If approved by voters on Tuesday, new regulated adult-use marijuana markets in Florida and North Dakota – along with a medical cannabis market in Nebraska – could collectively produce $3 billion during the first full year of sales.
Together, the markets are likely to reach $4.3 billion in marijuana sales by the fourth year of operation, according to analysis from the MJBiz Factbook.
Most of the projected revenue would come from Florida, provided voters there approve adult-use sales during the general election on Tuesday.
The state’s 22 million residents and estimated 140 million yearly visitors are likely to spend roughly $2.9 billion on regulated adult-use marijuana once Florida’s new market is launched, putting the state in position to compete with California and Michigan as the largest cannabis market in the United States.
This item originally appeared on MJBizDaily. The rest of the story is available here.
