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International Cannabis Weekly: 261

August 19, 2022

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NEW YORK SET TO BECOME THE NEXT CANNABIS MEGA MARKET

Adult-use cannabis sales in the US are expected to grow from US$18.5 billion to US$58.8 billion by 2026. In Canada, the market is expected to grow from US$4 billion to US$7.6 billion during the same time period.

The biggest opportunity in terms of sheer market size is California, however the states predicted for the fastest growth are New York and Illinois. New York’s incoming adult-use mega-market isn’t going to be ready until 2023 at the earliest, but it should be worth the wait: Prohibition Partners projects the market will reach nearly US$1.5 billion in its first year of sales, and US$2.87 billion by 2025.

To garner further insight on the US, Canadian and Latin America markets, we have a number of premium packages available – including market sizing data for just £1,490.

A free-to-download version of The North American Cannabis Report: 3rd Edition is also available. You can also join us in New York on 3 November for the Business of Cannabis conference, where we will discuss market developments across North America and in particular New York’s emerging mega market.

DOWNLOAD THE REPORT »

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OVER 30 SENATORS HAVE CALLED FOR CANNABIS LEGALISATION IN FRANCE

READ MORE »

NEW YORK CANNABIS REGULATORS APPROVE FIRST PROCESSOR LICENSE

READ MORE »

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Europe

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Stocks

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United States

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Sponsorship

Due for release next month, The European CBD Report will explore the trends, challenges and opportunities in the European CBD industry. We now have unique opportunities available to sponsor this report and promote your business to one of the largest audiences in the global cannabis and CBD industries.

As companies and investors scramble to get a foothold in the market, and as CBD consumption across Europe continues to grow, sponsorship is an invaluable opportunity to position your brand at the forefront of the industry.

BECOME A SPONSOR »

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Canada
  • Toronto-based iAnthus Capital Holdings, Inc. has increased its Q2 revenue by 2% to US$43.5 million.
  • Cannabis retailer Delta 9 Cannabis has announced an agreement to acquire three stores in Manitoba.
  • Canada is set to invest over C$200 million in the medical cannabis market, with a focus on veterans.
  • EnWave Corporation announced that it has signed a technology agreement with The Cannabis Cultivator.
  • Canadian-based Village Farms is looking at other emerging markets outside of North America for growth.
  • Auxly Cannabis Group Inc. has reported better-than-expected sales results for Q2, but net debt is still high.

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LATAM & The Caribbean

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Upcoming Event

Join us with your colleagues or entire team at Business of Cannabis: New York on 3 November and take advantage of our group discount offer. Choose from either ‘3 for 2’ or ‘10 for 6’ offers on tickets and save up to $1,980. 

Explore this exciting corner of the North American cannabis market as we unpick the size of the opportunity, barriers to entry and the benefits that the plant can bring to the wider US population. Secure your group ticket today.

GET GROUP TICKETS »

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APAC

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Africa & The Middle East
  • Medical cannabis patients in Israel are now allowed to smoke cannabis outside their stated address.
  • IM Cannabis Israel reports record second quarter results as revenue increases 114% to C$23.8 million.
  • Gauteng Premier David Makhura has stated that cannabis could hold the key to economic potential in the Vaal.
  • Labat Africa has signed an agreement to fast-track the implementation of various cannabis-related projects.
  • The Supreme Court in Ghana struck out the law on a licence to grow cannabis due to parliament not being transparent.
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