Jeff Wells
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- Milken Institute1h 1m
Power Plant? Exploring the Cannabis Industry
Karan Wadhera, Mike Harden, Ben Kovler, Bharat Vasan, Jeff Wells
Projected to reach a $75 billion valuation by 2030, the U.S. cannabis industry is undergoing a structural shift from unregulated commodity sales to a branded, data-driven sector supported by 64% public approval. While federal restrictions currently inflate capital costs and isolate the market, political momentum and state-level innovations are driving investment into operational technology and consumer-focused brands that challenge traditional alcohol and opioid consumption. This trajectory sets the stage for eventual federal reform, where industry consolidation and the entry of major multinational corporations will likely redefine the competitive landscape alongside expanding global export opportunities.