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.
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