Retail sales of medical and recreational cannabis in the United States are expected to hit $8 billion-$10 billion this year – a nearly 50% increase from 2017 – and rise as high as $22 billion by 2022.

That’s according to exclusive projections from the 2018 edition of the Marijuana Business Factbook released Wednesday at the start of MJBizConNEXT in New Orleans.

The anticipated explosive industry growth is a backdrop for MJBizConNEXT, which is hosted by Marijuana Business Daily. The industry conference is expected to draw 3,000 marijuana professionals and 280-plus exhibitors from around the globe.

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Eli McVey, John Schroyer and Jenel Stelton-Holtmeier ~ MJBizDaily.com ~