Status update: Arizona

Arizona, one of the four states to legalize REC in November, is on the brink of opening its market to all adults. In a region where full legalization has become fairly routine, the state has attracted plaudits from the industry for its business-friendly climate and what insiders describe as an attentive and well-run regulatory process.

• The Grand Canyon State legalized MED in 2010 and saw dispensaries do roughly $800M in 2020 sales. The pace of its growth could be closely tied to how much the pandemic allows for tourists to return.