1. **Significance of April 20 for Cannabis Companies**
- In the ten years since Colorado pioneered recreational cannabis legalization, the industry's market size has soared to over $30 billion.
- More than half of Americans now reside in states where recreational cannabis is legal, signaling substantial market potential.
2. **Industry Growth and Recognition**
- Participation in collaborations and partnerships has become instrumental for companies in the legal marijuana sector.
- Some firms have secured spots on Inc.'s list of fastest-growing private companies in America, showcasing the industry's rapid expansion.
3. **Success Stories: Jeeter and Blazy Susan**
- **Jeeter:** Known for its innovative approaches, Jeeter has excelled through strategic collaborations. Notably, their partnership with Preferred Gardens resulted in the exceptional Jeeter Red Label cannabis strains.
- **Blazy Susan:** After a prosperous partnership with the Grateful Dead, Blazy Susan witnessed outstanding sales figures. This success prompted the founder to explore further licensing opportunities, enhancing the brand's market reach.
4. **East Coast Collaborations**
- Companies like Ayrloom in New York have set a precedent for cooperation, supporting local farmers in launching new cannabis products.
- Leveraging their processing expertise, Ayrloom has fostered a network of growers to deliver high-quality branded cannabis to dispensaries.
5. **Advancing Interests and Innovation**
- Ayrloom's collaboration with other processing facilities showcases the industry's collective effort to advocate for regulatory changes and industry standards.
- Proactive strategies, like engaging budtenders and focusing on educational marketing, are key elements in companies like Ayrloom and Jeeter's market outreach.
6. **Social Responsibility and Industry Transformation**
- Initiatives like Travel Agency's collaborations with justice-involved licensees demonstrate a commitment to social impact and community upliftment.
- The evolving landscape aims to transition the cannabis industry from gray-market dynamics to a more structured and responsible business environment.
In conclusion, the cannabis industry's emphasis on collaborations and partnerships not only drives innovation but also fosters a sense of community and shared progress. This collaborative spirit not only boosts individual businesses but enriches the industry as a whole, setting a precedent for a more inclusive and sustainable future.
The use and possession of marijuana is illegal under U.S. federal law, but 24 states and the District of Columbia have legalized the drug for recreational purposes, according to the National Organization for the Reform of Marijuana Laws (NORML), an advocacy group that tracks state-level legislation on the issue. 38 states and the District of Columbia have regulated cannabis for medical use.
According to a Pew Research Center survey, an overwhelming majority of adults (88%) say either that marijuana should be legal for medical use only (32%) or that it should be legal for medical and recreational use (57%).
Where does the nation stand on marijuana use?
5 states are moving toward legalizing recreational marijuana in 2024
Florida
Smart & Safe Florida collected more than 1 million petition signatures to get a measure legalizing "non-medical personal use of marijuana products and marijuana accessories by an adult" on the ballot. On April 1, the state's Supreme Court approved the constitutional amendment know as Amendment 3. In November, voters will be able to decide whether recreational marijuana will be available in Florida to anyone 21 or older. But for the proposal to become law, it requires at least 60% of the vote.
Hawaii
Hawaii’s state Senate passed a bill in March to legalize recreational marijuana by Jan 1, 2026. Senators approved the measure 19-6. Hawaii’s Gov. Josh Green said he would sign the bill into law, but the bill is expected to meet challenges in the House.
New Hampshire
A bill passed by the New Hampshire House on April 11 has again endorsed legalizing marijuana and would allow its use by adults. The bill now heads to the state Senate, where it has never been voted on. Last May, Gov Chris Sununu said he now supports legalizing recreational marijuana. “Knowing that a majority of our residents support legalization, it is reasonable to assume change is inevitable,” Sununu said. “To ignore this reality would be shortsighted and harmful. That is why, with the right policy and framework in place, I stand ready to sign a legalization bill that puts the state of New Hampshire in the driver’s seat, focusing on harm reduction − not profits.”
Pennsylvania
In early February, Democratic Gov. Josh Shapiro, in his state budget pitch, called for the Pennsylvania Legislature to legalize marijuana. A bill is now being considered by state lawmakers, according to Florida Today and SpotlightPA
South Dakota
For the third time, South Dakotans for Better Marijuana Laws will try to put marijuana legalization on the ballot. The group needs to submit 17,508 signatures by May 7 to put marijuana legalization on the ballot for a vote on Nov. 5. They were successful in getting the initiative on the ballot in 2020, but it was later overturned by the state Supreme Court. Measure 27 was defeated in 2022 in the midterm elections.