Dale Schafer Law News – 5/3/22

#cannabisindustry – ““Cannabis is medically legal in 37 states, but for purposes of this report we focused on operating adult-use states—the 11 states where any adult can walk into a licensed store and buy cannabis—for salience to the general public,” the report’s authors wrote. “In those 11 adult-use states, cannabis supports 13,042 licensed farms that harvested 2,278 metric tons of marijuana last year. That amount would fill 57 Olympic swimming pools, or over 11,000 dump trucks stretching for 36 miles—and it’s returning $6,175,000,000 to American farmers every year.”
That figure of a little more than $6 billion “ranks (cannabis) as the fifth most valuable crop in the United States,” trailing corn ($61 billion), soybeans ($46 billion), hay ($17.3 billion), and wheat ($9.3 billion) but outpacing cotton ($4.7 billion), rice ($3.1 billion), and peanuts ($1.3 billion).”