Canadians will spend up to $7B on cannabis in 2019, Deloitte predicts

After cannabis is legalized throughout Canada later this year, Canadians are expected to increase their consumption of the drug by up to 35 percent and spend as much as $7 billion on legal and illegal sales in 2019.

Accounting firm Deloitte makes those predictions in a new report based on an online survey of 1,500 adults living in Canada's 10 provinces conducted between March 6 and March 20. The survey didn't include residents of territories.

Legal cannabis sales are expected to reach up to $4.34 billion, while illegal sales could be anywhere from $510 million to $1.04 billion, and medical cannabis could account for between $770 million and $1.79 billion of the market, the report says.

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CBC News via 420Intel.com ~