Global cannabis sales could hit $15 billion this year

U.S. & World

Cannabis sales are going up on a global scale due in part to Canada’s recent legalization of marijuana.

The world’s cannabis market could hit $15 billion this year, up 36% from 2018, according to industry insiders.

That includes the sale of CBD based pharmaceuticals, revenue from medical and recreational dispensaries, hemp derved products and non-psychoactive CBD.

The annual “the State of Legal Cannabis Markets” report was released Thursday.

Meanwhile, Colorado’s pot business is booming, to say the least.

Last week, the Colorado Department of Revenue reported that it has made more than $1 billion in revenue since it legalized marijuana sales in 2014.

That number combines marijuana taxes, licenses and fees.

The CDOR says that marijuana sales alone in the state have exceeded $6.56 billion,

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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