As reported by BusinessInsider.com
- The US marijuana industry is worth billions of dollars, and is showing no signs of slowing down.
- Ten US states have legalized recreational marijuana use, and 33 have legalized medicinal use. See if you qualify for a medical marijuana recommendation with DocMJ.
- Read on for eight surprising facts about the marijuana industry.
- Visit MarketsInsider.com for more stories.
The marijuana industry is booming in the United States.
From the $52 billion in sales the industry posted to the 76% increase in cannabis jobs this year, there are plenty of statistics to show marijuana’s startling contributions to the US economy.
Marijuana initiatives have swept through state legislatures in recent years. Recreational marijuana use is legal in 10 US states, while medicinal marijuana is legal in 33 (see here the state-approved symptoms for medical marijuana). Illinois became the most recent state to weigh the topic when Gov. JB Pritzker introduced a bill to legalize the drug on Saturday.
Now, the industry is showing no signs of slowing down.
Read on for eight interesting facts about the US marijuana industry:
Marijuana Business Factbook estimates the legal-marijuana industry’s economic impact in the US was between $20 billion and $23 billion in 2017. It estimates the economic impact could reach as high as $77 billion by 2022.
Those numbers are comparable to the GDPs of Idaho and West Virginia, which were both a tick over $77 billion in 2018, according to the Bureau of Economic Analysis. And it’s worth more than the GDP of nine states, including Delaware, Alaska, and both North and South Dakota.
