California's Marijuana Industry May Be in Deep Trouble, Depending on Your Perspective
From growers to investors, the marijuana industry has most everyone seeing green.
According to cannabis research firm ArcView, legal weed sales are expected to grow in North America by 26% a year through 2021, yielding a nearly $22 billion market. Of course, that could be touching the tip of the iceberg considering expansion opportunities in the U.S. and throughout the rest of the world.
At the heart of this growth in the U.S. has been a major change in the way consumers view pot. National pollster Gallup showed in 1995, the year before California became the first state to legalize medical cannabis for compassionate use, that just 25% of respondents favored the idea of national legalization. By October 2017, favorability toward national legalization rose to 64%, an all-time high. A separate poll from the independent Quinnipiac University in April 2017 found an overwhelming 94% support for medical cannabis' legalization.
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