The U.S.’s marijuana industry is poised to be among the fastest growing sectors of the economy, outpacing even the smartphone market’s booming growth, a new study says.
The legal marijuana market in the U.S. is projected to grow by 64 per cent over the next year, to $2.34 billion U.S., according to the second edition of the State of Legal Marijuana Markets reports.
But what about Canada? It seems despite its reputation for progressive attitudes on weed, the Great White North is falling behind its southern neighbour on the issue. One way this can be seen is in the prices people pay for pot.
A decade or more ago, high quality B.C. bud retailed on the streets of Los Angeles for as much as $600 per ounce, three times what it cost in B.C. According to PriceOfWeed.com, a website that crowdsources data on marijuana prices, an ounce of high-quality weed in California these days goes for about $249 U.S.
With the U.S. moving steadily towards more liberal policies on weed, Canada’s price advantage on weed has all but disappeared.
– Read the entire article at The Huffington Post.