Karnes Expects Colorado’s Market To Reach $1.7 Billion In 2021, And If Michigan Passes Recreational Marijuana, Then Its Market Could Total $1.3 Billion In 2021.

A chart showing the estimated size of the marijuana market in California, Washington, Pennsylvania, Colorado, and Michigan. Medical marijuana got a green light in the state last year, and it Marijuana Stocks could be one of the next states to consider recreational marijuana. According to reports, 900 applicants are competing for the initial 27 dispensary and 12 grower-processor medical-marijuana permits in Pennsylvania. If that’s any indication, then recreational-marijuana laws could pass, putting this market on its way to $1.8 billion in sales in 2021. Colorado and Michigan could also be top states for marijuana companies to target. Karnes expects Colorado’s market to reach $1.7 billion in 2021, and if Michigan passes recreational marijuana, then its market could total $1.3 billion in 2021. In 2008, 63% of Michigan voters passed medical marijuana, and that market now serves more than 200,000 patients. While pro-pot advocates fell shy of getting recreational marijuana on Michigan’s ballot last year, marijuana advocates are already working on getting recreational marijuana on the ballot in 2018. Top marijuana stocks to buy Sales in these five states could propel the U.S. marijuana market to $30 billion in 2021, according to GreenWave Advisors, and if marijuana secures national approval, Cowen & Co. estimates sales could soar to $50 billion by 2026. Obviously, there’s a lot of money up for grabs.

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