Pubdate: Thu, 10 Apr 2014
Source: USA Today (US)
Copyright: 2014 USA TODAY, a division of Gannett Co. Inc
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Author: Gary Strauss

POT SALES MAY RAKE IN $8.2B BY 2018

Journal Expects Rise Over Earlier Forecasts

Bolstered by decriminalization laws in Washington state and Colorado, 
marijuana could become an $8.2 billion retail business by 2018, an 
industry trade journal says.

That's a 33% jump over earlier forecasts and a five-fold increase 
over expected 2014 retail and medical sales, according to Marijuana 
Business Daily.

The publication boosted 2018 sales estimates due largely to a Justice 
Department decision to take a hands-off approach to drug enforcement 
in Colorado and Washington, which allow limited, legal use of pot, 
and the assumption that up to six more states could allow 
recreational and medical use. Chris Walsh, editor of CannaBusiness 
Media, which publishes Marijuana Business Daily, said the $8.2 
billion sales estimate could be conservative and doesn't include 
wholesale revenue or marijuana-related products. "The reality of 
retail sales could be larger," he said.

Recreational sales are predicted to hit up to $4.2 billion by 2018; 
medicinal sales up to $4 billion. The year would mark the first that 
recreational retail sale revenue would outpace medicinal sales, 
Marijuana Business Daily reports.

In Colorado, where retail sales of recreational pot began Jan. 1, 
state budget experts expect $1 billion in sales in 2015. Washington, 
where recreational sales begin June, could see $1.5 billion in annual 
sales by 2015.
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