Scientists used SARIMA to guess how weed prices in the U.S. would change in the future. “It combines the autoregressive, integrated, and moving average models with seasonal components to capture the trend, seasonality, and random fluctuations in a time series,” the study says. The time-series forecasting model looks at both the trend and the seasonality of the data.
Looking at a CFAH graph of prices over the last 30 years, with its wild zigzagging through the years, it might seem impossible to know what the price of weed will be in the future. Still, CFAH thinks that by 2030, the average price of a gram of weed in the United States will drop to $5.61.
Given the recent trends in several U.S. states that have legalized cannabis, it might not be a surprise that prices will continue to fall. This is especially true as the market grows and there is a chance that federal legalization will happen soon.
About the fact that New York is the state where people use weed the most? The title is likely to stay with the city, especially since the leisure market is still getting off the ground.
Predictions for Cannabis in 2024
- SAFE banking will last until the fall of 2024. He thinks that the Senate won’t move on a bill until it has 60 votes, which is needed to avoid a filibuster. He believes that the House will follow suit once the Senate does. It’s typically hard to tell what politicians will do, but the analyst thinks that the Senate will move something forward in the spring of 2024.
- There will not be a Cole Memo Part Two. But Zuanic thinks that the Dept. of Justice is under less pressure to act because of all the attention on the SAFE Banking Act. A new Cole Memo could quickly fix some banking problems for weed.
- The law business will grow and offer more services. Zuanic said that as there are more shops, there will be a greater need for related services. He really likes the banking companies in the area. There may be consolidation going on, but he thinks that will make businesses stronger generally, which will also make people want services.
- People see Germany as a leader. “We are encouraged by the prospects of growth in the “wellness market” in Germany,” the study said. Phase one rules will make it easy for doctors to write prescriptions, which will help the cash market even more. Zuanic thinks that the growth of online shops will be good for the cannabis business in the United States.