A lot of internet space has been devoted to the areas where marijuana is on the ballot, but not much has been said about the effects of these ballot measures.
If a majority of voters in Florida, North Dakota, and Nebraska vote in favor of their respective marijuana measures, it’s estimated that this would generate $3 billion in sales in just the first year of their existence. That number would exceed to $4.3 billion by the fourth year. This is all according to an analysis done by the MJBiz Factbook.
Of course, most of this would come from Florida alone, considering they’d be competing with California to be the largest market in the country almost instantly. They’d make up $2.9 billion, North Dakota would see $70 million, and Nebraska’s medical marijuana market would make up the final $50 million. It’s pretty wild to see the stark differences between states.
60% of Americans would have recreational marijuana available to them if both Florida and North Dakota vote in favor.
South Dakota also has a recreational marijuana measure on its ballot, but it doesn’t create a marketplace for the plant, so it couldn’t be added to the amount here.
Happy election day!
Read the full report at MJBizDaily.
