Medical cannabis to rise up to $44 billion by 2020

The cannabis industry’s numbers continue to rise with a new estimate leading to another major increase in predictions for cannabis sales. The U.S. cannabis industry could very well add an extra $44 billion to the country’s economy by the year 2020—just a mere four years away.

The monetary predication is based on cannabis sales, as well as extra purchases and jobs that relate to the industry, such as growers, grow-light manufacturers and even home purchases made in Colorado as a result of the cannabis boom, according to the Albany Daily Star.

Of course this estimate can only be applied if the current state of cannabis legalization continues to evolve and grow. Fortunately, at the rate cannabis is growing, there most likely won’t be any issue in the industry reaching the aforementioned milestone.

The amount of money made just in this year alone is astounding, and it hasn’t gone unnoticed, “As for actual sales of marijuana, that figure is estimated at $3.5 billion to $4.3 billion for this year in just states that have legalized medical and recreational use. That’s up from $3 billion to $3.4 billion last year, and in 2014 it was $2 billion to $2.4 billion,” states Yahoo! Finance.

There are few signs that cannabis will take a dip in progress within the next few years. In fact, it’s more likely to take an ever larger leap on the numbers scale if, or rather when, cannabis is rescheduled. Cannabis is quickly gaining momentum, and we’re all along for the ride.