Even though it hasn’t exactly been the best year for marijuana stocks, cannabis is still projected to be one of the fastest-growing industries over the next decade. Worldwide weed sales have more than tripled, from $3.4 billion to $10.9 billion between 2014 and 2018, and Wall Street has forecast that sales will grow to between $50 billion and $200 billion by 2030.
Yet make no mistake about it: This growth story is all about the United States. Nearly all estimates on Wall Street suggest that the U.S. will account for a third to a half of all global sales by the end of the upcoming decade. That makes the U.S. the crown jewel of the cannabis movement.
However, we’re already seeing some impressive revenue totals being put up by a number of medical and recreationally legal U.S. states. According to estimates provided by Arcview Market Research and BDS Analytics in their 2019 State of the Legal Cannabis Markets report, there are five states expected to hit the psychologically important $1 billion sales mark in 2019 and 10 that’ll produce, at minimum, $298 million in estimated 2019 pot revenue. Let’s take a closer look at the 10 most important cannabis states, at least in 2019. [Read more at Nasdaq]
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