Key Takeaways:
- Cannabis retailers are transforming dispensaries into immersive destinations, while celebrities and Tribal enterprises are reshaping industry influence.
- The rise of intoxicating hemp and global market expansion is unlocking new revenue streams.
- As regulations evolve, businesses that innovate — whether through experiential retail, brand authenticity, or strategic market entry — will define the industry’s future.
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Each year, the Cannabis 50 highlights the individuals, companies, and organizations making a meaningful impact on the cannabis industry. This year’s list confirmed key trends prevalent in the industry that emerged as common throughlines among multiple honorees.
From creating memorable and engaging customer experiences to expanding into international markets, here are five notable trends driving the industry forward.
1. The Continued Prevalence of Intoxicating Hemp
Intoxicating hemp products have surged in popularity, with an increasing number of cannabis companies taking advantage of new revenue streams outside the traditional cannabis business model. These products can be sold in convenience stores, online, and through other mainstream distribution channels. Companies ranging from Curaleaf and Tilray to Uncle Arnie’s and Wyld have already capitalized on this trend. As regulatory frameworks continue to evolve, intoxicating hemp provides an avenue for brands to diversify offerings and reach new consumers beyond the confines of state-regulated cannabis markets.
2. Celebrity Cannabis Brands
From actors to athletes, celebrities are making their mark in cannabis, transforming what was once a career risk into a powerful branding tool. Names like Jim Belushi (Belushi’s Farm), Wiz Khalifa (Khalifa Kush), Snoop Dogg (Death Row Cannabis), and Cheech & Chong (Cheech & Chong’s Cannabis Co.) have launched cannabis brands that leverage their personal connections to the plant. Celebrities like Willie Nelson (Willie’s Reserve) and Ricky Williams (Highsman) bring authenticity and advocacy to their businesses, building brands that align seamlessly with their public personas. As celebrity-backed brands continue to gain traction, they help break down stigma and introduce cannabis to broader audiences.
3. Expansion Into Emerging Markets
As U.S. cannabis markets mature and the industry awaits rescheduling news, companies are looking to newly legal states and international markets for growth. Missouri and Ohio have seen rapid expansion in adult-use sales, with Good Day Farm and Cresco Labs securing strong positions. Meanwhile, global markets are opening up, with Curaleaf International acquiring Cann4Med in Poland and Khalifa Kush preparing to launch in Germany’s medical market in 2025. While expansion offers opportunities, it also brings challenges such as regulatory complexity and financial constraints. Companies that succeed in emerging markets are those with strategic planning and adaptability to shifting legal and consumer landscapes.
4. Tribal Cannabis
An increasing number of Tribes are solidifying their place in the cannabis industry, leveraging historical connections and economic opportunities. The Saint Regis Mohawk Tribe established New York’s first Tribal licensing program, while the Eastern Band of Cherokee Indians launched operations in North Carolina. In California, Redding Rancheria entered the market through state-issued license purchases. Organizations like the Indigenous Cannabis Coalition are playing a crucial role in supporting these initiatives by advocating for education, policy development, and economic empowerment within Tribal communities. Tribal cannabis businesses are not only expanding market access but also ensuring Indigenous representation in the industry’s growth.
5. Experiential Cannabis Retail
Cannabis retailers are transforming dispensaries into immersive destinations that blend entertainment, luxury, and community. In Las Vegas, Planet 13, the world’s largest dispensary, which already offered a restaurant and bar, recently launched the new DAZED! consumption lounge. Jardín, another Vegas hotspot, provides an upscale shopping experience, while West Hollywood’s The Studio Cannabis Smoking Lounge offers tableside ordering and live events. Meanwhile, The Woods, co-founded by Woody Harrelson, features private cabana-style rooms and a lush garden lounge. These experiential retail spaces are redefining the cannabis shopping experience, making it more social and engaging.
Looking Ahead: Cannabis Opportunities and Challenges
The cannabis industry continues to evolve, with new opportunities and challenges shaping its future. Whether through immersive retail experiences, Tribal-led enterprises, celebrity-backed brands, intoxicating hemp products, or global expansion, businesses that innovate and adapt will thrive.
How MGO Can Help
A top-50 CPA firm in the U.S., MGO was one of the first national accounting firms to develop and provide targeted accounting, audit, tax, and consulting services to the cannabis and hemp industries. We have helped numerous cannabis companies with their go-public and liquidity transactions.
Today, we provide industry-leading tax, accounting and consulting experience and a suite of solutions to help operators, regulators, institutional investors, and brands navigate the complexities of the cannabis and hemp industries.
Reach out to our team today to learn more about our Cannabis services.