Insights

Older western markets kept shrinking through September while eight young markets to the east grew. Ohio, which added the most dollars of any state, shows how retailers in a young market can both grow and profit at the same time.

Tom Adams Research / September 25, 2026 Be Careful What You Wish For Full legalization is back on the table in DC, but with a tobacco-level 25%-of-wholesale “sin” tax on a product Washington has just called medicine By Tom Adams · Tom Adams Research The day after the Trump administration’s rescheduling hearing wrapped on July

California grew 17.6% in July with every category’s price falling. Twelve of 22 markets are growing — and access, not price, decides which ones earn.

California’s legal cannabis market grew 7.8% in 1H 2026 — its first gain since 2021. What built the bottom, and what it means for every younger market.

The five U.S. giants atop the Global Cannabis 50 shrank in 2025 while a Berlin importer and Canadian mid-caps surged.

Tom Adams Research / May 15, 2026 Investors are reading the wrong tape The “total cannabinoid market” is $57 billion and growing twice as fast as the state-licensed dispensary channel investors fixate on. Now, governments are starting to steer more of that demand into dispensaries. By Tom Adams Investors have stranded public cannabis stocks at

DC takes the wheel on cannabis regulation. What the April 23 DOJ rescheduling, the November hemp ban and December SCOTUS decision mean for operators and investors.