Medical Marijuana shop in Denver, Colorado. Photo: O'Dea (CC)
The medical marijuana market has had a significant growth this year. With seven states who have opened shop and five more states planned to approve medical marijuana outlets this year, cannabis could save many states’ economies. Medical News Today reports:
Medical marijuana is now a serious $1.7 billion dollar market, according to a new report released this week by an independent financial analysis firm that specializes in new and unique markets. Currently, 24.8 million people are eligible to receive a recommendation and purchase marijuana legally under state laws, and approximately 730,000 people actually do.
Ted Rose, editor of the new State of the Medical Marijuana Market 2011 report, comments:
“Medical marijuana markets are rapidly growing across the country and will reach $1.7 billion this year. We undertook this effort because we noticed a dearth of reliable market information about this politically charged business. Hundreds of businesses exist around the country that cultivate and sell marijuana to customers. Many of these businesses emerged in the wake of the Obama Administration’s decision to deprioritize federal prosecutions of individuals and business complying with state medical marijuana laws. The State of the Medical Marijuana Markets 2011 shows which states represent the most active markets, who is making money, and how are they doing it.”
[Continues at Medical News Today]