Legal cannabis sales are expected to continue growing at a healthy clip into the next decade despite objections from Trump-appointed AG Jeff Sessions, according to the latest version of a reputable cannabis business report.
“It’s just so politically unpopular it would be silly,” Arcview CEO Troy Drayton says of a potential Sessions-led federal crackdown. A recent Quinnipiac poll found 71% of voters agreed “the government should not enforce federal laws against marijuana in states that have legalized medical or recreational use.”
Americans spent $6.7 billion on legal pot in 2016, according to the Arcview report, a 34% gain over 2015. Dayton expects slowed growth this year, as states that voted in favor of legalization during the last election likely won’t begin sales until 2018.
The report also confirms that illegal cannabis sales have declined in states with legal programs, Bloomberg reports.
Arcview touts its cannabis research as the world’s most-cited, with mentions by Bloomberg, Forbes, the New York Times, the Wall Street Journal, Fortune, and more.