Washington, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Utah voters pass Proposition 2, legalizing use of medical cannabis following a protracted battle between Drug Safe Utah — supported by The Church of Jesus Christ of Latter-day Saints, among others — and the Utah Patient Coalition. By passing Proposition 2, Utah now gives some 3 million residents access to medical cannabis. New Frontier Data, the authority in data, analytics and business intelligence on the global cannabis industry, projects annual sales of medical cannabis in Utah to reach $63 million by 2025, with an estimated 1,600 new legal cannabis, plant-touching jobs to support the market.
“Proposition 2 is representative of how two varying factions can work together to compromise and create a solution that works for each and ultimately for the betterment of patient care,” said Giadha Aguirre de Carcer, Founder and CEO of New Frontier Data. “As we detail in our recently published report The U.S. Cannabis Report: 2018 Industry Outlook, consumer sentiment is at an all-time high for some form of legalization. Utah is now among the 34 states allowing medical use. The passage of Proposition 2 also signifies that views are changing on the efficacy of medical cannabis in patient care, even in some of the most conservative regions of the U.S.”
The compromises in Proposition 2 laid the groundwork for medical cannabis use in the state. Residents are banned from growing their own cannabis. The state has plans to establish a state-run medical cannabis distribution network.
About New Frontier Data: New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policymakers. New Frontier Data’s reports and data have been cited in over 69 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver, CO, London, UK, Bogota, Colombia, and Hong Kong.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data please visit: http://www.NewFrontierData.com.