Investor Presentaiton
2025e
Market Size
Projection
(Legal, $B)
7.8
CALIFORNIA: LARGEST SINGLE US CANNABIS MARKET
2022a
Market Size
$5.3B (Legal)*
THE LEGAL
CALIFORNIA
MARKET I N
I S MORE
THAN TWICE THE SIZE
O F THE NEXT BIGGEST
MARKET;
ALMOST AS LARGE A S
THE NEXT
STATES
THREE
COMBINED
THE
ILLEGAL
MARKET I N
CALIFORNIA I S ESTIMATED
TO BE 2 X 3 X THE SIZE OF
THE LEGAL MARKET,
REPRESENTING HUGE
POTENTIAL UPSIDE FOR
LEGAL BRANDS A S MORE AND
MORE COUNTIES LEGALIZE
DISPENSARIES IN THEIR
JURISDICTIONS
3.2
2.9
2.8
2.5
2.4
2.2
1.9
1.7
17
California
Florida
New York
Source: Headset forecast for 2025 US Market Forecasts, as of February 2022
* California Department of Tax and Fee Administration, Legal Cannabis Retail Revenues for 2022
Arizona
Illinois
Michigan
Colorado
Pennsylvania
Washington
Massachusetts
1.7 1.6
1.6
1.4 1.3 1.3
Ohio
New Jersey
Oregon
Virginia
Oklahoma
Nevada
1.1
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