California pot sales could top $6.5B if recreational use OK’d
California’s legal marijuana market could grow by nearly $4 billion over the next four years if voters approve a ballot initiative to legalize recreational use of the drug, according to a recent market report.
The state’s current medical marijuana market reached $2.7 billion last year. If voters approve the November ballot initiative, total medical and recreational sales could top $6.5 billion annually by 2020, according to analysis released Tuesday by New Frontier and Arcview Market Research.
California is one of five states that will ask voters this November whether to legalize recreational marijuana use. But because the state is the most populous in the country, legalization could have a tremendous affect on the national industry. – READ MORE