By Matt Agorist
An “exhaustively researched” report by analysts with ArcView Market Research show that the legal weed biz is exploding — exponentially.
According to the report, the legal sales of this amazing plant have jumped 17%, to $5.4 billion, in 2015 and they will grow by a whopping 25% this year to reach $6.7 billion in total U.S. sales.
The marijuana industry is quickly becoming a market force to be reckoned with.
According to The State of Legal Marijuana Markets report, the legal cannabis market will see a whopping $21.8 billion in total annual sales by 2020. By comparison, at that point, according to Fortune, the legal marijuana market could be bigger than the National Football League, which saw roughly $12 billion of revenue last year but is aiming to reach $25 billion by 2027.
These numbers are staggering considering the first time recreational marijuana was sold legally in the United States was only two years ago in Colorado. The tax revenue from legal weed has politicians, in states where the plant will get you thrown in a cage or killed, chomping at the bit to tap into the high times windfall.
2016 could be a record year for ending the war on pot as ballots are underway in Arizona, California, Maine, Massachusetts, Michigan, and Nevada, while a handful of other states could also put legalization to a vote.
Over the last two years, a paradigm shift has begun as the state’s reefer madness crumbles and polls are showing that now, a majority, 58% of Americans back legalization.
The legalization of cannabis can not happen fast enough. Aside from recreational use, cannabis research for the treatment and prevention of disease is proving to be nothing short of miraculous. From healing broken bones to treating PTSD and killing cancer cells, the benefits of this plant are seemingly endless.
Despite cannabis prohibition, even politicians are starting to break the law to provide people with cannabis. Rep. Allen Peake, a Georgia lawmaker, admitted that he defies unjust cannabis prohibition by bringing medical cannabis into Georgia from states where it is legal, such as Colorado. He recently delivered medical cannabis to a mother whose son suffers from seizures.
As Fortune reports, ArcView expects the legal pot market to show a compound annual growth rate of nearly 30% over the next few years. “I think that we are going to see in 2016 this next wave of investors, the next wave of business operators, and people who’ve sort of been watching or dipping their toe in, really starting to swing for the fences and take it really seriously,” ArcView CEO Troy Dayton said in an interview.
The times are changing, and those who continue to throw people in cages or kill them for possessing a plant are being exposed for the vile tyrants they are. No amount of state-sponsored violence and force can stop the idea of ending the war on marijuana whose time has indeed come.