Cannabis is a mind-altering drug derived from a plant called “Cannabaceae” and is consumed by either smoking or consuming products that have been infused with chemicals found in the plant, namely THC and CBD. While the drug has had a shaky history with the US government, several states have started legalizing the drug in both medical and recreational use cases due to shifting cultural sentiment about cannabis. For medical use cases, a consultation with a professional is required, and, in most instances, the patient is provided with a cannabis card that serves as a prescription at any authorized dispensary.

As of late 2022, around 38 states have legalized medical cannabis and around 19 states have legalized recreational cannabis. Estimates show that nine more states are slated to legalize recreational cannabis by 2030. This has led to an emergence of a cannabis economy, composed of cultivators, extractors and infusers, specialized retailers, prescribers, and consultants.

Note: Additional sections (such as market sizing and incumbents) can be provided on request.