Legal cannabis will be a big boost for the American economy!

The War on Drugs is not something most Americans think is good for the USA. For example, the voters in California have passed an amendment in 2016 that legalizes the recreational use of marijuana. And this law came to effect on the first day of the year, making getting high for fun legal.

Soon after that an analysis by the BDS Analytics, that specializes in analyzing marijuana markets, has been released, showing what the potential results of this newly created industry of legalized cannabis will be. And their estimates sure are interesting.

Legal cannabis should generate 40 billion dollars and create more than 400 thousand jobs in the year 2021

The estimates are based on over 20.8 billion dollars generated by sales of cannabis to customers and indirect incomes for the farmer and many suppliers that the industry will need. In 2017 people have spent about 16 billion dollars for cannabis, which results in a 150% increase until 2017. BDS Analytics also assume that the legal cannabis industry will bring over 4 billion dollars in tax revenue in the next three years. The legalization should bring almost 100 thousand jobs to California, about one-third of jobs created because of legal cannabis in the U.S. If jobs created indirectly become part of the estimates then the estimates rise to about 146 thousand jobs.

California, the most populous state in the USA, became the largest market for legal cannabis in the world. The public is very happy about this move. Many stores have lines before them and the marijuana is being quickly sold out.