Marijuana Legalization in Massachusetts Could Rake in a Whopping $1 Billion in 4 Years – Marijuana News
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.
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Chris Riotta ~ Mic.com ~