NEWS
EVENTS
Weed Industry Worth $20bn by 2020
A cloud of weed smoke is slowly drifting over the U.S, and as consumption grows so does the industry.
In the last 12 months, the U.S cannabis industry was worth $5.4bn, up from the year before by $800m, a surprisingly large amount considering only four states have fully legalized the ‘erb, however, it is legal in 23 other states for medicinal use.
A report carried out by cannabis analytics firm ‘New Frontier and Arcview Market Research’ claimed that the sale of recreational marijuana had gone up 184% on last year. With this increase and the expected legalization of weed in other U.S states, the industry is expected to be worth a whopping $20bn by 2020.
Here are some other things worth $20bn:
The entire GDP of Cyprus or Afghanistan.
The amount Israel spends on it’s military each year.
Arsenal F.C x 20.
These figures are only indicative of how much the legal weed market is worth, the illegal market is expected to be worth much much more.
