If all 50 states legalized marijuana and the federal government ended prohibition of the plant, the marijuana industry in the United States would be worth $35 billion just six years from now. That's according to a new report from GreenWave Advisors, a research and advisory firm that serves the emerging marijuana industry in the U.S., which found that if all 50 states and the federal government legalized cannabis, combined sales for both medical and retail marijuana could balloon to $35 billion a year by 2020. If the federal government doesn't end prohibition and the trajectory of state legalization continues on its current path, with more, but not all, states legalizing marijuana in some form, the industry in 2020 would still be worth $21 billion, GreenWave projects. In its $21 billion 2020 model, GreenWave predicts 12 states plus the District of Columbia to have legalized recreational marijuana (besides Colorado and Washington, which legalized it in 2012).
Marijuana Industry Could Be Worth $35 Billion In 2020, If All States And Feds Legalize It
Matt Ferner, Huffington Post
Thu, 10/23/2014 - 4:13pm
Topics: since united states greenwave advisors besides colorado arizona california hawaii maine maryland massachusetts nevada new hampshire rhode island vermont the huffington post matt karnes huffpost florida as karnes november d.c colorado president barack obama u.s house drug enforcement administration the greenwave beginning july revenue greenwave columbia washington alaska oregon the karnes legalize marijuana industry worth billion medical federal recreational year government report sales legalization time market prohibition largely model data markets projects implement research users providing district measures hemp voters expect
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