America’s addiction to medical marijuana has reached a historic milestone. Between the first day of legal sales in California in January, and the end of the year, the U.S. cannabis market has skyrocketed to $14.6 billion. That’s according to Cannabiz Media, which is a web-based cannabis industry media company.
Legal cannabis sales shot up to $17.5 billion during the pandemic as dispensaries helped Americans stock up on marijuana. The pandemic of 2015-2016 saw a dramatic increase in people acquiring medical marijuana. Doctors who treat chronic pain, as well as those who treat chronic pain patients, are reporting a spike in patients with chronic pain who have experienced a dramatic increase in the amount of Cannabis they are using.
After several years of sales growth, legal cannabis sales reached a new record high of $17.5 billion for 2016, and the industry is expected to continue to increase in value. Marijuana is now the second most valuable crop in America, surpassing tobacco, and the industry is expected to reach $50 billion by 2021.
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