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U.S. Legal Cannabis Sales Hit Record $17.5B as Legislation Transforms Insurance Outlook May 6, 2021
A new report highlights the opportunity for insurers in cannabis.
New Dawn Risk launched its latest white paper on insurance for the U.S. legal cannabis, CBD and hemp markets. The 2021 report is called “Opportunity knocks at last in the US cannabis insurance market.”
Since the publication of the previous report in 2020, U.S. sales of medical and recreational cannabis have grown exponentially, reaching $17.5 billion in 2020, a 46% increase from 2019. In addition, the legislative landscape in the U.S. has been transformed by the arrival of the pro-cannabis Biden presidency, supported by a Democratic majority in both Houses.