Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

#Cannabis Initiatives Pass in Three of Four States in Mid-term Election Cycle

Three new markets projected to exceed $2.1 billion in annual sales by 2025

 

Washington - November 8, 2018 (Investorideas.com Newswire) New Frontier Data, the authority in data, analytics and business intelligence on the global cannabis industry has released a special Election Day update to official growth projections based on the results from several cannabis ballot initiatives. The legalization of medical cannabis in Utah and Missouri and legalization of adult-use in Michigan will result in new markets that are projected to account for more than $1.2 billion in additional sales for a combined total of $2.1 billion in total legal sales by 2025. This increase will create more than 30,000 additional cannabis jobs over the same period.

"Cannabis legalization in some form has occurred in nearly 60% of the United States, and based on our research, legal retail sales revenues are currently estimated to be $10.3 billion in 2018; we now project the market to grow to more than $25 billion while supporting more than 642,000 jobs by 2025," said Giadha Aguirre de Carcer, Founder and CEO of New Frontier Data.

The revised projections take into consideration the outcome of four state ballot initiatives:

Michigan passed Proposal 1, legalizing recreational use and making Michigan the fifth largest legal U.S. cannabis market; combined with medical, annual sales are projected to reach $1.9 billion in total legal sales by 2025.

Missouri passed Amendment 2, legalizing state-wide medical cannabis; resulting annual retail sales are projected to reach $111 million by 2025.

Utah voters passed Proposition 2, legalizing medical cannabis; annual retail sales are projected to reach $63 million by 2025.

North Dakota voted down Measure 3, which would have allowed adults to grow, consume and possess as much cannabis as they want, without government oversight and without state taxation; annual recreational sales could have reached $67.5 million by 2025.

About New Frontier Data:

New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policymakers. New Frontier Data's reports and data have been cited in over 69 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver, CO, London, UK, Bogota, Colombia, and Hong Kong.

New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data please visit: http://www.NewFrontierData.com.

Media Contact:

media@NewFrontierData.com
1-844-420-3882 ext. 3


Marijuana / Hemp / Cannabis Stocks at Cannabisinvestorideas.com and Investorideas.com

Investorideas Potcasts is on Facebook  Follow Investorideas Potcasts on Twitter  Investorideas Potcasts is on Instagram  Investorideas Potcasts is on LinkedIn Group 

Investorideas.com potcasts - Listen Daily to Investor Ideas Potcasts #Cannabis News and Stocks on the Move

Check out our stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana / Hemp Stocks

Follow Pot stocks news - Get News Alerts on Marijuana Stocks


Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Investor Ideas does not condone the use of cannabis except where permissible by law. Our site does not possess, distribute, or sell cannabis products.