The American cannabis industry continued to contract in the third quarter of 2025 thanks largely to a cultivation exodus, according to licensing data from intelligence firm CRB Monitor.
The number of active cannabis business licenses in the U.S. fell to 37,555, a 1% decline from the previous quarter, continuing a multi-year slide that began at the end of 2022.
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Over the past two years, the total number of active licenses nationwide fell by 13%.
Marijuana growers accounted for the majority of license losses during that period. Cultivation permits tumbled by 24%, or just over 5,000 licenses, since the third quarter of 2023, while retail licenses dropped by only 330.
At the same time, the prospect of future growth has weakened. Approved, pending and pre-licensing
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