Refine News

Whoa, Canada! Retail Marijuana Market Could Top $4.5 billion

Whoa, Canada! Retail Marijuana Market Could Top $4.5 Billion

Canada is slowly but steadily inching towards becoming the second country on earth to legalize cannabis on the national level, with dreamboat Prime Minister Justin Trudeau’s government promising to present a plan to do just that sometime next year.But unlike tiny Uruguay, which technically legalized a few years ago but where retail recreational marijuana storesare still nothing more than a nice-sounding idea, Canada’s Liberal government says sales could begin as soon as 2018.And when they do, oh—the billions will flow.A legal Canadian cannabis marketplace has the potential to record sales in excess of $4.5 billion—that’s in American dollars—by 2021, according to an industry estimate cooked up by Canaccord Genuity, a Vancouver-based financial services firm.And assuming that a federally licensed retail-marijuana marketplace captures the demand currently being fulfilled by the black market, Canadian marijuana consumers could buy about 882,000 pounds in the first year of retail sales,...

See Article on HighTimes HERE