- Legal marijuana sales are predicted to hit $9.7 billion in 2017, a 33% increase over 2016, according to a new report.
- The growth is buoyed by new states legalizing marijuana, and sales exceeding expectations in existing markets.
- Analysts predict the market to hit $24.5 billion in sales by 2021, despite continued federal prohibition.
The market for legal marijuana is heating up in a big way.
Legal marijuana sales are predicted to hit $9.7 billion in North America in 2017, according to a new report from cannabis industry analysts Arcview Market Research, in partnership with BDS Analytics.
That represents an unprecedented 33% increase over 2016, shattering previous expectations about how quickly the cannabis industry could grow in the face of federal prohibition. The report further predicts the entire legal cannabis market to reach
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A Gallup poll released in October indicates 64% of Americans support legalizing marijuana