What Went Right, What Went Wrong, And What Went Sideways: 2022 In Cannabis
A look back at some of this year’s milestones for the turbulent marijuana trade
The past 12 months have been many things for the cannabis industry, but uneventful is not one.
Since December 2021, the U.S. cannabis industry experienced a wealth of both highs and lows, and heading into next year, it is poised for both more growth and painful contraction, several industry experts agreed.
But as 2022 comes to a close, it’s worth a quick look back at some of the milestones the year has wrought for the turbulent marijuana trade and its participants.
What Went Right
Maryland and Missouri legalized adult use.
These two states were the only ones out of five ballot measures in November to succeed with voters, but they bring the new tally of U.S. states that have legalized adult-use cannabis to 21, along with Washington, D.C. and two U.S. territories: Guam and the Northern Mariana Islands.
The victories were another reminder of the overwhelming popular sentiment in favor of liberalizing marijuana laws, and according to the Marijuana Policy Project, it’s the sixth straight national election that’s held at least one statewide victory for cannabis reform.
Six new U.S. state recreational cannabis markets launched.
In chronological order:
- Montana launched its recreational market on New Year’s Day 2022
- New Mexico followed on April 1
- New Jersey was close behind on April 21
- Vermont joined the adult-use sales crowd on Oct. 1
- Rhode Island launched on Dec. 1
- New York is bringing up the rear, with its anticipated launch on Dec. 29
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