The Grass is looking greener
There was an estimated $31 billion worth of cannabis sales in the U.S. last year (2016), the lion’s share of which was generated through illegal transactions. As states start to legalize the green stuff, though, analysts at Cowen & Co. forecast a vastly different – and larger – landscape come 2026.
In 2016, the legal side of this industry created $6 billion in sales. By 2026, this is projected to shoot up to $50 billion, relegating the illegal sales that were once worth $25 billion to a relatively insignificant level.
The forecast is neatly captured in this infographic from Statista:
You will find more statistics at Statista
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2 responses
It really worries me that in the face of overwhelming evidence of how harmful this drug is, the amount of money that may be generated through sales will be constantly put your the fore of any argument. The quoted figures are not proved and the costs to the whole of society are not taken into account. If alcohol and tobacco figures are used objectively then any rational person would see legalisation is a bad decision
Hi Nigel. Thanks very much for your comment. Yes, it does seem that cannabis policy in the future will be clouded by pressure groups and government income from taxation, just as alcohol is now.