Investor Presentaiton
CALIFORNIA: LARGEST SINGLE US CANNABIS MARKET
MARKET IN
I S MORE
CALIFORNIA
2025e
Market Size
Projection
(Legal, $B)
7.8
THE LEGAL
2022a
Market Size
$5.3B (Legal)*
THAN TWICE THE SIZE
OF THE NEXT BIGGEST
MARKET;
ALMOST A S LARGE
A S
THREE
COMBINED
THE NEXT
STATES
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 1.7
1.6
1.6
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
California
Florida
New York
Arizona
Illinois
Michigan
Colorado
Pennsylvania
Washington
Massachusetts
Ohio
New Jersey
Oregon
1.4 1.3 1.3 1.1
Virginia
Oklahoma
Nevada
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