MJBizCon, the world’s largest B2B cannabis event, returned to the Las Vegas Convention Center this morning. The 11th annual MJBizCon kicked off Wednesday morning, welcoming tens of thousands of cannabis professionals to the industry’s premier event. Despite tough economic conditions, industry growth pains and geographic regulatory hurdles, overall sentiment remains cautiously optimistic as the industry matures.
Chris Walsh, CEO and founding editor of MJBiz, addressed MjBizCon attendees with his long-awaited “State of the Industry and Predictions to 2023.”
- Commonwealth Bank reforms to come into effect in 2023
- New York will struggle to curb the illegal market when adult-use is introduced
- Massive consolidation in major markets including Michigan and California
- Biden administration will make real progress on marijuana planning or rescheduling
- Two more states have legalized marijuana, likely Ohio, Pennsylvania or Minnesota
“There is still much to celebrate in this growing market, such as legalization in NSW and potential federal reform,” Walsh said at MjBizCon. “It’s easy to get lost in all the challenges and growing pains of today, but there is still exciting industry growth and opportunity ahead in the long run. A green wave won’t be enough in these economic conditions.”
“Overall, I’m cautiously optimistic. Some of the big players in the industry will be acquired or taken over. Looking ahead, new players will emerge,” concluded Walsh at MjBizCon intro. “As the industry becomes more mainstream and federal reforms emerge, we’ll see big names in retail, consumer products, agriculture and technology come into play.
MJBiz is the leading B2B resource for the cannabis industry. Founded in 2011, it is the most trusted publisher and event organizer serving entrepreneurs and investors in the global cannabis industry. MJBiz presents MJBizCon, the longest-running and largest cannabis trade show in the world. The 2015-2019 events were all listed on Trade Show Executive’s Fastest 50 list and on the Gold 100 list of America’s largest trade shows. The 2023 event returns to Las Vegas, November 29-December 1, 2023.