On Jan. 1, marijuana sales for recreational use became legal in California. Shares in cannabis-related companies have taken off, adding nearly $2 billion in value since pot started being sold legally within the borders of the world's sixth largest economy. California is by far the largest state to press ahead with legalization, and that's going to have a considerable impact on the U.S. marijuana industry in the years ahead. Unsurprisingly, the grass is going to get very green indeed.
The Cannabis Industry 2017 Annual Report shows that sales of marijuana, both recreational and medical, are really going to take off in 2018. This year, sales of the recreational stuff are expected to reach $4.75 billion while the medicinal variety will top $6 billion. By 2023, combined sales of both forms are forecast to break the $20 billion barrier before hitting $24 billion in 2025.