The Legal Marijuana Industry in the U.S.: Its Past, Present and Future [Infographic]

Published: Mar 5, 2015

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Lance Surety Bonds‘ latest infographic about the legal marijuana industry in the U.S. is out!

The infographic is a review of the whole legal marijuana industry – from its current status to its future development. This includes the different types of marijuana establishments, the figures in taxes and sales the industry has generated in 2014, the ways marijuana is regulated across states and more.

Drawing on a wide number of authoritative sources (among which the highly informative report by the ArcView group), the infographic shows just how successful this industry has been during the short amount of time it has existed. Its tremendous growth over the past year (with $2,7 billion in combined retail and whosale sales, excluding taxes and fees!) has made it the fastest growing industry in America. And if marijuana were to be legalized across the whole country, the industry would, according to estimates, generate a total of $36.8 billion in sales, surpassing the NFL by $26 billion!

Among the 23 states (+ D.C.) that allow medical marijuana and the 5 states (+ D.C.) that allow recreational marijuana, some have been doing better than others. Most notably, Colorado has assumed leadership and has led the parade over the course of last year.

Its growth and steadily improving business-friendly legislation (when compared to other states) have made it a worthy competitor of California. The latter still holds the title of being the most lucrative marijuana market in the U.S. yet has slowly been falling behind due to a legislative mess that seriously impedes further growth and development.

And as we speak, further states are voting on and pushing for laws that would either decriminalize marijuana, allow for dispensaries or even fully legalize it. By 2016 it is expected that as many as 12 states may have legalized the use of recreational marijuana and more than 24 states that of medical marijuana.

Make sure to check out the infographic for a full overview of the legal marijuana market in the U.S. and other notable facts around its development!

Marijuana-Industry-US-Infographic

The state of the legal marijuana industry in the U.S.

 

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.