According to the latest data from the Marijuana Business Daily, the legal cannabis industry in the United States is well on its way to realizing $1.5-billion in revenue in 2016. What's more, combined monthly recreational marijuana sales in Colorado, Oregon and Washington State averaged approximately $122.5-million: $2.5-million more than another fast-growing industry - food trucks.
All three legal states saw significant monthly increases in recreational marijuana sales: it's anticipated that Alaska's recreational industry, too, will get moving in the second half of this year, a fact which could push overall revenues even higher.
Colorado alone averaged $62-million from January through April, with record sales in April of $76.6-million. Over the same period in Washington, sales totalled $229-million, or an average of $46-million per month. Given Washington's plan to expand its recreational industry as of July 1, those numbers could climb much higher; however, it's still difficult to predict what the coming months will look like in Oregon's nascent recreational market.
If the numbers coming in from other legal states are any indication, however, things aren't looking too bad at all. Check out the chart below, or read Eli McVey's full analysis here.