Legal Marijuana Spending Could Grow To $21 Billion By 2021
Canadians and Americans spent US$56.4 billion on marijuana in 2016, and 88 per cent of that spending was illegal, according to a new report.
The report by ArcView Market Research, titled "The State Of Legal Marijuana Markets," looked at legal, medicinal and illicit markets in the U.S. and Canada. The organization released an executive summary of their findings this week, in advance of the full report's release in February.
Legal spending constituted US$6.9 billion of last year's total, which is up 34 per cent from 2015. The organization predicts that number could grow to US$21.6 billion by 2021, thanks to projected sales increases in Canada, California and Massachusetts. However, it does note that is based on the assumption that the U.S. "does not return to waging all-out war on the cannabis industry."
In 2016, seven U.S. states voted in favour of different forms of legality. Canada reaffirmed its intent to...
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