California Legalization Could Create $6.46 Billion Market

los angeles marijuana

The eighth largest economy in the world, California, is set to vote for legalization this November. Polls show residents leaning toward “Yes” by a margin of 53%, which is still close.

Once approved, estimates show the newly legalized recreational industry would be an immediate $1.6 billion marketplace, growing to approximately $6.46 billion by 2020. This would mean California would take nearly half of all U.S. recreational marijuana sales.

The move would make the state the “epicenter” of marijuana in the U.S., John Kagia of the analytics firm New Frontier…

Gavin Newsom, Lt. Governor of California, has stated:

“Our purpose is social justice,”

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