Marijuana sales could surpass $1 billion in the state of Massachusetts by the year 2020 — if the state chooses to legalize weed for recreational purposes in the fall, that is.

A new study by ArcView Market Research, a marijuana data group, and New Frontier, an industry reporting authority on cannabis, indicates enormous implications for state tax revenue, should Massachusetts choose to regulate and tax the drug.

According to the research, the state's total cannabis market would amass $1.17 billion in revenue by 2020, the Boston Globe reported Sunday.

Researchers note the bulk of this explosive growth in revenue would primarily come from "adult-use" recreational marijuana, which could reach $300 million in revenue in 2018.

Click here to read the complete article

Chris Riotta ~ Mic.com ~

Recent News Articles

Thursday March 12

New bill would change Utah’s medical marijuana program again

in Politics

by Bruce Kennedy - Editor in Chief

SALT LAKE CITY — A new bill again tweaking Utah’s medical marijuana program received a…

2774 hits

Thursday March 12

Baseball is spearheading common-sense cannabis policy in US sports

in Cannabis News

by Bruce Kennedy - Editor in Chief

For a professional athlete, a typical bad day at the office might include a broken…

3292 hits

Monday March 16

COVID-19 restrictions sparking a run on cannabis stores

in Cannabis News

by Bruce Kennedy - Editor in Chief

As governors and mayors across North America order the shutdown of bars, restaurants, and gathering…

1794 hits

Monday March 16

Amid coronavirus, Canadian cannabis stores see ‘unprecedented’ sales surge

in Cannabis News

by Bruce Kennedy - Editor in Chief

Cannabis stores in Ontario and Alberta reported “unprecedented demand” as the country hunkers down to…

1768 hits

Tuesday March 17

NFL Eliminates Suspensions For Positive Cannabis Tests

in Sports

by Bruce Kennedy - Editor in Chief

The National Football League is about to make a dramatic change to its drug testing…

963 hits