By 2020, Marijuana Revenue Will Be As High As You Are
In the year 2020, we probably still won’t have achieved gender and racial equality, but at least we’ll be able to chill on our couches for hours, content with the knowledge that marijuana sales are expected to rake in over $21.8 billion that year. That bud of knowledge comes from a new report from resident weed analyst group ArcView Market Research’s annual study on the growth of legal weed in the United States. We’ve always been fans of the plant and its effects on everything from IQ and ANTI, to Shakespeare and higher education. The fact is, as more states take steps to legalize medical and recreational marijuana, income from weed is exploding like a beautiful kaleidoscope of colors in front of your eyes, man.
Open your mind (and try to open your eyes) for the premium indica…tors of where the market is heading. When marijuana first slid into the legal markets in 2014, revenue topped out at about $4.6 billion, which is coincidentally the same amount of money that Cheech and Chong have spent on the plant in their lifetimes. That revenue increased by 17 percent in 2015 to $5.4 billion, and current projections for 2016 are around $6.7 billion, which is more chill than the bloodshot eyes you were rocking when you opened the door for your Seamless order of ice cream at 1AM last night. Add to that the celebrity marijuana lines from the likes of Snoop Dogg, and it should come as no surprise that marijuana revenue is now as high as you are.
Real talk though, with marijuana legalization inching towards full legalization on the federal level if America starts to #FeelTheBern (or if more states legalize it in November), we’re on the cusp of something major. As fun as it is to smoke your bong and watch Adventure Time while eating nachos, the reality of marijuana legalization is that these billions of dollars in revenue come on the backs of millions of people who have been incarcerated for possession of weed. If we’re going to raise our joints in celebration of weed surpassing the annual income of the NFL by 2020, we’ve also got to talk about the ugly truths of the War on Drugs. Blaze up, speak out, and legalize it, bruh.
Stay tuned to Milk for more high-quality weed news.
Main image by Kathryn Chadason. Additional image via Tumblr.