By the Numbers: Marijuana Boom

According to a new reported titled the 2018 Marijuana Business Factbook released by Marijuana Business Daily, marijuana sales are skyrocketing where legal.

9

The number of states that have legalized recreational marijuana. The District of Columbia has also legalized recreational use, and Canada’s recreational market opens in October.

64

The percentage of Americans who support marijuana legalization, including majorities from the two major political parties – 72 percent of Democrats and 51 percent of Republicans.

94

The percentage of Americans who support medical marijuana. That represents 96 percent of independents, 95 percent of Democrats and 90 percent of Republicans.

2012

The first year recreational marijuana was allowed in the United States (in Colorado and Washington state).

121,000

The number of U.S. workers employed in the marijuana industry in 2017. That is expected to almost triple by 2021.

$49 million

The amount in marijuana taxes the state of Nevada has collected since launching legal sales in July 2017.

$120 million

The amount of marijuana sales tax the state of Oregon has earned the last two years.

$304 million

The amount of adult-use marijuana sold in Nevada since going legal in July 2017.

$360 million

The amount in sales of CBD for medical purposes in 2017. That is expected to grow to $1.1 billion by 2020.

$650 million

The amount of taxes California is expected to collect this year after its first full year of legal recreational sales.

$2.8 billion

The estimated taxes U.S. marijuana business owners will owe the federal government for 2018.

$4.5 billion

Projected sales this year for medical marijuana, up from $3.7 billion in 2017.

$10 billion

The estimated legal marijuana sales anticipated this year. It was $6.2 billion in 2017, but California jumped on the bandwagon in January.

$22 billion

Projected legal U.S. marijuana sales by 2022.

Source:  greenentrepreneur.com, gallup, Quinnipiac University poll, New Frontier Data, Hemp Business Journal