The U.S. nicotine market is undergoing a historic shift — one that should be celebrated as a major public health breakthrough. A new Goldman Sachs report forecasts that smoke-free nicotine products will surpass cigarettes in consumption by 2025 and come close to matching them in revenue and profit by 2035.
This shift isn’t the result of government policy. It’s happening because consumers are making better choices. Yet federal regulators appear determined to stand in the way.
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