ACB - Worldwide Cannabis Sales to Grow 853% by 2024 New Report Estimates
It's no secret that cannabis is considered one of the hottest investment trends of this generation on Wall Street. Although selling a processed plant isn't exactly what you might call innovative, the black market for global weed sales generates tens of billions of dollars each year. This means there are clear-cut reasons to believe that these illicit sales can be moved to legal channels in the years to come.
Since 1996, we've seen two-thirds of all U.S. states give medical marijuana the green light, with 11 of these states also allowing adult-use consumption and/or retail sales. Meanwhile, Canada became the first industrialized country in the modern era to legalize recreational cannabis in October 2018. North America "going green" has played a big role in more than tripling global marijuana revenue to $10.9 billion in 2018 from $3.4 billion in 2014.
But, according to The Global Cannabis Report from Prohibition Partners, this is really just the tip of the iceberg.