Wednesday, May 22nd, 2019

Legal US Pot Sales Soar to $5.4B in 2015

Published on February 3, 2016 by   ·   No Comments

Legalize Freedom 

CNBC

And 2016 is also shaping up to be an equally robust year with strong demand. ArcView estimates the legal market could grow to $6.7 billion in sales.

“You won’t find another industry growing at that kind of clip,” said Troy Dayton, chief executive of the ArcView Group.

In addition to publishing cannabis sector research, ArcView’s investor network members have invested more than $64 million in about 104 marijuana companies. The report was published in partnership with New Frontier, which focuses on cannabis data analysis.

Across the country, 23 states and the District of Columbia allow medical marijuana use. Four states and D.C. allow for adult use of marijuana.

All told, about 86 percent of Americans live in states that allow some degree of legal cannabis use, according to the report.

This year, seven states could decide on whether to allow adult use: California, Nevada, Arizona, Massachusetts, Maine, Rhode Island and Vermont. Vermont may become the first to legalize cannabis through legislative action, rather than voter approval.

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