Legal marijuana sales in USA are set to grow fourfold by 2020!
The good times have arrived both for the patient and the recreationist, the tourists and the addicts too, with legal marijuana set to conquer more and more American states. The count is 22 for medical pot and 4 for recreationists so far. Millions and billions of dollars are already coming in states like Colorado and we can well imagine what the likely scenario will be by 2020, only four years away! Conservative calculations indicate a 30% increase each year and a fourfold increase of legal marijuana sales will be forthcoming by the end of the present decade. Cannabis farms, retail outlets, cafes and restaurants, resorts and dispensaries would all vie for a piece of that profound income, permitted by law of course. Does that mean the illegal route does not exist? No, nobody said that. Smuggling continues like always with cheaper stuff, though quality does matter.
Do you find anything funny about states having particular legislation for prescribing cannabis according to disease? What is ironical is that the Federal Government still considers cannabis a Schedule 1 drug that indicates illegality and something not medically useful.
We all believe in figures that talk best. In 2014, legal marijuana sold $4.6 billion, growing 17% in 2015 to $5.4 billion. In 2016, the legal sale is expected to touch $6.7 billion, an increase of 25%. Yet that is not all! Growing at 30% a year, the sale would probably touch $22 billion in 2020, and why not? If people have the time, inclination and money for something, they will definitely indulge, subject to certain rules about quantities and age restrictions. Add to that the medical boon and you well understand the dimensions of the cannabis dream.
The US Presidential election this year is a great time for politicking and pressing demands. Nevada has already made out a strong case with signature campaigns. California and Ohio along with several other states are expected to join the queue for cannabis liberalization. So we can look forward to greater sales!
If you wish to invest in marijuana stocks, it may be too early because the Federal Government has not given the green signal yet. What does the nation say? In April 2015, a poll indicated 84% support. Another October poll indicated that 58% Americans support legal marijuana, compared to ten years ago when only 36% said yes. In the mid-1990s, just 25% supported marijuana. Times are changing rapidly all right.
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