We all know those sneaky Yanks (and Canadians) are all stoners – hell, medical cannabis is legal in over half of the USA and recreationally legal in eight states… and that’s not even mentioning BC Bud or Canada’s reputation for loving green. However, a report from cannabis market research group ArcView has put a startlingly huge figure on this love of pot – $70b (US$53b).
The vast bulk of dope sales – 87% – was on the black market, totalling $62b (US$46.4) of the $70b, according to the report, which is set to be published next month and was accessed by marijuana.com. Only the remaining $8b was legally sold and taxed.
ArcView also reckon the legal marijuana market in North America is set to grow 26% over the next four years, and should make $29b ($US21.6b) of taxable revenue.
In November, the governor of Colorado John Hickenlooper announced bold new plans to spend $16.4m (US$12.3m) of marijuana tax money on combating homelessness.
More: Colorado’s bold plan to spend $16m+ in weed taxes on the homeless
