Cannabis industry professionals tell Benzinga that 2021 should be a year of ongoing regulatory movement even as uncertainty lingers due to the Jan. 5 Georgia Senate runoffs. Experst in the space predict a year of reform, setting up for continued progress throughout the decade.
“Get out your flapper girl dresses and top hats; the roaring ’20s are going to be fueled by weed, not booze, this century, and 2022 will be the starting point,” Harborside Inc (OTC: HBORF) co-founder Andrew DeAngelo also elaborated says.
“From a regulatory perspective, more retail will be licensed in 2021 in all legal states, but they may not open until 2022,” he adds. The next waves of markets to open should increase inclusive ownership by 2022.
Several States To Look At
Keep your eye on the Northeast, sources say. It’s ripe for growth after New Jersey passed its ballot measure in November.
Alyssa Jank, U.S. Cannabis Manager at Brightfield Group, says New York and Pennsylvania will follow suit in 2021, along with Maryland and Connecticut.
“All of these states are bordering, or very near, New Jersey, and they likely realize that they will miss out on a big chunk of tax revenue to New Jersey if cannabis is not legalized in their states,” Jank said.
Reform could also occur beyond the Northeast as well.