Americans Spent $1B More On Cannabis Than Viagra and Cialis in 2016

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Share Tweet Share PinThe billion-dollar cannabis industry is a rising tide with no horizon in sight. In 2016, combined adult-use and medical marijuana sales garnered $4-4.5 billion in sales — or over one billion more than Americans spent on Viagra and Cialis or Paid Music Streaming Services. Moreover, the economic impact on communities with legal cannabis companies appears clearcut. By allowing large cultivation facilities to be constructed, the town of Adelanto — once possibly disbanding due to financial strain — was literally rescued by the cannabis industry. Along with this economic impact, more jobs are being created: “The cannabis sector now employs between 165,000-230,000 full and part-time workers.” To put that in perspective, that’s more cannabis employees than bakers and masseuses: MJ Biz Daily Perhaps the nation’s quarter-century low unemployment rate should thank the cannabis industry?

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The billion-dollar cannabis industry is a rising tide with no horizon in sight. And according to MJ Biz Daily’s recent Factbook report, that tide is only growing stronger.

In 2016, combined adult-use and medical marijuana sales garnered $4-4.5 billion in sales — or over one billion more than Americans spent on Viagra and Cialis or Paid Music Streaming Services.

Factoring in the regulated and black markets, the cannabis industry’s estimated demand in the United States checks in at a cool $45-50 billion. Along with this economic impact, more jobs are being created: “The cannabis...

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