Legal US pot sales soar to $5.4B in 2015: Report

[Robrites]

Legal U.S. pot sales soared to $5.4 billion for 2015, up 17.4 percent from $4.6 billion in 2014, according to data released Monday by the ArcView Group, which tracks the cannabis markets.
The figures include medical and adult consumer sales. However, the annual gain was largely fueled by the explosive growth in consumer sales, as some states have approved adult recreational marijuana use. Adult use sales grew to $998 million from $351 million in 2014, according to the research. And voters in more states, including California, are likely to take up the issue in 2016.
By many measures, 2015 was a bellwether year for marijuana, as states like Colorado and Washington paved the way for new business models and growth. Entrepreneurs have opened spa-like retail shops for adult users and medical cannabis sales. The social experiment to abolish cannabis prohibition in some instances is melding with a for-profit corporate culture.
The growing cannabis market features a variety of innovative consumer-facing products such as vaporizers, edibles and capsules. As an example, Colorado adult use sales surpassed $100 million last year for the first time.
Washington state also saw strong monthly sales gains in 2015 — growing some three fold — with $75.3 million in sales for December from $18.8 million in January 2015. Sales of edibles and extracts in Washington already number in the hundreds of thousands of units in a single month.



Read the Rest... http://www.cnbc.com/2016/02/01/legal-us-pot-sales-soar-in-2015.html

 

[_tessarecting]

The proof is in the pudding
is laced with hash oil

 

[Robrites]

National cannabis brands?

National cannabis brands?

Like in any boom industry, growing sales and investors are forcing the cannabis industry to adapt and grow in sophistication.

"There are more well capitalized, sophisticated players getting into the space and buying up smaller players," Dayton said. "We're also seeing small palyers grow into bigger players and increase the talent pool of their executive teams."

For now, a cannabis company must obtain individual state licenses to operate and sell in different states. This makes the emergence of medium-sized companies and ultimately national brands — a precursor to a public listing or initial public offering, down the line — trickier.

But the growth among existing players is expanding, with a handful of pot companies now pocketing anywhere from $30 million or $40 million in annual revenue, Troy said.

 

[IndicaIsland]

If that 5.4 billion is not in banks, where the heck is it? (I won't tell anyone)

 

[Robrites]

Marijuana businesses are expected to make almost $7 billion this year — but no one kn

Marijuana businesses are expected to make almost $7 billion this year — but no one kn

Legal marijuana is the fastest growing industry in the United States, according to a new market research report, which found that state-sanctioned weed sales skyrocketed by 80 percent last year to more than $5 billion — and the bulk of those purchases were made in cold, hard cash.

While the legal weed business has continued to boom — 23 states and Washington, DC allow some form of medical marijuana, and four states permit recreational sales — the drug remains strictly illegal under federal law. That means banks, which are regulated by the federal government, are still refusing to work with state-approved pot shops for fear of running afoul of money laundering laws. The situation has made handling those huge piles of cash an increasingly tricky issue for marijuana entrepreneurs.

Last July, a group of senators introduced the Marijuana Businesses Access to Banking Act, with the intention of bridging the state-federal disconnect.

"Forcing businessmen and businesswomen who are operating legally under Oregon state law to shuttle around gym bags full of cash is an invitation to crime and malfeasance," said Senator Jeff Merkley, a Democrat from Oregon. "It's time to let these banks serve these legal businesses without fearing devastating reprisals from the federal government."

 

[MJPassion]

And the trend line goes up, up, up...

I dont think there will be any leveling of the trend line until at least 75% of the states have legalized Rec weed.

 

[stoned-trout]

once the feds come on board ,,,,the market will become highly regulated and OVER TAXED.....yeehaw...I personally think things are gonna get ugly for the little guy and the home grower....how is Marlboro depositing all their cash from weed sales of M packs of joints????

 

[FunkBomb]

Non-legal states will be looking at this simply as a way to steal more money from the already over-taxed populous. Think of the demographic cliff of the baby boomers retiring and taking their social security and medicare/medicaid. Combine that with the lower availability of good paying jobs. Feds may jump into the fray, but it depends if their overlords big pharma will let them.

With legal sales at 5.4 billion, one can only imagine what the non-regulated market is doing. I bet a lot more than 5.4 billion.

-Funk

 

[Jellyfish]

With legal sales at 5.4 billion, one can only imagine what the non-regulated market is doing. I bet a lot more than 5.4 billion.

I bet you're right.

 

[stoned-trout]

they wont see much tax money from me that's for sure...I do buy and sample some stuff now and then but its rare....yeehaw..I see myself going back underground in the future ...

 

[stoned-trout]

when everyone arrested for mj has been released I might consider paying taxes ...and they should admit its been a conspiracy all along ....yeehaw

 

[HidingInTheHaze]

I bet the black market is holding triple that under its mattress.

 

[IndicaIsland]

I bet the black market is holding triple that under its mattress.

And I am thinking you are on the low side.

 

[Picarus]

A huge chunk of that goes directly to local businesses. Gas stations, restaurants, grocerers, home depot, etc. The states that have shunned legalization or medical marijuana have already lost that local talent and local influx of $$$.

 

[Robrites]

A huge chunk of that goes directly to local businesses. Gas stations, restaurants, grocerers, home depot, etc. The states that have shunned legalization or medical marijuana have already lost that local talent and local influx of $$$.

Exactly.