail operators as

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