A law passed in 2016 will go into effect on January 1 and will allow recreational marijuana to be legal in California, making its market the largest on the planet, AFP reports.
After this event, everyone will be paying attention to the experiment that could be a very profitable business.
Arcview, a firm dedicated to researching the cannabis market, estimates that the money generated by this herb will grow to $22,600 billion in 2021, compared to the $6,700 billion it generated in 2016.
In California, earnings will reach $5,800 billion in 2021, up from $6,700 billion in 2016.
Although several states in the country, such as Washington DC, have already legalized the recreational use of marijuana, none of these initiatives can compare to that of California.
"The first year or two is going to be chaos" while everything gets organized and supply and demand regulations are established, said Troy Dayton, head of Arcview.
President Donald Trump has not been very happy about this, since the substance is considered illegal by federal authorities.
