Marijuana could be a $35 billion market by 2020

Published: July 15, 2015 1:36 p.m. ET

If all 50 states were to fully legalize pot, it could generate big sales

By

KathleenBurke

Reporter

If all 50 U.S. states were to approve the consumption of marijuana for medical and recreational use, it could become a $35 billion market by 2020.

That’s according to GreenWave Advisors, an industry research firm that tracks retail sales in the four states and the District of Columbia that have already legalized it. Those markets have experienced explosive growth since marijuana was approved, demonstrating the strong opportunity for industry players and state governments eager to gather the tax on sales and replenish their coffers.

The sale of recreational marijuana in Washington began July 8, 2014, and has steadily grown to $31.9 million in June from $2 million in that first month, or a total of nearly $180 million for the first 12 months, according to…