The number of active U.S. cannabis business licenses continued to shrink in early 2024, according to CRB Monitor, a marijuana intelligence firm that tracks and monitors licenses in the regulated industry.
Total active licenses – including those in regulated medical and recreational marijuana markets – fell 6% from the fourth quarter of 2023 and by 10% from the first quarter of last year.
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The latest licensing numbers mark the fifth consecutive quarter of declines; the number of business permits began shrinking in 2022.
License totals declined on a year-over-year basis for the first time in 2023, when the number of active permits fell 4% compared to 2022 numbers.
The licensing declines come after years of nearly double-digit growth in the rapidly expanding marijuana
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