Cannabis Sales Total $5.4 Billion
In 2015, national sales of legal cannabis totaled around $5.4 billion; an increase from the 2014 sales totaling at $4.6 billion. Although cannabis has yet to have been legalized nationwide, the country is expected to make $6.7 billion in marijuana sales this year.
According to the ArcView/New Frontier report summary, $998 million of the total sales were non medicinal. The estimates are based partly on state tax receipts and data on medical and recreational sales.
As cannabis legalization sweeps the country, the report summary expects legal market sales were forecast to be $21.8 billion by 2020. Brandy Keen, a co-founder of Surna, a company that makes technology for indoor cultivation, stated, “This is an industry that came out of the basement. It grew out of closets and basements and hidden facilities in cinder-block buildings.”