According to an economic analysis by New Frontier Data, marijuana sales in the United States will reach $ 43 billion a year by 2025. The traditional underground market accounts for a similar or potentially larger amount of wealth.
Legal marijuana sales have increased to historic levels in recent months, with sales totaling nearly $ 6 billion in the first quarter of this year. Retail sales are expected to increase in the coming months when other states – such as New Jersey and New York – begin licensing cannabis retailers.
The New Frontier Data analysis estimates that by 2025, “42 percent of U.S. annual cannabis demand will be met by legal purchases in regulated markets.” Much of the underground market is the result of legal sales bans. For example, local governments in California, the nation’s largest cannabis market, have banned legal sales in about 70 percent of the state,
Of the $ 43 billion in annual sales projected for 2025, analysts estimate that about 62 percent of transactions will involve purchases for adult use while the remaining 38 percent will be sales of medicinal cannabis.
For more information, see the NORML factsheet.Marijuana Regulation: Impact on Health, Safety, Economy.‘