Nevada Legal Cannabis Market Expected To Reach Over $620 Million By 2020

Nevada presents significant opportunities for investors and operators in the legal cannabis market due to the state’s rank as a top tourism destination, generous patient reciprocity laws, and the allowance for medical cannabis businesses to be formed as for-profit enterprises.

Nevada voters will decide in November whether to approve the ballot initiative to tax and regulate marijuana like alcohol in the state.

According to New Frontier and Archview Market Research, over the next four years, annual legal cannabis sales in the state are projected to grow at a compound annual growth rate of 51%; from $121.6 million in 2016 to an estimated $629.5 million by 2020.