Report says legalising marijuana in California would be windfall for cannabis industry
If voters legalise marijuana in California on 8th November the cannabis industry can expect sales to increase to $6.5 billion by 2020, a new cannabis industry marketing report predicts.
Cannabis investors can expect 18.5 per cent sales growth a year in California if Proposition 64 passes, according to The State of Legal Marijuana Markets, published by New Frontier Data and ArcView Group. The 2016 report says: ‘Legalisation of cannabis is one of greatest business opportunities of our time and it’s still early enough to see huge growth.’
In 2015, medical marijuana sales in California were $2.7 billion, the study noted.
The California Catholic Conference, the public policy arm of the state’s bishops, has officially taken ‘no position’ on the ballot initiative to legalise recreational marijuana. However, the conference notes the Catechism of the Catholic Church teaches the use of drugs except on strictly therapeutic grounds is a ‘grave offense,’ and the...
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