Newly-Uplisted Signal Bay to Benefit From $21 Billion Marijuana Market

Of all the states that had recreational marijuana on the ballot, Arizona was the lone state to vote against the measure. In Maine, it narrowly passed and there is talk of a possible recount. In addition, medical marijuana laws passed in Montana, Arkansas, Florida and North Dakota.  

Over the last four years, Alaska, Colorado, Oregon, Washington, and the District of Columbia have all legalized recreational marijuana. While the marijuana markets are relatively small in states like Maine and Alaska, the additional of the nation's most populous state of California, home to over 12 percent of the US population and now the largest single marijuana market on Earth, experts now believe that the eventual national legalization of marijuana is inevitable. Annual sales of cannabis in California could reach $7.6 billion by 2020, according to New Frontier Data –$4.3 billion for recreational and $3.3 billion for medical. That matches the $4.3 billion recreational sales estimate from the Tax Foundation.

According to the industry experts at the Arcview Group, the national marijuana market is expected to balloon to $21 billion by 2020, which is up from $5.7 billion last year and an expected $7.9 billion this year.

An October Gallup Poll showed that 60 percent of Americans favor the legalization of marijuana.

The Marijuana Map

With these game-changing election results, marijuana is now legal to varying degrees in most states. Here's how it breaks down.

http://www.potnetwork.com/wp-content/uploads/2016/11/legalized-marijuana-by-state.png

Investors Should Focus on Cannabis Testing Space

While investors should be excited that the market for cannabis is going to hit $21 Billion by 2020, investing in such a saturated space is difficult. New marijuana based companies hit the public markets almost daily. The Cannabis testing space, with its high barrier to entry and increasing importance as marijuana marches towards inevitable legalization nationwide, is a great sector of the industry for investors to place their focus.

The cannabis testing space should be on every investor's radar. The reason for the industry's exponential growth is simple: As cannabis becomes legal, it must be regulated and tested like any other consumer product. With five operating EVIO cannabis testing laboratories, Signal Bay is poised to capture a significant share of this growing market.

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