In case you haven’t noticed, marijuana is budding into a big-money business. Last year, the legal weed industry generated a whopping $10.9 billion in worldwide sales, and by the end of the next decade we could be talking about as much as $200 billion in annual revenue.
Though the entire world presents as an opportunity for the marijuana industry, it’s the United States that’s widely considered the crown jewel. Depending on your preferred source, the U.S. may wind up generating a third to perhaps more than half of all annual sales in a decade.
Within the U.S., there are more than a dozen states expected to become billion-dollar marijuana markets within the next five years. But it’s the Golden State, California, that’s forecast to lead all states, and all markets, in total legal weed sales. By 2024, the duo of Arcview Market Research and BDS Analytics foresees $7.23 billion in annual legal cannabis spending in California. That’s out of $30.1 billion in estimated legal spending in the entire United States that year.
To say that California is important to the long-term success of the marijuana industry would be an understatement. But, just the same, to say that California has failed on a monumental level to support its legal cannabis industry would also be a gross understatement.
To read more, click on https://www.fool.com/pwa/investing/2019/09/14/californias-cannabis-black-market-is-insanely-larg.aspx