Image of Legal Marijuana
~
Three other states and the District of Columbia have legalized recreational marijuana. Twenty-three states and Puerto Rico have legalized medical marijuana, and revenue for the industry as a whole has been growing nearly 34% a year for the past five years. And it’s only expected to keep growing.
 
These five numbers show just how big legal American marijuana could be in five years.
 

$13.4 billion

 
Marijuana is what the research firm IBISWorld calls a growth sector, and it expects legal marijuana to generate $13.4 billion in revenue in 2020, up an annualized 30.3%. Legal marijuana is expected to generate about $3.6 billion in revenue this year alone. Recreational marijuana sales are driving much of the revenue gains, but the medical sector is also expanding. "Should medical marijuana become legal at the federal level, for example, the industry could see even more extensive growth," IBISWorld said.  
 

12,128 stores 

 
There are an estimated 5,000 stores currently selling retail recreational or medical marijuana across the U.S., and IBISWorld expects that number to grow nearly 20% a year through 2020, when the number is expected to break the 12,000-mark.
 

212,091 employees

 
It’s not clear how many jobs legal marijuana has created. While some jobs require government-issued licenses, no entity tracks the total number of jobs created not only by marijuana growers and dispensaries but also by security firms, business service providers, regulators and others who service the industry. IBISWorld estimates 75,000 people will work in legal marijuana by the year’s end and expects that number rise to 212,091 by 2020.
 

18 states

 
Medicinal marijuana may be more prevalent in America, but recreational marijuana is shaping up as the industry’s real growth opportunity. So far, four U.S. states — Colorado, Washington, Oregon and Alaska — and the District of Columbia have legalized recreational marijuana use. Similar ballot initiatives have popped up in several other states, and by 2020 the ArcView Investor Group —which helps connect marijuana investors with companies seeking funding —expects voters in 18 states will have legalized marijuana. Brendan Kennedy, CEO of Privateer Holdings, the nation's leading cannabis private equity fund, is a bit more optimistic. "It's very likely that the prohibition of retail cannabis will have ended by 2020," he said. "The Berlin wall of cannabis prohibition is past the tipping point."
 

More than $120 million in investments

 
Privateer Holdings has raised $82 million from investors, including Peter Thiel's Founders Fund, which also has invested in Facebook, Airbnb, Lyft and Spotify. "Raising that first $7 million was harder than any financial raise I’ve ever done," Privateer's Kennedy said. But times have changed. Kennedy said he's heard from more large institutional investors interested in the marijuana space in the past 90 days than he had in the previous four years. Separately, the ArcView Investor Network said it has helped facilitate more than $40 million in investments in 53 marijuana-related startups. Even Snoop Dogg has gotten into the funding game with a $10 million investment in a medical marijuana delivery startup.
 
~
August 16, 2019

Poll Finds 63% of Americans Support Cannabis…

According to a poll from Investor’s Business Daily and TIPP, 63 percent of Americans support cannabis legalization, including 75 percent…
August 16, 2019

How Essential Oils Enhance Marijuana's Entourage Effect…

When cannabis oil is mixed with essential oils from other plants, the presence of new terpenes can also make a…
August 16, 2019

Scientific Study: This Marijuana Flavor Might Fight…

“The findings demonstrate the potential for this new cannabis derivative in the treatment of both localized and advanced pancreatic cancer,”…
August 16, 2019

Up In Smoke: Pre-Employment Marijuana Testing Goes…

Starting next year, job seekers in New York City and Nevada will no longer have to worry about whether they’ll…
August 15, 2019

Report: California Cannabis Market on Track to…

After briefly faltering a year ago, California’s massive cannabis industry seems to be regaining steam.
August 15, 2019

Time to get acquainted with the industrial…

Used in Europe for more than 3,200 years, hemp today represents an annual market opportunity of $1 bn (~€692m) for…
August 15, 2019

How Does Your State Rate for Medical…

Americans for Safe Access (ASA) aims the report at lawmakers each year, prodding them to make progress relative to their…
August 15, 2019

UC Davis Partners With DEA-Approved Company to…

Researchers at the University of California, Davis, have partnered with a federally compliant pharmaceutical company to analyze the chemical and…
August 14, 2019

When It Comes to Sustainability, Hemp Is…

The crop’s legalization could change the industry — and threaten cotton’s dominance.
August 14, 2019

Here’s How Cannabinoids Quell Anxiety - Cannabis…

Cannabis has powerful anxiolytic (anti-anxiety) properties, and when administered as-needed, can provide relief from several anxiety disorders.
August 14, 2019

Auburn, Maine made a map to help…

With new state rules on how to grow, sell and buy recreational marijuana poised to take effect in September and…