Pennsylvania‘s Governor Josh Shapiro is all in for legalizing adult-use cannabis in the state. The Governor noted in his 2025-2026 budget speech that Pennsylvania was losing tax revenue because it is surrounded by states where cannabis use is legal. He ended his speech on cannabis by saying, ‘Let’s get it done.’
Gov. Shapiro said,
Do not fool yourselves. Pennsylvanians can buy marijuana by driving to our neighboring state. Five states bordering Pennsylvania have legalized cannabis for adult use.
The CEOs from the businesses across the border, in New Jersey and Maryland as well as New York, told me that 60% of their clients in these shops were Pennsylvanians. Revenue that would have helped us in Pennsylvania is being diverted to other states.
Our Commonwealth is losing an opportunity to generate $1.3 billion new revenues in the first five year period.
He asked that lawmakers give him a bill that legalizes adult-use cannabis and expunges the records of people who have been convicted for nonviolent possession of small amounts of marijuana. Additionally, he said, “An act that imposes reasonable regulation, protects public security, and allows communities to thrive that have suffered because of the criminalization cannabis.”
He said that a few of his constituents thought the legalization process for adult use could be difficult, but that Maryland and Ohio had both achieved it. He reminded his constituents that adult-use marijuana has been legalized in 24 states.
Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF) released a statement saying, “Jushi and its subsidiaries’ hundreds of employees here in the Commonwealth of Pennsylvania are pleased that the legalization of cannabis is once again a priority for the legislative session. We agree with the fact that the policy will have important budgetary implications, but it is equally important to protect the adult market from the same regulations we created for medical marijuana.
Gov. Shapiro tried to appeal to conservative voters, reminding them of his status as a father and former chief of law enforcement in this Commonwealth. He admitted that he did not come to his conclusion lightly. He says he’s studied the subject and knows its implications. Also, he thinks that an adult-use program regulated by the government would help reduce illicit market traffic.
Legalizing cannabis for adults is common sense policy that’s supported by more than 60% of the population. And even those who are against it prefer a market that has been regulated to the current situation. Jim Cacioppo is the Chief Executive, Chairman and Founder at Jushi. He said that it’s time for the public to have a legalized, regulated marketplace of adult-use marijuana.
Pennsylvania has a strong medical marijuana program. Sales in the state totaled $6.7 Billion since 2020 when the program began. Most months in 2024 will report sales exceeding $140 million.
Green Market Report Previously, I wrote about an independent FTI Consulting analysis of the recreational marijuana market in Pennsylvania. The state was able to reach up $2.8 billion sales and create almost 45,000 jobs in its first year.