California’s legal marijuana will outsell the black market in 5 years, forecast says

California’s black market for marijuana still rakes in more cash than the state’s legal cannabis industry, but a new analysis suggests the dynamic could flip within five years.

The forecast, from BDS Analytics and Arcview Market Research, estimates that California’s total cannabis market is expected to earn about $12.8 billion this year, with $8.7 billion going to illicit operators and $3.1 billion to the state-authorized market.Her next scheduled study will look at how late-stage cancer patients can perhaps use cannabis for pain relief.

However, in 2024 legal marijuana sales are forecast to reach $7.2 billion, surpassing the projected $6.4 billion in illicit cannabis sales.

“A good number of California’s legal cannabis businesses are finding out they can compete, with their convenient, modern storefronts and delivery services, and branded edibles, concentrates, topicals and other products the illicit market largely doesn’t offer,” according to the report.

Click here to read the complete article

ANDREW SHEELER~ The Sacramento Bee ~

U.S. News 20 August 2019