As a comparison, the state’s produce industry, which supplies half the country with all its nuts, fruits, and vegetables, as well as a large portion of its livestock and dairy earned $45 billion in recent years. Legalized pot sales will likely double that number. Analysts also believe there’s another $24 billion to be earned in “unregulated pockets.”
Vivien Azer, a cannabis analyst, believes the nation’s legal market will grow ninefold over the next decade, with consumer spending on recreational and medical marijuana hitting $50 billion by 2026.
Cannabis is already as big a market in California as coffee and Indian gaming but only one in five dollars is accounted for on the legal market. As regulators make it easier for pot to be sold legally, mom-and pop shops that have been struggling to be legal will enter the tax stream. California stands to be one of the richest states in the country for a single crop.
What are your thoughts? Please comment below and share this news!
(from True Activist)