During the last year, the United States (US) cannabis industry has recorded impressive growth and we attribute the increase to medical markets transitioning into recreational markets as well as the maturing and opening of new markets. 

According to BDS analytics, Arizona’s transition to a recreational cannabis market has been a major catalyst for growth. After the state transitioned to the recreational market, cannabis sales in April increased by 68% and jumped to $124.9 million. The state generated more than $52 million of recreational cannabis sales while medical cannabis accounted for more than $73 million which represents a 17% decline when compared to last year. 

Although Nevada reported more than 125% growth on a year-over-year basis, the numbers are being compared to April 2020. We find this to be…

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