As more and more states legalize marijuana, the more money it will generate and the bigger the industry will become. But just how big could it get? The Huffington Post is reporting that the marijuana industry could be bigger than the NFL by 2020.
A new report from Greenwave Advisors projects that the legal marijuana industry could hit revenues of $35 billion dollars by 2020 if legalized federally. To compare the $35 billion dollars to another big industry, the NFL only pulls in an annual revenue of $10 billion. To put it bluntly: Legalized marijuana would be a massive industry in America.
As of October 2014, only two states – Colorado and Washington – have legalized marijuana at the state level with another 23 states legalizing medical marijuana. Greenwave assumes that by 2020, 12 states plus Washington, D.C. will have legalized recreational marijuana with medical marijuana in 37 states.
Obviously, with predictions of marijuana laws and financial figures, it’s nearly impossible to be sure what will actually happen. That said, it’s no stretch to imagine that legalized pot will be a huge industry in the U.S., even if it’s only legally available in a limited number of states.