According to MJBiz CEO Chris Walsh, at least 4 more states will be legalizing marijuana in 2022 and there will also be some big M&A deals.
At least four more states will legalize marijuana in some form in 2022 and industry mergers and acquisitions will “noticeably accelerate,” Walsh predicted Wednesday.
“We’re going to see our biggest year in 2022 for M&A,” Walsh said, speaking to the general session on the first full day of MJBizCon in Las Vegas.
“That’s going to accelerate. You’re going to see some of the biggest companies coming together.”
Walsh predicted at least three or four major mergers will occur in the United States and Canada in 2022.
“It’s going to be another big year,” Walsh said.
Walsh pointed to a potential doubling of overall marijuana retail sales, which were around $20 billion in 2020 and could go on to hit $38.4 billion to $45.9 billion in 2025.
Growth and maturation will happen despite a lack of support from lawmakers in Washington DC, the CEO noted.
“This train is rolling, the momentum is continuing, despite the inaction of the federal government,” Walsh said.
“It’s very clear we’re winning at the ballot box and we’re winning with state governments.”
“I do not think the FDA will pave the way for ingestible CBD next year, unfortunately,” Walsh said however.
But the CEO says, “I do think we will see a resurgence in CBD, fueled by states paving their own way and allowing ingestible products.”