The number of active U.S. cannabis business licenses – including those in regulated medical and recreational markets – continued to decline through the third quarter of 2024 as reductions in established markets outpaced growth in emerging ones.
The trend could continue into 2025 as the number of approved/pending licenses – an indicator of future growth – also slipped almost 4% during the quarter.
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Active cannabis business licenses in U.S. marijuana markets peaked at 44,300 in late 2022 and have been declining since.
There were roughly 38,600 active cannabis business licenses in the third quarter of 2024, a 1% slide from the previous quarter, according to CRB Monitor’s latest licensing activity report.
Licenses also declined by almost 11% in 2024 in comparison to the
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