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Cannabis Legalization Gains Popularity
9:00 AM ET 9/14/17 | Dow Jones




FinancialBuzz.com News Commentary

NEW YORK, September 14, 2017 /PRNewswire/ --

According to a forecast report by Arcview Market Research, growth in the legal cannabis market will reaccelerate in the beginning of 2018, as adult use (recreational use) sales are expected to ramp up in Canada, California, and Massachusetts along with medical sales in Florida. The market is expected to grow from the $6.7 billion market value of 2016 and at a robust 27% CAGR to $22.6 billion in 2021. That 20+% annual growth rate is likely to continue for many years past 2021 as more states and countries legalize cannabis. Arcview Market Research includes 30 states plus Canada with active legal markets by 2021. Global Payout, Inc. (OTC: GOHE), Surna, Inc. (OTC: SRNA), Kush Bottles, Inc. (OTC: KSHB), GB Sciences, Inc. (OTC: GBLX), Cannabis Science, Inc. (OTC: CBIS).

The report indicates that Americans are mostly approve of legalization legislation. "Polls show that 80% of Americans approve of legal access to medical cannabis and 60% approve of full adult use legalization. That level of agreement is rare on any policy issue and it's allowing elected officials across the political spectrum to start to move past the stigma previously associated with this issue. One key reason support for legalization is spreading so rapidly is that it is accomplishing a key goal: the illicit market is shrinking. Illicit sales are now being rolled back at the fastest rates in those states with the most mature legal adult use markets," Arcive Market Research states.