CGL’s 2022 Guide to Cannabis

December 17, 2021

In our 2022 Guide to Cannabis, we discuss the increased access and social equity in the cannabis industry, the increasing revenues, investments, and M&A, plus we follow up on the predictions we made for 2021 and make a few more for 2022.


Increased access

  • 7 more states legalized adult-use recreational marijuana and at least 3 more states are on their way
  • Mexico decriminalized recreational use
  • The California State Fair will host a Cannabis Competition in 2022

Revenues are way up

  • 2021 total revenue from cannabis in the US is estimated to be nearly 32% more than in 2020
  • Revenues in California grew nearly 12% quarter over quarter in the first six months of 2021
  • And there’s still a lot of market share up for grabs: the estimated black market revenue was $8 billon just in California

Investors are pouring in

  • Average investment in cannabis is up 165% from 2020: $19.9 million in 2021 up from $7.5 million in 2020.
  • Average seed-stage investment for 2021 up 85% ($1.86 million) from 2020 ($1million)
  • More M&A as CGL helped steer Sublime acquisition for $43 million

Download the Guide >


The materials available at this website are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this website or any of the e-mail links contained within the site do not create an attorney-client relationship between CGL and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

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