On Jan. 1, weed aficionados in California were finally able to do what they say they’ve always wanted — legally buy marijuana, no prescription required. But small farmers who had been selling on the black market were not uniformly delighted by the change.
For decades, the illegal weed industry has been a lucrative industry. Then came increasing legalization that created its own boom: In the United States, the total medical and recreational market for pot is expected to hit $2.6 billion in revenue this year, reports the Financial Times. Nine states have now legalized recreational sales, and 29 states have legalized medical marijuana. Colorado alone recorded nearly $4.5 billion in sales since recreational stores opened on Jan 1, 2014.
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