Florida’s medical cannabis marketplace generated an estimated $1.3 billion in sales last year, ranking third in the country for 2020 cannabis sales.
Although Florida has just a medical cannabis system, the state emerged as one of the nation’s most active cannabis markets in 2020, according to the recent cannabis jobs report by Leafly and Whitney Economics.
Florida ranked third in the country for cannabis sales in 2020 with an estimated total reaching $1.3 billion, only behind Colorado and California, which both have adult-use cannabis markets and have had medical cannabis systems since the 1990s.
“With a state population of nearly 22 million, Florida could reasonably double its current total of cannabis jobs if it chose to legalize for all adults.” — Excerpt from the Leafly and Whitney Economics job report
Despite the high sales numbers, Florida’s medical cannabis structure has led to some issues. Additionally, there are a handful of adult-use and medical cannabis reform bills currently stalled in the Florida legislature.
Currently, a case working its way through the courts seeks to overturn the state’s vertically integrated regulatory structure on grounds that it is unconstitutional, The Center Square reports. Already having won its challenge in Tallahassee District Court, the case will be considered next by the Florida Supreme Court on March 1.
At least one bill seeking to limit THC levels in medical cannabis products will reach committee consideration, however, setting up a potential contest between the growing cannabis prevention movement, a tax-hungry state budget, and medical cannabis patients.