Despite Growing Cannabis Sales, Real Estate Investors Aren’t Hooked, Data Shows
Originally published on November 29, 2022 , by Patricia Kirk for WealthManagement.com.
The past year has brought more cannabis legalization in the United States. But is legalization turning into greater real estate investment opportunities?
Two more states, Missouri and Maryland, voted in the November 8 election to make cannabis legal for adult use, making recreational marijuana use legal in 21 states, plus the District of Columbia and Guam. Adding states where medical marijuana is legal brings the total to 38.
As a result, the most recent Marijuana Business Factbook, published by Marijuana Business Daily, projected that sales for the legal U.S. cannabis industry could reach $30 billion in 2023, which is triple the amount of total pot revenue in 2018.