Report: Americans Expand Cannabis Use As Legislators Catch Up

After the Democratic Party took control of the presidency and Congress in the 2020 elections, there was a lot of excitement in the US over legalizing cannabis.

However, legalization will continue to be gradual, argues the latest US Cannabis Consumer Trends Report from Brightfield group: The federal government is experiencing a cumbersome, slow decriminalization process.

Indeed:

• The SAFE Banking Act will be the next big market change, not full legalization.
• Legal banking gives large players more opportunities to get in and expand. It also encourages more states to legalize cannabis.

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Meanwhile, consumers are quickly getting used to cannabis as a result of government legalizations, a changing cultural atmosphere, and increased cannabis use overall. According to the message:

• 10% of Americans have used cannabis in the past 3 months.
• Use is even more common among millennials, with 13% saying they have used cannabis in the past 3 months – levels are higher than soy milk, hard seltzer, and plant-based meat.
• Cannabis use “several times a day” and “all occasions of use” had increased compared to 2020: 50% of new adult users reported using cannabis 5 or more days a week.
  • Cannabis use is becoming more and more balanced: in the fourth quarter of 2020, 49% of cannabis users were women – the most balanced ratio yet.
• The delta-8 phenomenon indicates a desire for psychoactive cannabis beyond CBD.

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“Americans are ready for legal cannabis. They expand consumption and possible uses while the legislature is catching up. State-level legalization efforts and potential federal reform remain in the background while cannabis normalization continues. All kinds of people enter the market and enjoy cannabis for different purposes, at different times of the day and in different formats, ”said Bethany Gomez, CEO of Brightfield Group.

“Traditional cannabis users continue to make up a smaller share of the legal market as consumer needs evolve.”

This article originally appeared on Benzinga and was republished with permission.