BY RSH Inc IN RSHinc On 06-02-2016
Analysts from ArcView Market Research and New Frontier Data unveiled their annual report on the size of the legal pot market Monday, showing a 17% increase over 2014. The official number for 2015 is $5.4 billion in legal cannabis sales say The marijuana market researchers predict overall sales will grow to $21.8 billion by 2020 at a compound annual rate of 30%. Voters in at least seven states will consider allowing adults to get high legally this year and 86% of Americans now live in states with some form of legal marijuana use.
The state with the most residents who use medical cannabis, California, brings in between $59 million and $109 million in estimated tax revenue from medical marijuana sales each year. That is the net result $1,362,500,000. Which is both medical and recreational use. 572,762 residents of California are using only Medical Cannabis products, that are both prescribed and over the counter CBD products.