Charles V. Pyfrom Charles V. Pyfrom (Credit: promesaartstudio / Adobestock.com)

Cannabis sales in 2021 were $26 billion according to flowhub, and are expected to exceed $32 billion in 2022. The industry currently supports over 400,000 jobs. New Frontier Data estimates that the industry’s value could exceed $57 billion by 2030. That’s pretty significant growth for an industry still unregulated at the federal level.

According to the National Conference of State Legislatures, medical marijuana is currently legal in 37 states, three territories and Washington, D.C. Recreational or non-medical use marijuana is legal in 19 states, Washington, D.C., and two territories.

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.