Reports Show the Cannabis Industry Could be Worth Billions in Just a Few Years

ccording to a recently generated financial report by the
group Greenwave Advisors, the recreational cannabis industry could be worth up
to $35 billion dollars in five years, as long as D.C. and all 50 states agree
to legalize recreationally.

The report states that even if all states don’t make the
jump, the industry could still be worth as much as $21 billion by 2020 as long
as things keep going well and no legislation gets repealed. “The
legal marijuana industry is emerging in the United States (and globally) at a
steady, though deliberate pace,” states the report. “Although uncertainty
persists as to the nature, extent, and timing of universal marijuana industry
are and will be substantial.”

The report also alludes to the fact
that with these numbers floating around, and because of how successful current
legalization efforts have been, this prophecy of complete legalization is
likely to be fullfilled. It points out that since Colorado has reached $50
million in a year and Washington has reached $26 million from sales— and these
states are not heavily populated and only account for 4% of the U.S— population,
there is good reason to believe that these numbers will continue to increase
drastically.

 “This forecast does not suggest a terminal
value but merely, what we think retail revenues (and sales and excise tax
collections) could look like during the first year in which marijuana is sold
legally in all 50 states and D.C,” the report explains. It also points out that
the number they are projecting will still likely happen even if legalization
doesn’t take place everywhere, but in that case, some of it will be on the black
market and harder to quantify.

 With
this kind of information easily accessible, let us hope that even more people
will change their minds about legalization in light of these figures and what
they can accomplish.