This up-and-coming East Coast market doesn’t get half as much attention as New York, but it should…
“The citizens of Philadelphia call upon the Pennsylvania General Assembly and the Governor to pass legislation that will decriminalize, regulate, and tax the use, and sale to adults aged 21 years or older, of cannabis for non-medical purposes.”
That statement is now part of Philadelphia’s official city charter after 73% of voters approved a referendum for legalization on Election Day, sending a clear message to lawmakers from the state’s largest city…
Act on cannabis legalization, or defy the wishes of your constituents.
The voters see what I do. They see the incredible potential for profits, increased tax revenue, and economic stimulation that would be created by a fully legal cannabis market in Pennsylvania.
Already, Pennsylvania is up there with some of the hottest up-and-coming adult-use markets in the country – before it even goes recreational – as its medical cannabis consumers are on track to spend over $1 billion in 2021.
Just think, when recreational sales kicked in for Michigan in 2020, sales tripled during that first year. Likewise, Illinois legalized recreational cannabis around the same time, and we saw its market surge 4X from $251 million in medical-only sales to over $1 billion in a matter of 12 months.
Pennsylvania is starting at the $1 billion mark. If history is any indication, that means its first year of combined medical and recreational cannabis sales could reach as high as $3 billion.
And this Philly referendum only adds more fuel to the legalization fire kindling in PA’s state legislature right now, ignited by a bipartisan legalization bill co-sponsored by state Sens. Sharif Street (D-PA) and Dan Laughlin (R-PA) just last month.
With the promise of recreational legalization on the horizon, the folks who get in on Pennsylvania’s top medical cannabis operators now are setting themselves up for massive gains once it’s inevitably passed and the companies dominating the market today get first dibs on the sales.
To your investing success,
Executive Director, National Institute for Cannabis Investors
3 responses to “The Top 3 Cannabis Companies to Own Before Pennsylvania Goes Recreational”
November 10 2021