If California Voters Legalize Cannabis in November, Market to be $6.5 Billion Annually by 2020

California VotersIf California voters give approval to Proposition 64 this November to legalize cannabis for everyone 21 and older, the legal cannabis market will be worth $6.5 billion annually by 2020, a new report has found.

According to the 2016 California Legal Cannabis Market State Profile, released by Arcview Market Research, California’s legal cannabis industry would grow from $2.76 billion in 2016, to $6.5 billion by 2020; the annual growth rate is estimated at 18.5%.

“California is the 6th largest economy in the world”, says Arcview CEO Troy Dayton. “The opportunity for jobs, tax money and wealth creation made possible by California ending marijuana prohibition cannot be overstated”.

Read moreIf California Voters Legalize Cannabis in November, Market to be $6.5 Billion Annually by 2020

Over $5.4 Billion in Legal Cannabis Sold in the United States in 2015

cannabismoney1Legal cannabis sales in the United States passed $5.4 billion in 2015, according to a new report released by the ArcView Group, which is a cannabis investment network.

According to the report, the $5.4 billion represents an $800 million increase from 2014, when total sales of legal cannabis reached $4.6 million.

“Many in the business and financial sector have taken a ‘wait and see’ approach to the legal cannabis industry”, says ArcView Group CEO Troy Dayton. “The new data confirms what pioneer investors and entrepreneurs suspected.  Legalization of cannabis is one of greatest business opportunities of our time and it’s still early enough to see huge growth”.

Read moreOver $5.4 Billion in Legal Cannabis Sold in the United States in 2015