Robert Celt
New Member
In states which have legalised cannabis, American authorities are raking in almost $1 billion in tax.
Recreational marijuana sale, which is legal in Colorado, Washington, Oregon, Alaska and the District of Columbia, has increased by 184 per cent.
The industry was worth around $351 million (£243 million) in 2014, but it reached a staggering $998 million (£692 million) in 2015.
According to analytics firm New Frontier and Arcview Market Research, legal weed sales will be worth around $6.7 billion (£4.6 billion) by the end of 2016.
And by 2020, they predict it will have tipped $21 billion (£14.5 billion).
As a comparison, similar 'vice' industries such as tobacco and alcohol are estimated to create around $75 billion (£52 billion) in annual revenue, though it's worth mentioning the rise in cannabis tax revenue comes mainly from states legalising around the elections in November 2014.
And initiatives to legalise marijuana in Arizona, California, Maine, Massachusetts, Michigan and Nevada are already underway.
According to the report, since Colorado introduced sales of cannabis tax revenue for both medical and recreational sales is expected to be up 77 per cent. Around $135million (£9.3million) in total.
Could this kind of cash sway sceptics in the UK to legalise?
Professor Nutt, the prestigious Edmond J Safra professor of neuropsychopharmacology at Imperial College London, recently told Metro.co.uk: 'The ultimate goal of any profiteer is to have an illegal market.
'Illegality increases demand, and you have no controls and don't have to pay tax. So it's a perfect storm.'
He also described how history shows that 'the more you impose legal controls, the more harm you do,' pointing out that Prohibition in the US from 1920 to 1933 gave rise to organised crime.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: The Legal Cannabis Trade Is Now Worth $1 Billion
Author: Nicole Morley
Contact: Metro
Photo Credit: David McNew
Website: Metro
Recreational marijuana sale, which is legal in Colorado, Washington, Oregon, Alaska and the District of Columbia, has increased by 184 per cent.
The industry was worth around $351 million (£243 million) in 2014, but it reached a staggering $998 million (£692 million) in 2015.
According to analytics firm New Frontier and Arcview Market Research, legal weed sales will be worth around $6.7 billion (£4.6 billion) by the end of 2016.
And by 2020, they predict it will have tipped $21 billion (£14.5 billion).
As a comparison, similar 'vice' industries such as tobacco and alcohol are estimated to create around $75 billion (£52 billion) in annual revenue, though it's worth mentioning the rise in cannabis tax revenue comes mainly from states legalising around the elections in November 2014.
And initiatives to legalise marijuana in Arizona, California, Maine, Massachusetts, Michigan and Nevada are already underway.
According to the report, since Colorado introduced sales of cannabis tax revenue for both medical and recreational sales is expected to be up 77 per cent. Around $135million (£9.3million) in total.
Could this kind of cash sway sceptics in the UK to legalise?
Professor Nutt, the prestigious Edmond J Safra professor of neuropsychopharmacology at Imperial College London, recently told Metro.co.uk: 'The ultimate goal of any profiteer is to have an illegal market.
'Illegality increases demand, and you have no controls and don't have to pay tax. So it's a perfect storm.'
He also described how history shows that 'the more you impose legal controls, the more harm you do,' pointing out that Prohibition in the US from 1920 to 1933 gave rise to organised crime.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: The Legal Cannabis Trade Is Now Worth $1 Billion
Author: Nicole Morley
Contact: Metro
Photo Credit: David McNew
Website: Metro
