The Dollar Value of the U.S. Weed Market Is Already Huge

The marijuana market as a whole is a lot like the Grand Canyon - it looks fantastic up close, but from a distance, it's absolutely breathtaking. Last year, total marijuana sales - legal and black market - in the United States topped $86 billion. In 2018, all across the country, nearly 49 million people spent an average of $1,755 each on marijuana. The thing is, some $68 billion of that was from totally illegal black market sales. But that still leaves us with around $18 billion in legal transactions. For comparison, that's about the size of the U.S. urgent care healthcare segment in 2018. So the "$68 billion question," as it were, is how quickly that "legal gap" will close and start putting mega-profits in pot stock investors' pockets. The short answer: much faster than anyone out there is predicting. Bringing illicit sales into the legal "light" doesn't require convincing new customers to try something new; no new consumption habits need to be formed. It's a well-established market, full of folks just waiting to fork over their money. And they will fork it over by the truckload... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2019 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Dollar Value of the U.S. Weed Market Is Already Huge appeared first on Money Morning - We Make Investing Profitable .