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US cannabis business licenses down 6% in first quarter of 2024

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The number of active U.S. cannabis business licenses continued to shrink in early 2024, according to CRB Monitor, a marijuana intelligence firm that tracks and monitors licenses in the regulated industry.

Total active licenses – including those in regulated medical and recreational marijuana markets – fell 6% from the fourth quarter of 2023 and by 10% from the first quarter of last year.

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The latest licensing numbers mark the fifth consecutive quarter of declines; the number of business permits began shrinking in 2022.

License totals declined on a year-over-year basis for the first time in 2023, when the number of active permits fell 4% compared to 2022 numbers.

The licensing declines come after years of nearly double-digit growth in the rapidly expanding marijuana

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Marijuana Business Daily

Why 2025 could be a banner year for cannabis investors

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Tiby Erdely (Courtesy photo)

(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Cannabis capital markets have faced significant challenges over the past few years.

As investors who have been actively involved in the industry since 2019, we have had the privilege of experiencing every market cycle – from euphoric highs to sobering lows.

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Despite these fluctuations, today’s market environment presents an unparalleled opportunity for discerning investors, thanks to unique deal structures, compelling valuations and the ability to identify and back exceptional management teams.

Challenges and opportunities

The marijuana industry’s struggles with access to capital have fundamentally reshaped the competitive landscape.

Over the past two years, funding sources have dried up, leaving many companies to adapt

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Marijuana Business Daily

Massachusetts’ adult-use marijuana sales topped $1.6 billion in 2024

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Marijuana retailers in Massachusetts recorded $1.65 billion in sales of adult-use products between Jan. 1, 2024, and Jan. 5, 2025.

That’s according to data from the state’s Cannabis Control Commission, which noted that recreational cannabis sales in December 2024 reached $140.2 million, the third-highest monthly total since Massachusetts legalized an adult-use market in November 2018.

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Other top sales months were August 2024 ($147.6 million) and July 2024 ($142.8 million).

During the week ended Jan. 5, 2025, flower represented 40.5% of sales, vapes 19% and pre-rolls 12.6%, followed by edibles and concentrates.

In April, Massachusetts cannabis regulators announced that adult-use sales had surpassed $6 billion since the market launched.

According to the latest figures, recreational cannabis sales in Massachusetts now top $7.2 billion.

Despite

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Trudeau’s departure is a turning point for Canada’s cannabis industry

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Deepak Anand (Courtesy photo)

As Canada’s cannabis industry stands at a pivotal crossroads, the impending departure of Prime Minister Justin Trudeau marks the end of an era that reshaped Canada’s relationship with the plant.

Trudeau’s bold decision to legalize recreational cannabis in 2018 not only transformed the nation’s social and economic landscape but also established it as a global pioneer in marijuana reform: Canada remains the only G7 nation to have federally legalized the plant both for medical and adult-use purposes.

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The impact of cannabis legalization on Trudeau’s legacy is undeniable.

Recent polls indicate that 62% of Canadians support cannabis legalization, a testament to

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