Legal Marijuana Sales Set To Quadruple By 2018

Apr 9, 2013

U.S. legal mar­i­juana sales are pro­jected to hit $1.5 bil­lion this year, and that could look like noth­ing in just a few years. Data from Med­ical Mar­i­juana Busi­ness Daily shows that total sales could quadru­ple to $6 bil­lion by 2018 on the back of legal­iza­tion efforts in Wash­ing­ton and Col­orado, as well as the grow­ing med­ical mar­i­juana indus­try. The two states both legal­ized the recre­ational use of weed in Novem­ber. Else­where, 18 states and Wash­ing­ton, D.C. have made med­ical mar­i­juana legal, while 10 oth­ers have for­mal mea­sures pend­ing to legal­ize med­ical mar­i­juana, accord­ing to the National Cannabis Indus­try Asso­ci­a­tion. That’s reflec­tive of a wider accep­tance of the drug. A recent Pew Research Cen­ter poll dis­cov­ered a major­ity of Amer­i­cans sup­port pot legal­iza­tion for the first time in more than four decades. As many as 52 per­cent of Amer­i­cans sup­port legal­iz­ing weed — 45 per­cent do not — and nearly three-fourths say the amount of money spent enforc­ing mar­i­juana usage laws is not worth the cost. Such grow­ing sup­port has led marijuana-tied busi­nesses to pitch their com­pa­nies to Wall Street investors, the Los Ange­les Times reported in March. Take Vin­cent Mehdizadeh, founder of Med­Box, an auto­mated weed dis­pens­ing machine com­pany. He’s seek­ing $20 mil­lion from investors in antic­i­pa­tion of poten­tial expan­sion. “Everybody’s loos­en­ing up a lot because they real­ize the momen­tum has shifted and the finan­cial world is going to have to make room for this indus­try,” Mehdizadeh told the LAT. “Wall Street and invest­ment banks are going to have to come along for the ride, even­tu­ally.” Think­ing about invest­ing in the mar­i­juana indus­try your­self? Be sure to keep the risks in mind. It was reported last year that 500 of the esti­mated 3,000 U.S. mar­i­juana dis­pen­saries either had been closed by the gov­ern­ment or shut down in the past year. Source: Huff­in­g­ton Post (NY) Author: Car­o­line Fairchild Pub­lished: April 8, 2013 Copy­right: 2013 Huff​in​g​ton​Post​.com, LLC Con­tact: scoop@​huffingtonpost.​com Web­site: http://​www​.huff​in​g​ton​post​.com/

857d6ccc67ijuana.jpg 150x112 Legal Marijuana Sales Set To Quadruple By 2018

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Legal Mar­i­juana Sales Set To Quadru­ple By 2018

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