Sure looks so. After a financially disappointing REC debut, our 2019 legal cannabis industry is positioned to leap significantly from last year’s $2.5B gross. BDS Analytics projects earnings of $3.1B in 2019 and $7.2B by 2024.
Los Angeles Times
- “Any market in the world would be ecstatic about a 23% growth rate,” said BDS managing director Tom Adams. But the 77% tax and regulatory burden cannot help but make those within the industry dwell on what it’s missing.
- California’s once-foundational Illegal market cannabis is estimated to earn $8.7 before the year is over.
- High taxes and the continued presence of illicit marijuana remain the largest detriments to the developing market’s success. Officials locally and statewide are insisting that California’s civil approach is the most humane and effective approach to wind it down. Criminal enforcement has focused on environmental damage and activity outside the routine.