From High Times to High Profits: America’s Top States for Cannabis Consumers and Sellers

With the American cannabis industry booming, where is it growing the most this year? To find out, we analyzed revenue potential across all 50 U.S. states and pinpointed where consumers can find the most value for the best cannabis products. This article shares our findings and offers insights into the evolving market, highlighting business opportunities and providing consumer guidance for cannabis commerce in 2024.

Note: Cannabis legality varies widely by state, with some permitting medical use only, others allowing recreational use, and a few prohibiting use altogether. This legislation patchwork reflects diverse attitudes and policies toward cannabis, ranging from regulated markets to complete bans.

Key Takeaways

• The average national cost of a high-quality joint in America is $7.57.
• The average national cost of a high-quality ounce of cannabis in America is $325.
• Alaska, Colorado, and Oklahoma are projected to have the highest potential revenue from cannabis businesses as a percentage of total state revenue in 2024.
• North Dakota, Hawaii, and Delaware are projected to have the lowest revenue potential from cannabis businesses in 2024.
• Oregon, Washington, and Colorado are the states with the most affordable joints of high-quality cannabis.
• The District of Columbia, North Dakota, and Virginia are the locations with the least affordable joints of high-quality cannabis.

Cannabis Business Revenue Potential

• Alaska, Colorado, and Oklahoma are projected to have the highest potential revenue from cannabis businesses as a percentage of total state revenue in 2024.
• North Dakota, Hawaii, and Delaware are projected to have the lowest revenue potential from cannabis businesses in 2024.

Cannabis Affordability by State

• The average national cost of a high-quality joint in America is $7.57.
• The average national cost of a high-quality ounce of cannabis in America is $325.
• Oregon, Washington, and Colorado are the states with the most affordable joints of high-quality cannabis.
• The District of Columbia, North Dakota, and Virginia are the locations with the least affordable joints of high-quality cannabis.

Methodology

Our 2024 cannabis industry analysis utilized data from two primary sources. First, we examined the revenue potential for cannabis businesses using figures from taxfoundation.org, calculating it as a percentage of each state’s total revenue potential for comparison. Second, we assessed the cost of cannabis in various states through information from nuggmd.com.

About Lance Surety Bonds

Lance Surety Bonds offers hassle-free online bonding services, providing instant quotes for a wide range of surety bonds across all 50 states. We specialize in securing the lowest rates, even for those with challenging credit situations, through exclusive programs. Our expertise spans various bond types, including cannabis dispensary bonds, and other license bonds , tailored to meet individual and business needs efficiently.

Fair Use Statement

If you’re intrigued by the future possibilities of the cannabis market, we encourage sharing our findings to spark discussion and insight. Please distribute this information for noncommercial purposes and include a link back to our original article so your audience can explore the full scope of our research and conclusions.