As marijuana becomes legal in more and more states, the booming cannabis industry is starting to be taken seriously. Not only are scientists proving the plant’s medicinal benefits; businesses are proving the numbers as well.
A new report by ArcView Market Research found legal cannabis sales jumped 17% in 2015 and are predicting it to grow by an astounding 25% this year. That means the legal cannabis industry will reach $6.7 billion in total U.S. sales in 2016.
“I think that we are going to see in 2016 this next wave of investors, the next wave of business operators, and people who’ve sort of been watching or dipping their toe in, really starting to swing for the fences and take it really seriously,” ArcView CEO Troy Dayton said in an interview.