New Jersey Prepares To Launch $2 Billion Recreational Cannabis Market
The state is positioned to beat rival New York to the punch
New Jersey’s recreational cannabis market is gearing up to launch within weeks and is poised to become one of the largest on the East Coast with annual sales projected to top $2 billion within a few years.
The state is positioned to beat rival New York to the punch and to match, if not exceed, Massachusetts in annual adult-use sales.
But, like most new markets, industry officials are concerned about whether supply will be adequate to meet demand – at least in the early stages.
New Jersey’s adult-use market – approved by voters in November 2020 – is expected to launch with only a handful or so of the state’s existing medical cannabis operators.
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